{"id":"trustee-companies-regulations-1988","name":"Trustee Companies Regulations 1988","slug":"trustee-companies-regulations-1988","collection":"regulation","jurisdiction":"wa","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":182284,"registerId":"wa-trustee-companies-regulations-1988-current","compilationNumber":null,"startDate":"2026-04-05","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Trustee Companies Regulations 1988","content":"![Crest]()Western Australia\n\nTrustee Companies Act 1987\n\nTrustee Companies Regulations 1988\n\nWestern Australia\n\nTrustee Companies Regulations 1988\n\nContents\n\nPart 1 — Preliminary\n\n1. Citation 2\n\n2. Commencement 2\n\nPart 2 — Administrative matters\n\n3. Scale of charges to be published 3\n\n4. Amount prescribed for the purposes of section 10 4\n\n5. Form of returns under section 33 4\n\n6. Completion of forms 4\n\n7. Compliance with forms 4\n\n8. Fee for lodgement of statement under section 33 5\n\nPart 3 — Voluntary transfers of estate assets and liabilities\n\n9. Purpose of this Part 6\n\n10. Transfer of estate assets and liabilities 6\n\n11. Certificates evidencing operation of this Part 7\n\n12. Registration or record of transfer 7\n\n13. Exemption from State tax 8\n\nSchedule\n\nNotes\n\nCompilation table 18\n\n  \n\nWestern Australia\n\nTrustee Companies Act 1987\n\nTrustee Companies Regulations 1988\n\n## Part 1 — Preliminary\n\n[Heading inserted: Gazette 4 Jan 2013 p. 6.]\n\n##### 1. Citation\n\nThese regulations may be cited as the *Trustee Companies Regulations 1988* 1.\n\n##### 2. Commencement\n\nThese regulations shall come into operation on the day on which the *Trustee Companies Act 1987* comes into operation 1.\n\n## Part 2 — Administrative matters\n\n[Heading inserted: Gazette 4 Jan 2013 p. 6.]\n\n##### 3. Scale of charges to be published\n\n(1) A trustee company shall publish its scale of charges as required under the Act by making available free of charge —\n\n(a) to any person who approaches the trustee company for the purpose of making a will which names the trustee company as executor; and\n\n(b) to any person who requests a copy of the scale of charges of the trustee company, a copy of its current scale of charges and, where a notice has been published under subregulation (4), a copy of its proposed scale of charges.\n\n(2) A trustee company shall ensure that copies of its current scale of charges and, where a notice has been published under subregulation (4), copies of its proposed scale of charges are available free of charge at any office of the trustee company which is open to the public.\n\n(3) In addition to the statement required under section 18(9) of the Act the scale of charges as published under subregulations (1) and (2) shall include a statement to the effect that —\n\n(a) the trustee company is entitled to the reimbursement of all disbursements properly made by the trustee company in the administration or management of an estate; and\n\n(b) where an estate participates in an Estate Common Trust Fund the fee or commission set out in the scale of charges may apply.\n\n(4) Where a trustee company proposes to alter its scale of charges the trustee company shall cause to be published in the public notices section of a daily newspaper circulated throughout the State a notice —\n\n(a) stating that the trustee company proposes to alter its scale of charges with effect from a date specified in the notice;\n\n(b) giving details of the proposed alteration to its scale of charges; and\n\n(c) stating that copies of the proposed scale of charges are available upon request at any office of the trustee company.\n\n(5) A notice under subregulation (4) shall be published at least 14 days before the day on which the alteration is to come into effect.\n\n(6) The scale of charges as published under subregulations (1) and (2) and any notice under subregulation (4) shall be in print no smaller than 5 point Roman type face.\n\n##### 4. Amount prescribed for the purposes of section 10\n\nFor the purposes of section 10 of the Act the amount prescribed is $50 000.\n\n##### 5. Form of returns under section 33\n\nA statement lodged under section 33(1)(a) or (b) of the Act shall be —\n\n(a) made in accordance with Form 1 in the Schedule; and\n\n(b) accompanied by a balance sheet and a profit and loss account as set out in Form 2 in the Schedule.\n\n##### 6. Completion of forms\n\nA form shall be completed in accordance with such directions and instructions as are specified in, or relate to, the form.\n\n##### 7. Compliance with forms\n\n(1) Strict compliance with the style of a form set out in the Schedule is not necessary, unless the Commissioner so requires.\n\n(2) Strict compliance with the substance of, and provision of the information required by, a form set out in the Schedule is necessary unless the Commissioner otherwise approves.\n\n##### 8. Fee for lodgement of statement under section 33\n\nThe fee for the lodgement of a statement under section 33(1)(a) or (b) is $1 100.\n\n[Regulation 8 amended: Gazette 8 Nov 1991 p. 5717; 31 Aug 1993 p. 4686.]\n\n## Part 3 — Voluntary transfers of estate assets and liabilities\n\n[Heading inserted: Gazette 4 Jan 2013 p. 7.]\n\n##### 9. Purpose of this Part\n\nThe purpose of this Part is to facilitate voluntary transfers of estate assets and liabilities under the Corporations Act Part 5D.6.\n\n[Regulation 9 inserted: Gazette 4 Jan 2013 p. 7.]\n\n##### 10. Transfer of estate assets and liabilities\n\n(1) This regulation applies if —\n\n(a) ASIC makes a voluntary transfer determination under the Corporations Act section 601WBA that there is to be a transfer of estate assets and liabilities from a transferring company to a receiving company; and\n\n(b) ASIC issues a certificate of transfer under the Corporations Act section 601WBG for the transfer; and\n\n(c) either or both of the transferring company or the receiving company are registered in Western Australia.\n\n(2) When the certificate of transfer comes into force, the receiving company is taken to be the successor in law of the transferring company, to the extent of the transfer.\n\n(3) In particular —\n\n(a) all the estate assets and liabilities of the transferring company become respectively the assets and liabilities of the receiving company without any transfer, conveyance or assignment; and\n\n(b) to the extent of the transfer — the duties, obligations, immunities, rights and privileges applying to the transferring company apply to the receiving company.\n\n(4) If the certificate of transfer includes provisions of a kind referred to in the Corporations Act section 601WBG(3) —\n\n(a) specifying that particular things are to happen or are taken to be the case — those things are taken to happen, or to be the case, in accordance with those provisions; or\n\n(b) specifying a mechanism for determining things that are to happen or are taken to be the case — things determined in accordance with that mechanism are taken to happen, or to be the case, as determined in accordance with that mechanism.\n\n[Regulation 10 inserted: Gazette 4 Jan 2013 p. 7-8.]\n\n##### 11. Certificates evidencing operation of this Part\n\n(1) An authorised ASIC officer may, by a certificate in writing signed by the officer, certify that a specific asset or liability has become an asset or liability of the receiving company under this Part.\n\n(2) For all purposes and in all proceedings, a certificate purporting to be issued under subregulation (1) is evidence of the matters certified.\n\n(3) ASIC is empowered to authorise, in writing, a person who is a member of ASIC, or of its staff, to issue certificates under this regulation.\n\n[Regulation 11 inserted: Gazette 4 Jan 2013 p. 8.]\n\n##### 12. Registration or record of transfer\n\nThe Registrar of Titles, the Registrar of Deeds and Transfers and any other person or authority required or authorised under a law of the State to register or record transactions affecting assets or liabilities, or documents relating to such transactions, must, on application under this regulation accompanied by a certificate issued under regulation 11, register or record in an appropriate manner the transfer or transfers to which the certificate relates.\n\n[Regulation 12 inserted: Gazette 4 Jan 2013 p. 8.]\n\n##### 13. Exemption from State tax\n\nState tax is not payable in respect of a transfer of estate assets or liabilities facilitated under this Part.\n\n[Regulation 13 inserted: Gazette 4 Jan 2013 p. 8.]\n\nSchedule\n\n[Regulation 5]\n\n**Form 1**\n\n*Trustee Companies Act 1987*\n\n(Sections 33(1)(a) and (b))\n\n**STATEMENT**\n\n| (1) | ![]() | .....................................................................................(“the company”)<br>I, ............................................................................................................ |\n| --- | --- | --- |\n\n\n(name of Managing Director)\n\nor\n\n| (1) | ![]() | We, ..................................................................................................... (Principal Executive Officer)<br> .....................................................................................................<br>(Chief Financial Officer)<br> .....................................................................................................<br>(Director)<br> .....................................................................................................<br>(Director) |\n| --- | --- | --- |\n\n\nState —\n\nThat on (2) ......................................... (hereinafter referred to as “balance date”):\n\nThe authorised capital of the company was $ ...................... divided into ........................ shares of $........................ each.\n\nThe issued capital was made up of shares of $....................... each paid to\n\n$...................... per share.\n\nThe total amount of paid up capital was $ ........................\n\n(1) The uncalled capital being $ ........................ per share and amounting to $........................ was made up as follows —\n\n$........................ per share amounting to $........................ which may be called up at the discretion of the company.\n\n$........................ per share amounting to $........................ which can only be called up on and for the purpose of the winding up of the company.\n\n(1) Calls to the amount of $........................ per share amounting to $........................ had been made but remained unpaid and the shares had not been forfeited.\n\nThe net tangible assets of the company (i.e. the amount calculated by deducting total liabilities from total tangible assets) amount to $........................\n\nThat the following loans were obtained from financial institutions other than banks and insurance companies during the period of 6 months preceding the balance date.\n\n| Name of<br>Institution | Amount of Loan<br>$’000 | Term of Loan and<br>Maturity Date | Interest    Rate | Security (if applicable) |\n| --- | --- | --- | --- | --- |\n|  |  |  |  |  |\n\n\nThat the following contingent liabilities existed at balance date. (Show the amounts where they can be quantified)\n\n|  | $’000 |\n| --- | --- |\n| Guarantees of liabilities of related parties..................................... |  |\n| Guarantees of liabilities of other persons...................................... |  |\n| Other contingent liabilities............................................................ | __________ |\n| TOTAL $ | __________ |\n\n\nThat the guarantees of liabilities of related parties stated above were made up as follows:\n\n| Name of Related Party | Amount<br>$’000 |\n| --- | --- |\n|  | __________ |\n| TOTAL $ |  |\n\n\nThat the nature and amount of credit and standby facilities available to the company as at balance date, a summary of the restrictions affecting those facilities and the duration of each of those facilities were as described below:\n\n| Nature of Facility | Summary of<br>Restrictions | Duration | Amount of<br>Facility available<br>to the Company<br>$’000 | Amount of<br>Facility unused<br>at balance date<br>$’000 |\n| --- | --- | --- | --- | --- |\n|  |  |  | TOTAL $ | ___________ |\n\n\nThat, in our opinion, the balance sheet and the profit and loss account of the company annexed to this statement have been drawn up so as to give a true and fair view of the state of affairs of the company as at balance date and the profit or loss of the company for the period ended on that date.\n\nThat the classification of assets and liabilities and the valuation of assets in the balance sheet are based upon the company’s intentions at balance date as to the use or disposal of those assets and the repayment of liabilities.\n\nThat, in our opinion, at the date of this statement, there are reasonable grounds to believe that the company will be able to pay its debts as and when they fall due.\n\nThat during the period of 6 months preceding balance date:\n\nThere had been the following significant changes in the nature of the principal activities of the company (3) —\n\n......................................................................................................................\n\n......................................................................................................................\n\n......................................................................................................................\n\n......................................................................................................................\n\n......................................................................................................................\n\nThe following items, transactions or events of a material and unusual nature affected the results of the company’s operations (3) —\n\n......................................................................................................................\n\n......................................................................................................................\n\n......................................................................................................................\n\n......................................................................................................................\n\n(1) The provisions of the *Trustee Companies Act 1987* in respect of investment of monies held by the company on trust have/have not been complied with.\n\n(1) The company has/has not complied with all other requirements of the *Trustee Companies Act 1987*.\n\n(3) That the following matters or circumstances have arisen since balance date and have significantly affected or may significantly affect —\n\n(a) the operations of the company;\n\n(b) the results of those operations; or\n\n(c) the state of affairs of the company, in subsequent periods:\n\n............................................................................................................\n\n............................................................................................................\n\n............................................................................................................\n\n............................................................................................................\n\nDated this...........................................day of.............................................20..........\n\n................................................................\n\nSignature (Managing Director)\n\nor\n\n................................................................\n\nSignature (Principal Executive Officer)\n\n................................................................\n\nSignature (Chief Financial Officer)\n\n................................................................\n\nSignature (Director)\n\n................................................................\n\nSignature (Director)\n\nDirections\n\nA balance sheet and profit and loss account for the relevant 6 month period are to be annexed.\n\nInstructions\n\n(1) Delete as appropriate.\n\n(2) Specify last day of first half of financial year or last day of financial year of the company as appropriate.\n\n(3) If no change insert “nil”.\n\n**Form 2**\n\n*Trustee Companies Act 1987*\n\n(Sections 33(1)(a) and (b))\n\n.................................................... ...................................................\n\n(Name of Company) (Date of statement)\n\nBALANCE SHEET AS AT........................................\n\n| CURRENT ASSETS | $’000 |\n| --- | --- |\n| Cash at bank and on hand................................................................ |  |\n| Bills receivable — |  |\n| bank accepted or endorsed (note 3)....................................... |  |\n| other (note 3)......................................................................... |  |\n| Investments in and loans to related parties (note 4)........................ |  |\n| investments (notes 3 and 5)................................................... |  |\n| loans — |  |\n| secured (notes 1 and 3)............................................... |  |\n| unsecured (note 3)....................................................... |  |\n| Other loans and deposits: |  |\n| secured (notes 1 and 3)......................................................... |  |\n| unsecured (note 3)................................................................. |  |\n| Government and semi‑government securities (note 6)................... |  |\n| Shares, units, options, debentures and convertible notes: |  |\n| quoted on a financial market — market value $ |  |\n| (notes 3, 5 and 7)........................................................ |  |\n| not quoted on a financial market (notes 3 and 7) |  |\n| Interests in partnerships, trusts and unincorporated joint ventures<br> (notes 3 and 8)....................................................................... |  |\n| Lease receivables (note 3)............................................................... |  |\n| Property held for resale (note 3)...................................................... |  |\n| Other current assets (notes 2 and 3)................................................ |  |\n|  | ___________ |\n| Total Current Assets | ___________ |\n\n| NON‑CURRENT ASSETS |  |\n| --- | --- |\n| Bills receivable................................................................................ |  |\n| bank accepted or endorsed (note 6)....................................... |  |\n| other (note 6)......................................................................... |  |\n| Investments in and loans to related parties (note 4)........................ |  |\n| investments (notes 5 and 6)................................................... |  |\n| loans — |  |\n| Secured (notes 1 and 6)............................................... |  |\n| unsecured (note 6)....................................................... |  |\n| Other loans and deposits — |  |\n| secured (notes 1 and 6)......................................................... |  |\n| unsecured (note 6)................................................................. |  |\n| Government and semi‑government securities (note 6)................... |  |\n| Shares, units, options, debentures and convertible notes quoted on a financial market — market value $ |  |\n| (notes 5, 6 and 7) ....................................................... |  |\n| not quoted on a financial market (notes 5 and 6) |  |\n| Interests in partnerships, trusts and unincorporated joint ventures (notes 6 and 8)...................................................................... |  |\n| Lease receivables (note 6)............................................................... |  |\n| Property held for resale (note 6)...................................................... |  |\n| Property, plant and equipment (note 6)........................................... |  |\n| Intangible assets (notes 2 and 6)..................................................... |  |\n| Other non‑current assets, (notes 2 and 6)....................................... | ___________ |\n| Total Non‑Current Assets | ___________ |\n| Total Assets | ___________ |\n| CURRENT LIABILITIES |  |\n| Bank overdrafts and bank loans — |  |\n| secured (note 1)..................................................................... |  |\n| unsecured.............................................................................. |  |\n| Loans from other financial institutions — |  |\n| secured (note 1)..................................................................... |  |\n| unsecured.............................................................................. |  |\n| Bills payable and liabilities under promissory notes....................... |  |\n| Subordinated loans from related parties.......................................... |  |\n| Clients’ balances and deposits: |  |\n| secured (notes 1 and 2)......................................................... |  |\n| unsecured.............................................................................. |  |\n| Trade creditors and accrued expenses............................................. |  |\n| Lease payables................................................................................. |  |\n| Provisions........................................................................................ |  |\n| Income Tax........................................................................... |  |\n| Dividends.............................................................................. |  |\n| Other..................................................................................... |  |\n| Deferred income (notes 2 and 9)..................................................... |  |\n| Other amounts payable: |  |\n| secured (notes 1 and 2)......................................................... |  |\n| unsecured (note 2)................................................................. | ___________ |\n| Total Current Liabilities | ___________ |\n| NON‑CURRENT LIABILITIES |  |\n| Bank overdrafts and bank loans — |  |\n| secured (note 1)..................................................................... |  |\n| unsecured.............................................................................. |  |\n| Loans from other financial institutions — |  |\n| secured (note 1)..................................................................... |  |\n| unsecured.............................................................................. |  |\n| Bills payable and liabilities under promissory notes....................... |  |\n| Subordinated loans from related parties.......................................... |  |\n| Clients’ balances and deposits: |  |\n| secured (notes 1 and 2)......................................................... |  |\n| unsecured.............................................................................. |  |\n| Lease payables................................................................................. |  |\n| Provisions |  |\n| Income Tax........................................................................... |  |\n| Other..................................................................................... |  |\n| Deferred income (notes 2 and 9)..................................................... |  |\n| Other amounts payable: |  |\n| secured (notes 1 and 2)......................................................... |  |\n| unsecured (note 1)................................................................. | ___________ |\n| Total Non‑Current Liabilities | ___________ |\n| Total Liabilities | ___________ |\n| Net Assets/Shareholders’ Funds<br> (Total assets less total liabilities)<br> Less: Intangible Assets | ___________ |\n| Net Tangible Assets | ___________ |\n| Profit and Loss Account for the Period |  |\n| From to |  |\n| Operating profit (loss)..................................................................... |  |\n| Income Tax...................................................................................... | ___________ |\n| Operating profit (loss) after income tax.......................................... |  |\n| Profit (loss) on extraordinary items after income tax...................... | ___________ |\n| Net profit (loss)............................................................................... | ___________ |\n\n\nDefinitions\n\n1. “Current assets” means cash or other assets which would in the normal course of business be consumed or converted into cash within 12 months of balance date.\n\n2. “Non‑current assets” means assets which would in the normal course of business be consumed or converted into cash after 12 months of balance date.\n\n3. “Current liabilities” means liabilities which in the normal course of business would be due and payable within 12 months of balance date.\n\n4. “Non‑current liabilities” means liabilities which would in the normal course of business be due and payable after 12 months of balance date.\n\nNotes\n\n1. Indicate the nature and extent of security by broad categories.\n\n2. Provide details of major components if the total amount is material.\n\n3. State at lower of cost and net realizable value.\n\n4. “Related parties” includes —\n\n(a) a related corporation;\n\n(b) (i) a director;\n\n(ii) an executive officer, or\n\n(iii) a secretary,\n\nof the reporting company or of a related corporation, their relatives (including a de facto partner) and companies controlled by them, and any unincorporated association (including trading trusts) where a material beneficial interest is held by those parties or any combination of those parties;\n\n(c) any party which can significantly influence the management or operating policies of the reporting company;\n\n(d) any party whose management or operating policies are able to be significantly influenced by the reporting company or a director, executive officer or secretary of the reporting company; and\n\n(e) any party whose management or operating policies are able to be significantly influenced by a third party which is in a position to exercise a similar influence on the reporting party.\n\n“Unincorporated associations” means unincorporated joint ventures, partnerships, trusts or any other forms of unincorporated associations.\n\n5. Indicate types of investments by broad categories.\n\n6. State at cost or valuation less amounts written off or provided for depreciation or permanent diminution in value.\n\n7. “Financial market” has the meaning given by the *Corporations Act 2001* of the Commonwealth.\n\n8. Indicate the nature and extent of the interests by broad categories.\n\n9. Any unearned income shall not be included in any estimate of the gross amount of any class of debts unless the amount of unearned income so included is shown as a deduction from the estimate of the gross amount of the class of debts concerned.\n\n[Form 2 amended: Gazette 6 Jun 2003 p. 2025; 30 Jun 2003 p. 2635.]\n\n[Schedule amended: Gazette 6 Jun 2003 p. 2025; 30 Jun 2003 p. 2635.]\n\nNotes\n\n1 This is a compilation of the *Trustee Companies Regulations 1988* and includes the amendments made by the other written laws referred to in the following table. The table also contains information about any reprint.\n\nCompilation table\n\n| **Citation** | **Gazettal** | **Commencement** |\n| --- | --- | --- |\n| *Trustee Companies Regulations 1988* | 26 Aug 1988 p. 3284‑9 | 1 Sep 1988 (see r. 2 and *Gazette* 26 Aug 1988 p. 3284) |\n| *Trustee Companies Amendment Regulations 1991* | 8 Nov 1991 p. 5717 | 8 Nov 1991 |\n| *Trustee Companies Amendment Regulations 1993* | 31 Aug 1993 p. 4686 | 1 Sep 1993 (see r. 2) |\n| *Corporations (Consequential Amendments) (FSR) Regulations 2003* Pt. 5 | 6 Jun 2003 p. 2023‑6 | 11 Mar 2002 (see r. 2 and Cwlth *Gazette* 24 Oct 2001 No. GN42) |\n| *Equality of Status Subsidiary Legislation Amendment Regulations 2003* Pt. 40 | 30 Jun 2003 p. 2581‑638 | 1 Jul 2003 (see r. 2 and *Gazette* 30 Jun 2003 p. 2579) |\n| **Reprint 1: The *Trustee Companies Regulations 1988* as at** **24 Oct 2003** (includes amendments listed above) | | |\n| *Trustee Companies Amendment Regulations 2012* | 4 Jan 2013 p. 6-8 | r. 1 and 2: 4 Jan 2013 (see r. 2(a));   Regulations other than r. 1 and 2: 5 Jan 2013 (see r. 2(b)) |\n","sortOrder":0}],"analysis":{"flash_summary":{"complexity_score":5,"scope_assessment":{"changed":true,"description":"The regulations originally provided administrative rules for trustee companies (publication of charges, forms and fees). Subsequent amendment inserted Part 3 (regs 9–13) to implement and facilitate voluntary transfers of estate assets and liabilities under the Corporations Act, adding ASIC certification, mandatory registration by State registrars on production of that certificate, and an explicit State tax exemption. This extends the regulations from purely trustee administration to active interaction with Commonwealth transfer processes and State registration/tax treatment."},"complexity_factors":["Cross‑jurisdictional interaction with the Commonwealth Corporations Act (Part 3: regs 9–13) — requires coordination between ASIC determinations/certificates and State registrars.","Delegated evidentiary effect of ASIC certificates (r.11(1)‑(3)) — certificates are prima facie evidence and empower registration/transfer without separate conveyancing.","Mandatory publication and notification requirements for trustees (r.3(1)‑(6)) — includes free availability, newspaper notice timing and minimum font size, creating operational compliance tasks.","Prescribed monetary and fee settings (r.4 prescribes $50,000; r.8 sets $1,100 lodgement fee) — fixed costs for compliance and thresholds for activities.","Detailed statutory forms and disclosure content (r.5 and Schedule Forms 1–2) — requires balance sheet, profit & loss, contingent liabilities and specific related‑party disclosures.","Limited administrative discretion and exceptions (r.7) — Commissioner can require strict style compliance or relax substance requirements, creating some regulatory uncertainty.","Obligation on registrars/authorities to record transfers on production of a certificate (r.12) — shifts administrative burden to multiple recording entities across State law regimes.","Statutory exemption from State tax for transfers under this Part (r.13) — changes fiscal treatment and may affect transaction structuring."],"plain_english_summary":"These regulations require trustee companies to publish their scales of charges, lodge prescribed financial statements on set forms and pay a lodgement fee, and they set a prescribed monetary threshold. They also implement a mechanism (linked to Commonwealth Corporations Act procedures) by which ASIC can certify voluntary transfers of estate assets and liabilities so that a receiving company becomes the legal successor, with registrars recording the transfer and State tax exempted. The rules affect trustee companies, ASIC, registration authorities and members of the public who request charges or hold estates."},"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"},"kimi_summary":{"content_quality":"ok","complexity_score":4,"scope_assessment":{"changed":true,"description":"The original 1988 regulations focused purely on administrative matters (fee disclosure and financial reporting). Part 3 was inserted in 2013 to add a significant new function: facilitating voluntary transfers of estate assets between companies under the Commonwealth Corporations Act. This expanded the scope from purely state-based administrative oversight to include mechanisms for corporate restructuring involving Commonwealth law, including tax exemptions and automatic legal succession provisions."},"complexity_factors":["Moderate cross-referencing to the Commonwealth Corporations Act 2001 (Part 5D.6) for the transfer mechanism in Part 3","Detailed financial reporting forms (Forms 1 and 2) with specific accounting definitions and note requirements","Some conditional logic in fee publication requirements (subregulations with multiple scenarios)","Mix of administrative provisions (forms, fees) and substantive legal mechanisms (successor in law, tax exemptions)","Relatively short length (13 regulations plus schedule) but dense technical content in the financial forms"],"plain_english_summary":"**What this legislation does:**\n\nThese regulations set out the operational rules for trustee companies in Western Australia under the *Trustee Companies Act 1987*. They cover three main areas:\n\n**1. Transparency in fees (Part 2)**\n- Trustee companies must publish their fee scales and make them freely available to anyone who asks, including people making wills that name the company as executor.\n- If a company wants to change its fees, it must advertise this in a newspaper at least 14 days before the change takes effect.\n- Fee schedules must be printed in readable type (at least 5 point Roman) and must disclose that the company can claim back expenses and may charge additional fees for estates in common trust funds.\n\n**2. Financial reporting (Part 2)**\n- Companies must lodge six-monthly financial returns using specific forms (Forms 1 and 2 in the Schedule).\n- These forms require detailed disclosure of capital structure, loans, contingent liabilities, credit facilities, and compliance with investment rules.\n- There is a $1,100 fee for lodging these statements.\n- The regulations prescribe a $50,000 threshold for certain purposes under section 10 of the Act (relating to capital requirements).\n\n**3. Business transfers (Part 3)**\n- This part (added in 2013) facilitates the transfer of estate assets and liabilities between trustee companies under the Commonwealth *Corporations Act 2001*.\n- When ASIC (the corporate regulator) approves a transfer, the receiving company automatically becomes the legal successor to the transferring company's estate business—no separate legal documents needed.\n- Transfers under this scheme are exempt from Western Australian state taxes (like stamp duty).\n- Land and deed registries must update their records when presented with a certificate from ASIC.\n\n**Who it affects:**\n- Trustee companies operating in Western Australia (companies that manage trusts, estates, and deceased persons' assets).\n- People making wills or dealing with deceased estates.\n- ASIC and state land registries.\n\n**Why it matters:**\nThese rules protect consumers by ensuring fee transparency and financial accountability. They also allow the trustee company industry to consolidate or restructure efficiently without triggering tax liabilities or complex legal transfers of individual assets."},"issue_detection":{"absurdities":[],"contradictions":[]},"summary":{"complexity_score":1,"scope_assessment":{"changed":false,"description":"Unable to assess whether scope changed from original intent — no legislative text was retrievable from the provided source."},"complexity_factors":["No actual legislative text was provided — the source URL returned a 'page not found' error","Impossible to assess substantive legal complexity without the text","Score of 1 reflects absence of content, not simplicity of the underlying law"],"plain_english_summary":"The Trustee Companies Regulations 1988 would have set out how professional trustee companies in Western Australia operate — governing the management of estates, trusts and financial affairs for clients (e.g. deceased estates or people unable to manage their own affairs). The original page is unavailable; check the WA Parliamentary Counsel’s Office website or helpdesk, and note Commonwealth law (Corporations Act 2001) may now supersede some state rules."}},"importantCases":[],"_links":{"self":"/api/acts/trustee-companies-regulations-1988","history":"/api/acts/trustee-companies-regulations-1988/history","analysis":"/api/acts/trustee-companies-regulations-1988/analysis","conflicts":"/api/acts/trustee-companies-regulations-1988/conflicts","importantCases":"/api/acts/trustee-companies-regulations-1988/important-cases","documents":"/api/acts/trustee-companies-regulations-1988/documents"}}