{"id":"trustees-authorized-investments-regulations-1988","name":"Trustees (Authorized Investments) Regulations 1988","slug":"trustees-authorized-investments-regulations-1988","collection":"regulation","jurisdiction":"wa","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":182289,"registerId":"wa-trustees-authorized-investments-regulations-1988-current","compilationNumber":null,"startDate":"2026-04-05","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Trustees (Authorized Investments) Regulations 1988","content":"![Crest]()Western Australia\n\nTRUSTEES ACT 1962\n\nTrustees (Authorized Investments) Regulations 1988\n\nWestern Australia\n\nTrustees (Authorized Investments) Regulations 1988\n\nContents\n\n1. Citation 1\n\n2. Commencement 1\n\n3. Authorized investments in building societies 1\n\nNotes\n\nCompilation table 2\n\n  \n\nWestern Australia\n\nTRUSTEES ACT 1962\n\nTrustees (Authorized Investments) Regulations 1988\n\nMADE by His Excellency the Governor in Executive Council.\n\n##### 1. Citation\n\nThese regulations may be cited as the *Trustees (Authorized Investments) Regulations 1988*.\n\n##### 2. Commencement\n\nThese regulations shall come into operation on the day on which the *Trustees Amendment Act 1987* comes into operation.\n\n##### 3. Authorized investments in building societies\n\nA trustee may invest any trust funds in the shares of or on deposit in a building society that —\n\n(a) is carrying on business in the State; and\n\n(b) was, immediately before the coming into operation of the *Trustees Amendment Act 1987*, a society certified by the Treasurer under section 16 (1) (e) of the *Trustees Act 1962* as a society in which trustees may invest.\n\nNotes\n\n1. This is a compilation of the *Trustees (Authorized Investments) Regulations 1988* and includes the amendments referred to in the following Table.\n\nCompilation table\n\n| **Citation** | **Gazettal** | **Commencement** |\n| --- | --- | --- |\n| *Trustees (Authorized Investments) Regulations 1988* | 26 Aug 1988 p.3284 | 1 Sep 1988 (see *Gazette* 26 Aug 1988 p.3284) |\n","sortOrder":0}],"analysis":{"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"},"issue_detection":{"absurdities":[],"contradictions":[]},"summary":{"complexity_score":1,"scope_assessment":{"changed":false,"description":"Scope cannot be assessed — no legislative content was provided. The document supplied contains only a website error notice indicating the page is no longer available, along with a standard Acknowledgement of Country. No provisions, schedules, or explanatory material were included."},"complexity_factors":["No legislative content is available — the page has been removed from the Western Australian legislation website","Only the title and a page-not-found notice were provided for analysis","Complexity cannot be meaningfully assessed without the actual text of the regulations","The score of 1 reflects the absence of content, not simplicity of the underlying law"],"plain_english_summary":"The Trustees (Authorized Investments) Regulations 1988 would set out what investments trustees in Western Australia are legally allowed to make with trust assets. It governs how trustees may invest on beneficiaries’ behalf, defining safe options and limits to protect beneficiaries and limit trustee liability.\n\nThe instrument affects anyone acting as a trustee or overseeing trust investments and matters because it constrains investment choices and risk, and may have been repealed, replaced, or relocated on the WA legislation site."},"kimi_summary":{"content_quality":"ok","complexity_score":1,"scope_assessment":{"changed":false,"description":"This regulation has remained tightly focused on its original purpose: authorizing specific building society investments for trustees. The single operative provision (section 3) matches the regulation's title and intent precisely. There is no evidence of scope creep or expansion beyond the narrow technical amendment it was designed to make."},"complexity_factors":["Only 3 operative provisions (sections 1-3)","No defined terms section","Single substantive rule with two simple conjunctive conditions ('and')","No cross-references to other legislation beyond naming two Acts","No exceptions, exemptions, or conditional logic beyond the two basic requirements","Total length is approximately 200 words"],"plain_english_summary":"This is a short Western Australian regulation that tells trustees (people or organisations legally responsible for managing money or property on behalf of others) what they are allowed to invest in.\n\n**What it does:**\n- **Expands investment options for trustees** by allowing them to put trust money into building societies (financial institutions similar to banks that are owned by their members).\n\n**Who it affects:**\n- **Trustees** managing trust funds in Western Australia\n- **Building societies** operating in WA that were already approved for trustee investments before September 1988\n\n**The specific rules:**\nA trustee can invest in a building society only if that society:\n- Is doing business in Western Australia; **and**\n- Was already certified by the Treasurer (the state's finance minister) before the Trustees Amendment Act 1987 took effect\n\n**Why it matters:**\nThis regulation gives trustees more flexibility in where they can invest trust money, but with safeguards. It only allows investment in established, pre-approved building societies that were already trusted enough to handle trustee investments before the law changed. This protects beneficiaries (the people who ultimately benefit from the trust) by ensuring their money only goes to reputable, vetted financial institutions."},"flash_summary":{"complexity_score":2,"scope_assessment":{"changed":true,"description":"The regulation narrows post‑amendment eligibility by allowing investment only in societies that were Treasurer‑certified immediately before the Trustees Amendment Act 1987 commenced, effectively freezing the list of eligible societies at that date and preventing later certifications from expanding eligibility (reg 3)."},"complexity_factors":["Single operative provision governing one narrow activity (investment in building-society shares/deposits) (reg 3).","Temporal condition tying eligibility to the moment before the Trustees Amendment Act 1987 commenced, adding a one-off historical test (regs 2–3).","Dependence on an external administrative act — Treasurer certification under section 16(1)(e) of the Trustees Act 1962 — rather than fresh statutory criteria (reg 3).","Low compliance burden for trustees (decision-based, not procedural), but reliance on verifying past certification status.","Potential for limited legal ambiguity in terms like “carrying on business in the State” and the precise scope of the prior certification."],"plain_english_summary":"These regulations let trustees invest trust money in shares or deposits of building societies that operate in Western Australia and that were certified by the Treasurer immediately before the Trustees Amendment Act 1987 took effect (reg 3). Mechanically, trustees choose to place funds in eligible societies; eligibility depends on a pre-existing Treasurer certification, which fixes the pool of allowed societies and creates a low ongoing compliance duty for trustees while relying on prior administrative discretion (regs 2–3)."}},"importantCases":[],"_links":{"self":"/api/acts/trustees-authorized-investments-regulations-1988","history":"/api/acts/trustees-authorized-investments-regulations-1988/history","analysis":"/api/acts/trustees-authorized-investments-regulations-1988/analysis","conflicts":"/api/acts/trustees-authorized-investments-regulations-1988/conflicts","importantCases":"/api/acts/trustees-authorized-investments-regulations-1988/important-cases","documents":"/api/acts/trustees-authorized-investments-regulations-1988/documents"}}