Version No. 011
ANZ Executors & Trustee Company Act
1983
No. 9898 of 1983
Version incorporating amendments as at 8 February 2008
TABLE OF PROVISIONS
Section Page
PART I—PRELIMINARY 2
1 Short title, commencement and Division into Parts 2
2 Definitions 3
PART II—ALTERATIONS TO THE STRUCTURE CAPITAL
AND NAME OF GARIWANG PTY. LTD. 8
3 Alterations to the structure, capital and name of Gariwang
Pty. Ltd. 8
PART III—ALTERATION OF THE NAME OF THE TRUSTEES
EXECUTORS & AGENCY COMPANY LIMITED 9
4 Alteration of the name of the Trustees Executors & Agency
Company Limited 9
PART IV—Repealed 9
5 Repealed 9
PART V—TRANSFER OF THE TRUST BUSINESS AND
APPOINTMENTS OF THE OLD TRUSTEE TO THE NEW
TRUSTEE 10
6 Definition 10
7 Transfer of the trust business and appointments of the Old
Trustee to the New Trustee 10
8 Evidence 12
═══════════════
i
Section Page
ENDNOTES 13
General Information 13
Table of Amendments 14
Explanatory Details 15
ii
Version No. 011
ANZ Executors & Trustee Company Act
1983
No. 9898 of 1983
Version incorporating amendments as at 8 February 2008
An Act to amend the Trustee Companies Act 1958, to provide
for the transfer to a wholly owned subsidiary of Australia and
New Zealand Banking Group Limited of the trust business of
The Trustees Executors & Agency Company Limited and for
other purposes.
Preamble
WHEREAS Australia and New Zealand Banking
Group Limited (in this preamble referred to as
the Bank) is a company within the meaning of the
Companies (Victoria) Code:
AND WHEREAS Gariwang Pty. Ltd. (in this
preamble referred to as the New Trustee) is a
company within the meaning of the Companies
(Victoria) Code:
AND WHEREAS The Trustees Executors &
Agency Company Limited (in this preamble
referred to as the Old Trustee) is a company within
the meaning of the Companies (Victoria) Code:
AND WHEREAS by order of the Supreme Court
of Victoria made on 31 May 1983 joint provisional
liquidators were appointed to the Old Trustee:
AND WHEREAS the Old Trustee is a trustee
company within the meaning of the Trustee
Companies Act 1958:
AND WHEREAS the provisional liquidators of the
Old Trustee have entered into an agreement with
the Bank whereby for an agreed price the Old
Trustee will transfer all of its business of acting as
1
Part I—Preliminary
ANZ Executors & Trustee Company Act 1983
No. 9898 of 1983
s. 1
a trustee to the New Trustee and the New Trustee
will be appointed in place of the Old Trustee in all
of its trust business:
AND WHEREAS it is expedient in the interests of
the effective and efficient administration of the
trusts of which the Old Trustee is the trustee and in
the interests of public confidence that the business
of acting as trustee and all the appointments of the
Old Trustee be transferred to the New Trustee
economically, quickly and without interference
with the administration of those trusts:
AND WHEREAS to transfer the business of acting
as trustee and all the appointments of the Old
Trustee to the New Trustee it is expedient to enact
the provisions contained in this Act:
BE IT THEREFORE ENACTED by the Queen's Most Excellent
Majesty by and with the advice and consent of the Legislative
Council and the Legislative Assembly of Victoria in this present
Parliament assembled and by the authority of the same as follows
(that is to say):
PART I—PRELIMINARY
1 Short title, commencement and Division into Parts
(1) This Act may be cited as the ANZ Executors &
Trustee Company Act 1983.
(2) This Act shall come into operation as follows—
(a) Parts I and II shall come into operation on
the day on which this Act receives the Royal
Assent; and
(b) Parts III, IV and V shall come into operation
on a day to be fixed by proclamation of the
Governor in Council published in the
Government Gazette.
2
Section 1 - ANZ Executors & Trustee Company Act 1983 - ANZ Executors & Trustee Company Act 1983 | Zoe
Part I—Preliminary
ANZ Executors & Trustee Company Act 1983
No. 9898 of 1983
s. 2
(3) This Act is divided into Parts as follows:
Part I—Preliminary ss 1–2
Part II—Alterations to the Structure Capital
and Name of Gariwang Pty. Ltd. s. 3
Part III—Alteration of the Name of The
Trustees Executors & Agency
Company Limited s. 4
Part IV—Amendments to the Trustee
Companies Act 1958 s. 5
Part V—Transfer of the Trust Business and
Appointments of the Old Trustee to
the New Trustee ss 6–8.
2 Definitions
In this Act unless inconsistent with the context or
subject-matter—
Bank means Australia and New Zealand Banking
Group Limited;
excluded items means—
(a) all assets held by or for the Old Trustee
of which the Old Trustee is the
beneficial owner (other than the assets
included in the definition of the trust
business of the Old Trustee);
(b) all rights of the Old Trustee to any
security deposits or similar sums or
assets lodged with any court, public
office or authority (including
debentures or inscribed stock invested
in by the Old Trustee pursuant to
section 10 of the Trustee Companies
Act 1958);
(c) all liabilities of the Old Trustee present
or future certain or contingent
ascertained or sounding only in
3
Part I—Preliminary
ANZ Executors & Trustee Company Act 1983
No. 9898 of 1983
s. 2
damages and all claims by persons
against the Old Trustee and any officer
of the Old Trustee in respect of breach
of trust, misfeasance non-feasance or
the exercise of or failure to exercise
discretion in acting in the capacity of
trustee, including claims in respect of
any deficiency in trust assets whether or
not the claims have been notified or
ascertained;
(d) the right of the Old Trustee to
indemnity under any insurance policy
held by it other than in the capacity of
trustee;
(e) the right to contribution by members
and ex-members of the Old Trustee
pursuant to clause 1 of the Second
Schedule to the Trustee Companies
Act 1958; and
(f) all the assets undertakings and
liabilities of the Old Trustee in its
businesses of property developer,
packager of projects, entrepreneur,
property owner, renovator and dealer,
short-term money market dealer,
mortgage lender of its own money,
dealer in securities and any other
businesses it conducted on its own
behalf;
in the capacity of trustee means (whether alone or
jointly with any other person)—
(a) as trustee or custodian trustee of any
trust deed, settlement, covenant,
agreement or will, whether originally so
appointed or not and whether appointed
under hand or seal or by order of a
court or otherwise;
4
Part I—Preliminary
ANZ Executors & Trustee Company Act 1983
No. 9898 of 1983
s. 2
(b) as executor of a will of a deceased
person;
(c) as administrator of the estate of a
deceased person;
(d) as judicial trustee appointed by order of
any court;
(e) as agent, attorney or nominee; or
(f) as receiver, committee or guardian of
estates under the Mental Health Act
1959 or the Public Trustee Act 1958
or as guarantor or surety or guardian of
a minor or lunatic;
land includes any estate, interest or right in over
or under land;
Old Trustee means The Trustees Executors &
Agency Company Limited;
the trust business of the Old Trustee means the
business of the Old Trustee of acting in the
capacity of trustee and includes—
(a) the assets held on trust by the Old
Trustee including all records, securities
and other documents and information
whether recorded on paper, microfilm,
magnetic tape or disc or otherwise held
or maintained by the Old Trustee in its
capacity of trustee;
(b) the liabilities and obligations properly
incurred by the Old Trustee acting in
the capacity of trustee including
undertakings to courts and public
officers and authorities;
(c) the rights of indemnity of the Old
Trustee against trust assets in respect of
liabilities incurred by the Old Trustee
acting as trustee;
5
Part I—Preliminary
ANZ Executors & Trustee Company Act 1983
No. 9898 of 1983
s. 2
(d) the rights of the Old Trustee to
commission, remuneration, fees and
reimbursement for disbursements
whether billed or unbilled in respect of
its acting in the capacity of trustee;
(e) the benefit and obligations under
contracts of employment with
employees of the Old Trustee who are
employed primarily in the trust
business of the Old Trustee including
obligations with respect to holiday pay,
long service leave, sick leave and other
benefits applicable to those employees
other than the liability to make any
payments to any superannuation
scheme that should have been but have
not been made before the
commencement of Part V;
(f) the benefit and obligations under rental
or leasing contracts in respect of the
computers used by the Old Trustee in
the trust business of the Old Trustee;
(g) all rights of the Old Trustee in respect
of the use of the computer programmes
used by the Old Trustee in the trust
business of the Old Trustee;
(h) all the issued shares of The Trustees
Executors and Agency Company
(Canberra) Limited;
(i) all the issued shares of T.E.A.
Nominees Limited;
(j) all the shares in the Executor Trustee
and Agency Company of South
Australia Limited owned by the Old
Trustee;
6
Part I—Preliminary
ANZ Executors & Trustee Company Act 1983
No. 9898 of 1983
s. 2
(k) the corporate and accounting records of
the Old Trustee to the extent to which
they relate to the trust business of the
Old Trustee;
(l) the liability to perform further
administration of any trust or other
administration undertaken by the Old
Trustee;
(m) all assets of trusts and other
appointments of the Old Trustee in its
business of acting in the capacity of
trustee; and
(n) all other assets and undertakings of the
Old Trustee being part of or incidental
to or used in its business of acting in
the capacity of trustee—
but does not include the excluded items;
will includes a codicil and any other testamentary
writing.
7
Part II—Alterations to the Structure Capital and Name of Gariwang Pty. Ltd.
ANZ Executors & Trustee Company Act 1983
No. 9898 of 1983
s. 3
PART II—ALTERATIONS TO THE STRUCTURE CAPITAL
AND NAME OF GARIWANG PTY. LTD.
3 Alterations to the structure, capital and name of
Gariwang Pty. Ltd.
(1) The company known as Gariwang Pty. Ltd. is
hereby converted from a proprietary company to a
public company limited by shares.
(2) The Memorandum of Association of Gariwang
Pty. Ltd. is hereby amended by—
(a) altering the name of the company in clause 1
to ANZ Executors & Trustee Company
Limited;
(b) altering the capital of the company to
$2 500 000 divided into 2 500 000 shares of
$1.00 each; and
(c) deleting the restrictions contained in
clause V.
(3) On or before 15 June 1983—
(a) the Bank shall subscribe for 2 499 998 shares
in ANZ Executors & Trustee Company
Limited; and
(b) the two shares of $1.00 each issued by the
company before the commencement of this
section shall be transferred to the Bank.
(4) The shares referred to in subsection (3)(a) shall be
issued and allotted on the basis that an amount of
40 cents per share capital shall be paid in respect
of each share and the balance of 60 cents per share
shall not be called up except in the event of and
for the purpose of winding up of the company.
8
Part III—Alteration of the Name of the Trustees Executors & Agency
Company Limited
ANZ Executors & Trustee Company Act 1983
No. 9898 of 1983
s. 4
PART III—ALTERATION OF THE NAME OF THE
TRUSTEES EXECUTORS & AGENCY COMPANY LIMITED
4 Alteration of the name of the Trustees Executors &
Agency Company Limited
(1) The name of the Trustees Executors & Agency
Company Limited is hereby changed to TEA
(1983) Limited.
(2) The change of name of the company pursuant to
subsection (1) does not operate—
(a) to create a new legal entity;
(b) to prejudice or affect the identity of the body
corporate constituted by the company or its
continuity as a body corporate;
(c) to affect the property or the rights or
obligations of the company; or
(d) to render defective any legal proceedings by
or against the company—
and any legal proceedings that could have been
continued or commenced by or against the
company by its former name may be continued or
commenced by or against it in its new name.
Pt 4
(Heading
and s. 5)
repealed by
No. 10168
s. 3(Sch.).
9
Part V—Transfer of the Trust Business and Appointments of the Old Trustee
to the New Trustee
ANZ Executors & Trustee Company Act 1983
No. 9898 of 1983
s. 6
PART V—TRANSFER OF THE TRUST BUSINESS AND
APPOINTMENTS OF THE OLD TRUSTEE TO THE NEW
TRUSTEE
6 Definition
In this Part—
New Trustee means ANZ Executors & Trustee
Company Limited.
7 Transfer of the trust business and appointments of
the Old Trustee to the New Trustee
(1) Upon the commencement of this Part, the trust
business of the Old Trustee as at that
commencement shall be transferred to and vest in
the New Trustee.
(2) In each case where the Old Trustee acts in the
capacity of trustee the New Trustee is hereby
appointed in its stead to act in the capacity of
trustee and the New Trustee—
(a) shall be entitled and obliged to exercise and
discharge all rights powers capacities
authorities duties and obligations of the Old
Trustee in respect of and arising from every
such appointment; and
(b) to the extent provided in this Act shall
discharge the liabilities and obligations of
the Old Trustee in respect of and arising
from every such appointment.
(3) The Old Trustee shall account to the New Trustee
for all assets and liabilities and obligations held or
to which it is subject in its business of acting in
the capacity of trustee.
(4) Any appointment or nomination of the Old
Trustee as trustee executor or otherwise in the
capacity of trustee in any will or instrument
whether such appointment or nomination is in
10
Part V—Transfer of the Trust Business and Appointments of the Old Trustee
to the New Trustee
ANZ Executors & Trustee Company Act 1983
No. 9898 of 1983
s. 7
effect on the commencement of this Part or takes
effect after that commencement or has taken effect
previously but where some further act or thing is
necessary to perfect the appointment or
undertaking of the office shall be deemed to be an
appointment or nomination of the New Trustee.
(5) The production of a copy of this Part printed by
the Government Printer shall on and after the
commencement of this Part be conclusive
evidence in all courts and proceedings of the
transfer of the trust business of the Old Trustee
and all property held by the Old Trustee on trust
in the capacity of trustee to the New Trustee and
of their vesting in the New Trustee and without
prejudice to the generality of the foregoing any
such copy of this Act shall in relation to all land
and all marketable securities operate as a duly
executed transfer by the Old Trustee to the New
Trustee of such land or such securities.
(6) If any portion of the undertaking or property held
by the Old Trustee in the capacity of trustee
cannot be or is not vested in the New Trustee by
virtue of this Act whether because transfers of that
portion are governed otherwise than by the law of
the State of Victoria or otherwise notwithstanding
that such portion relates to the trust business of the
Old Trustee in Victoria then the Old Trustee shall
do all such things necessary after the
commencement of this Part for the purpose of
securing that such portion is effectively and
promptly transferred to the New Trustee.
(7) Where, on the application of the New Trustee, it
appears to any court to be necessary or proper
having regard to the provisions of this Act, the
New Trustee may be joined as a party to any legal
proceedings in addition to or in lieu of the Old
Trustee.
11
Part V—Transfer of the Trust Business and Appointments of the Old Trustee
to the New Trustee
ANZ Executors & Trustee Company Act 1983
No. 9898 of 1983
s. 8
8 Evidence
(1) Where an application is made by the New Trustee
to vest any property in the New Trustee and the
application is accompanied by a certificate under
subsection (2) that the property has vested in the
New Trustee and the appropriate certificate of title
the Registrar of Titles shall without fee give effect
in the Register to such vesting by registering the
New Trustee as proprietor of the property.
S. 8(1)
amended by
No. 18/1989
s. 13(Sch. 2
item 1(a)(b)).
(2) A certificate under the seals of the New Trustee
and the Old Trustee to the effect that the estate or
interest of persons therein specified in land so
specified is an estate or interest vested in the New
Trustee by this Act shall for the purposes of—
(a) any application by the New Trustee to be
registered under the Transfer of Land Act
1958 as the proprietor of that estate or
interest pursuant to the vesting;
(b) any application by the New Trustee or a
successor in title of the New Trustee to bring
land under the Transfer of Land Act 1958;
(c) any transfer conveyance reconveyance
mortgage or other instrument or dealing
whatsoever in respect of any interest in any
such land (whether or not under the
Transfer of Land Act 1958); and
(d) any creation of easement or other interest in
respect of any such land (whether or not
under the Transfer of Land Act 1958)—
be conclusive evidence of the matters certified.
═══════════════
12
ANZ Executors & Trustee Company Act 1983
No. 9898 of 1983
Endnotes
ENDNOTES
General Information
The ANZ Executors & Trustee Company Act 1983 was assented to on
7 June 1983 and came into operation as follows:
Part 1 (sections 1, 2), Part 2 (section 3) on 7 June 1983: s. 1(2); Part 3
(section 4), Part 4 (section 5), Part 5 (sections 6–8) on 15 June 1983:
Government Gazette 15 June 1983 p. 1520.
13
ANZ Executors & Trustee Company Act 1983
No. 9898 of 1983
Endnotes
2. Table of Amendments
This Version incorporates amendments made to the ANZ Executors &
Trustee Company Act 1983 by Acts and subordinate instruments.
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Trustee Companies Act 1984, No. 10168/1984
Assent Date: 20.11.84
Commencement Date: 5.12.84: Government Gazette 5.12.84
p. 4329
Current State: All of Act in operation
Transfer of Land (Computer Register) Act 1989, No. 18/1989
Assent Date: 16.5.89
Commencement Date: 3.2.92: Government Gazette 18.12.91 p. 3488
Current State: All of Act in operation
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
14
ANZ Executors & Trustee Company Act 1983
No. 9898 of 1983
Endnotes
3. Explanatory Details
No entries at date of publication.
15