QLDIn ForceAct
Building Industry Fairness (Security of Payment) Act 2017
sec.51CTrustee not entitled to payment for administration of trust or fees
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### sec.51C Trustee not entitled to payment for administration of trust or fees
This section applies to costs incurred for—
the administration of a project trust or retention trust; or
fees payable in relation to a project trust or retention trust.
The trustee for the project trust or retention trust is not entitled to recover the costs from a beneficiary or the funds held in trust for a beneficiary.
In this section—
beneficiary , of a project trust or retention trust, does not include a beneficiary who is also the trustee for the trust.
s 51C ins 2020 No. 24 s 63
(sec.51C-ssec.1) This section applies to costs incurred for— the administration of a project trust or retention trust; or fees payable in relation to a project trust or retention trust.
(sec.51C-ssec.2) The trustee for the project trust or retention trust is not entitled to recover the costs from a beneficiary or the funds held in trust for a beneficiary.
(sec.51C-ssec.3) In this section— beneficiary , of a project trust or retention trust, does not include a beneficiary who is also the trustee for the trust.
- (a) the administration of a project trust or retention trust; or
- (b) fees payable in relation to a project trust or retention trust.