76Provisions concerning the trustee

76 Provisions concerning the trustee

S. 76(1) amended by Nos 68/2010 s. 55(a), 79/2014 s. 26(a).

(1) A trustee is entitled to receive such fees, commissions and disbursements as may be approved by the Minister, or a prescribed person authorised by the Minister for the purposes of this subsection, on an application under this subsection in respect of the exercise of powers or the performance of duties in relation to property of which the trustee has taken control under a restraining order or a civil forfeiture restraining order or an unexplained wealth restraining order.

S. 76(2) amended by Nos 68/2010 s. 55(a), 79/2014 s. 26(a).

(2) If a trustee is directed by a restraining order or a civil forfeiture restraining order or an unexplained wealth restraining order to take control of property, the trustee may do anything that is reasonably necessary for the purpose of preserving the property including, but not limited to—

(a) becoming a party to any civil proceedings affecting the property;

(b) making sure that the property is insured;

(c) if the property consists, wholly or partly, of securities or investments—realising or otherwise dealing with the securities or investments;

(d) if the property consists, wholly or partly, of a business—

(i) employing, or terminating the employment of, persons in the business;

(ii) doing any other thing that is necessary or convenient for carrying on the business on a sound commercial basis;

(e) if the property consists, wholly or partly, of shares in a company—exercising (to the exclusion of the registered holder) the rights attaching to the shares as if the trustee were the registered holder.

S. 76(3) amended by Nos 68/2010 s. 55(a), 79/2014 s. 26(a).

(3) A person must not hinder or obstruct the trustee in the exercise of powers or the performance of duties by the trustee in relation to property of which the trustee has taken control under a restraining order or a civil forfeiture restraining order or an unexplained wealth restraining order.

(4) A certificate under the hand or seal of a trustee—

S. 76(4)(a) amended by Nos 68/2010 s. 55(a)(b), 79/2014 s. 26.

(a) certifying that a restraining order or a civil forfeiture restraining order or an unexplained wealth restraining order has been made directing the trustee to take control of property and that the restraining order or the civil forfeiture restraining order or the unexplained wealth restraining order is in force; and

S. 76(4)(b) amended by Nos 68/2010 s. 55(b), 79/2014 s. 26(b).

(b) stating the terms of the restraining order or the civil forfeiture restraining order or the unexplained wealth restraining order—