17Power to use funds for benefit of minors and other incapable persons

17 Power to use funds for benefit of minors and other incapable persons

17 Power to use funds for benefit of minors and other incapable persons

(cf PT Act, s 34)

(1) This section applies if—

(a) a minor is entitled to money held by the NSW Trustee or is entitled to any such money contingently on attaining an age specified in an instrument creating the entitlement, or

(b) a person (an incapable person) is entitled to money held by the NSW Trustee and is, in its opinion, not capable of giving a good discharge.

(2) The NSW Trustee may pay, or pay to any person it thinks fit, amounts of the money to be used for the past or future maintenance, education, advancement or benefit of the minor or incapable person (including the reimbursement of expenses already paid in that connection).

(3) The Supreme Court may, on application by the NSW Trustee, give or vary or revoke directions as to the payment or application of money held by the NSW Trustee to or in respect of a minor or incapable person or determine any related manner.

(4) Any such direction or determination exonerates the NSW Trustee from any claim or demand from any person at all.

(5) The NSW Trustee is not required to see to the application of money paid under this section.