11Fee for management of common fund

11 Fee for management of common fund

11 Fee for management of common fund

(1) NSW Trustee may charge to an estate a fee—

(a) for managing an investment for a managed person in a common fund, or

(b) in any other case—for the work done and services rendered in establishing, keeping (including the keeping of books of account) and conduct of a common fund in respect of matters to which this Part applies.

(2) The fee is to be calculated at a rate not exceeding—

(a) in respect of the management of estates of managed persons—0.35% per annum of the value of the investment, or

(b) in any other case—0.35% per annum on the capital sums invested in the common fund in respect of matters to which this Part applies during the period in which the work is done or the services rendered.

cl 11: Am 2021 (767), Sch 1[1].