The Act has several key concepts that define its operation.

Appointed day. This is the day fixed by the Minister by notice published in the Gazette (section 5(5)). It is the trigger for the revocation of trusts and vesting of property. Until that day, the trusts continue in their original form. The Minister has discretion to choose the date, which gives a practical window for the trustees to prepare for distribution and for the legal costs certification process under section 5(3).

Income Trust and Research Trust. These are the two trusts being revoked. Each has a defined trustee: the Income Trustee is Perpetual Trustees and National Executors of Tasmania Limited; the Research Trustee is Alma Lily Stackhouse, or if another person is appointed under section 4, that other person. The Act does not define the terms of these trusts beyond what is implied by their names; the Income Trust presumably held the shares and cash in Schedule 2, and the Research Trust held the Tasmanian Aboriginal Collection, the Hydro stock, and the bank account in Schedule 3.

Beneficiary. Defined as Ann Cripps. She receives one half of the Schedule 2 property absolutely. This is a direct grant from the trust assets, not a distribution under the original trust terms.

Settlor. Norman James Brian Plomley. He receives two categories of payment: (a) an amount certified by the Registrar of the Supreme Court as his legal costs incurred arising out of or incidental to the enactment of the Act; and (b) a fixed sum of $12,365 from the Research Trust money. The costs amount is not fixed by the Act; it is determined by the Registrar with regard to the scale of fees under the Supreme Court Civil Procedure Act 1932, and the Settlor must provide documents and information to the Registrar as required.

City. The corporation of the city of Launceston. It receives the residue of both trust funds after the above distributions. The residue is to be held pursuant to the agreement in Schedule 1, which establishes the Plomley Foundation. The Act makes the vesting to the City notwithstanding that agreement, meaning the agreement itself is overridden to the extent it might have provided otherwise.

Vesting. The property vests in the Beneficiary and the City absolutely, free from the trusts. For the Beneficiary, this is outright ownership. For the City, it is held on the terms of the Plomley Foundation agreement, which is not fully detailed in the source but appears to be a charitable or research foundation.

Legal costs certification. The Registrar of the Supreme Court must certify an amount as appropriate for legal costs incurred by the Settlor arising out of or incidental to the enactment. This is a unique feature: a statutory right for the settlor to have his costs of getting the Act passed reimbursed from the trust property. The Registrar applies the same scale as in the Supreme Court rules.

Stamp duty exemption. Section 6 provides two exemptions: (a) any document executed to give effect to any vesting under the Act is not liable to stamp duty; and (b) if within one year after the appointed day the Beneficiary disposes of any property vested in her under section 5(1)(b) in favour of one or more of her children, a document executed by her relating to that disposition is not liable to stamp duty. This is a time-limited exemption that reduces the transaction costs for the Beneficiary to pass assets to her children.

Indemnity for trustees. Section 7(1) bars any action or legal proceeding against the trustees in respect of the administration or intended administration of the trusts before the appointed day. This is a blanket retrospective indemnity, shielding them from claims based on how they managed the trusts before revocation. However, section 7(2) preserves actions to compel a person to perform a duty imposed by the Act , e.g., a trustee who refuses to pay out as required can still be sued.

Trustee appointment. Section 4 gives the Governor power to appoint another person as trustee for the Research Trust for purposes of performing duties under section 5(2)(b) or (d) (paying the $12,365 to the Settlor and executing transfers). This power is in addition to any power under the Research Trust deed as varied. It allows the state to step in if the named Research Trustee cannot or will not act.

The Act directly affects a narrow class of identified persons and bodies, but its mechanisms also affect the broader state administration, the Supreme Court registry, and potentially unborn beneficiaries.

The Beneficiary, Ann Cripps. She receives a substantial portfolio of shares (part of Schedule 2) plus half the cash. She also gets a one-year window to transfer any of that property to her children without stamp duty. Her freedom to dispose of the property is otherwise unrestricted, except that if she waits more than one year, the stamp duty exemption for dispositions to children lapses. This creates a time-limited incentive to make such transfers quickly, potentially before the value of the shares is known or before she has had time to assess the implications.

The Settlor, Norman James Brian Plomley. He receives two payments from the trust assets: his legal costs (which could be a significant sum, depending on the complexity of the Act's passage) and a fixed $12,365 from the Research Trust. He must apply to the Registrar of the Supreme Court for certification of costs, which imposes an administrative burden and requires him to disclose documents and information. The costs are paid out of the Schedule 2 property (the Income Trust half that does not go to the Beneficiary). The $12,365 is paid from the Research Trust money. He therefore has a direct financial interest in the Act being implemented.

The trustees. The Income Trustee (Perpetual Trustees) and the Research Trustee (Alma Lily Stackhouse or a replacement) are required to make payments, transfers, and deliveries under section 5(2). They must also execute assurances and make arrangements. They are protected from pre-appointed-day liability by the indemnity in section 7, but they could face claims for failing to perform their statutory duties (section 7(2) preserves those actions). The Act also preserves their right to charge commission and reimburse expenses before paying out (section 8). This means they can deduct their fees and expenses from the trust property, reducing the amounts that flow to the Beneficiary, Settlor, and City.

The City of Launceston. It receives the residue of both trust funds. It then must hold that property pursuant to the Plomley Foundation agreement in Schedule 1. The Act does not detail the City's obligations under that agreement, but the City becomes the custodian of the Tasmanian Aboriginal Collection (books, periodicals, manuscripts) and the financial assets. The City will need to administer the Foundation, which likely has charitable or research purposes. This imposes ongoing administrative and compliance costs on the City, and potentially restricts how the assets can be used.

The Registrar of the Supreme Court. The Registrar must certify the amount of the Settlor's legal costs, applying the relevant court scale and requiring documents from the Settlor. This is a one-off function, but it involves a quasi-judicial determination that could be challenged if the Settlor or others are dissatisfied.

The Minister and the Governor. The Minister fixes the appointed day, which controls timing. The Governor can appoint a substitute Research Trustee under section 4. These are discretionary powers that give the executive some control over implementation.

The State Librarian. The State Librarian is required on request by the City to deliver up the Tasmanian Aboriginal Collection. This is a ministerial act, but it affects the Library's control over a collection it has been holding. The Act does not provide for any compensation to the Library for the loss of this collection.

The children of Ann Cripps. They are potential recipients of property under the one-year stamp duty exemption. They are not named, but the exemption encourages a transfer to them within a tight timeframe. If the Beneficiary takes advantage, the children receive gifted property without the transfer costs of stamp duty.

The Tasmanian Aboriginal Collection as a cultural resource. The collection vests in the City, not in any Aboriginal organisation. The Act does not specify any ongoing access or management obligations, though the Foundation agreement may address that.

Future litigants and legal counsel. The costs provision sets a precedent for how costs of private legislation are treated. The statutory indemnity for trustees reduces the risk of future trust litigation but also eliminates potential claims against trustees for maladministration, which may affect creditors or beneficiaries who otherwise might have had rights.

The Act imposes specific duties on several actors and creates rights for the Beneficiary and the Settlor.

Duty of the Income Trustee. Under section 5(2)(a), the Income Trustee must pay one half of the money in Schedule 2 to the Beneficiary, an amount for legal costs (as certified) to the Settlor or his direction, and the balance to the City. This is a straightforward payment duty. The Income Trustee must also execute transfers and assurances to give effect to the vesting (section 5(2)(d)). It retains the right to charge commission and reimburse expenses before making any payment (section 8). So it is not required to pay until it has deducted its fees and costs. This right can delay or reduce the amounts actually received by the Beneficiary, Settlor, and City.

Duty of the Research Trustee. Under section 5(2)(b), the Research Trustee must pay $12,365 to the Settlor or his direction from the Schedule 3 money, and the balance to the City. It also must execute transfers and other assurances (section 5(2)(d)). If a substitute trustee is appointed under section 4, that person takes on these duties. The Research Trustee also has the right to deduct its own commission and expenses, though section 8 only refers to the Income Trustee. However, the Research Trustee (if a trust company) might have similar rights under general law or the trust deed, but the Act is silent on that.

Duty of the State Librarian. Section 5(2)(c) requires the State Librarian, on request by the City, to deliver up the Tasmanian Aboriginal Collection (books, periodicals, manuscripts, documents). This is a mandatory duty, but it is triggered only by a City request. The Librarian has no discretion to refuse.

Duty of the Registrar of the Supreme Court. On application by the Settlor, the Registrar must certify in writing to the Attorney-General an amount appropriate as legal costs (section 5(3)). The Registrar must have regard to the scale of fees under the Supreme Court Civil Procedure Act 1932 and may require the Settlor to provide documents and information (section 5(4)). The certification is a precondition for payment, so the Registrar has gatekeeping power over the amount of costs.

Right of the Settlor to costs. The Settlor is entitled to be paid an amount certified as his legal costs out of the remaining one half of the Schedule 2 property (section 5(1)(c)). He also is entitled to be paid $12,365 from the Schedule 3 money (section 5(1)(d)). These are rights against the trust property, but they are subject to the trustees’ deduction rights under section 8 for the Income Trust.

Right of the Beneficiary. She is entitled to receive one half of the Schedule 2 property absolutely (section 5(1)(b)). She also has the right to transfer any of that property to her children within one year of the appointed day without stamp duty (section 6(b)). This is a tax concession that reduces the cost of family estate planning.

Right of the City. The City is entitled to receive the residue of the property after the specific distributions (section 5(1)(e)). It must hold that property under the Plomley Foundation agreement. The Act does not give the City any discretion to refuse the property; it vests involuntarily.

Right of the trustees to be indemnified. Section 7 bars any action or proceeding against the trustees for pre-appointed-day administration. This is a right to be free from suit. However, it does not apply to actions to compel performance of a duty under the Act (section 7(2)), so trustees cannot use the indemnity to avoid their payment duties.

Right of the Governor to appoint a trustee. Under section 4, the Governor may appoint a person to act as trustee for the Research Trust for specific duties under section 5(2)(b) or (d). This appointment is valid as if made under the Research Trust deed as varied. This gives the state a backstop if the original trustee is unwilling or unable to act.

The Act does not create any specific criminal offences or penalties for non-compliance. Enforcement relies on civil remedies, the preserved right to sue for duties imposed by the Act, and potentially the general law governing trustees.

Civil enforcement of statutory duties. The key duties , payment by trustees, delivery by the State Librarian, execution of transfers , are enforceable by the persons entitled to the performance. The Beneficiary, the City, or the Settlor can bring an action in the Supreme Court to compel a trustee to pay or transfer property. Section 7(2) explicitly preserves actions to compel performance of a duty imposed by the Act, so the indemnity in section 7(1) does not shield trustees from an order to pay. This is significant: a trustee who refuses to make the required distributions can be sued despite the broad pre-appointed-day indemnity.

Contempt of court. If a trustee disobeys a court order to perform a duty, they could face contempt proceedings. However, the Act does not specify any penalty for non-compliance beyond normal civil enforcement.

Enforcement against the State Librarian. If the State Librarian refuses to deliver the Tasmanian Aboriginal Collection after a City request, the City could seek an order for specific performance or mandamus. The duty is mandatory and unconditional, so a court would likely enforce it.

No penalty for late payment. The Act does not impose interest or penalties if payments are delayed. The trustees are required to act "on, or as soon as practicable after, the appointed day" (section 5(2)). What is "practicable" is a question of fact. If a trustee delays unreasonably, the affected party could seek an order for prompt performance and possibly damages for loss of use of money, but the Act does not provide a statutory interest rate.

Stamp duty enforcement. The stamp duty exemption is a concession; if a document is not executed within the scope of section 6, normal stamp duty law will apply. There is no penalty for misusing the exemption beyond the duty itself.

No contract or tort liability. The indemnity in section 7(1) bars any common law claim against trustees for breach of trust, breach of duty, negligence, or other cause of action arising from their administration before the appointed day. This is a complete bar, not just a defence. Presumably it applies to claims by any person, not just the defined parties. However, it does not bar actions for fraud or ultra vires acts? The Act does not specify exceptions, but courts may interpret "administration... of the trusts" narrowly. A claim for misappropriation of trust property might not be "administration." However, the broad language likely covers all decisions and actions concerning the trusts.

Certification of costs. If the Settlor is dissatisfied with the Registrar's certification, what recourse does he have? The Act does not provide an appeal mechanism. The Registrar's decision is likely subject to judicial review on administrative law grounds (e.g., error of law, procedural fairness). The costs are paid out of the trust property, so the Settlor has a strong incentive to maximise the amount, and the trustees and City have an incentive to minimise it (since it reduces their residue). However, there is no statutory right for them to be heard on the certification; the Registrar consults only with the Settlor and applies the court scale.

The Plomley Trusts Act 1984 overrides several other Tasmanian laws in specific respects.

Stamp Duties Act 1931. Section 6 of the Plomley Act creates exemptions that prevail over the Stamp Duties Act. Documents giving effect to any vesting under the Plomley Act are not liable to stamp duty, and dispositions by the Beneficiary to her children within one year are also exempt. This is a narrow carve-out; other stamp duty provisions otherwise apply to trust distributions and transfers.

Trustee Companies Act 1953. Section 8 preserves the Income Trustee's right to charge commission under the Trustee Companies Act and to reimburse expenses. This means that the ordinary commercial rate for trustee services applies, and the Income Trustee can deduct that commission before paying out. The Research Trustee is not similarly protected in this Act; its commission rights would depend on the trust deed or general law.

Supreme Court Civil Procedure Act 1932. The Registrar, in certifying costs under section 5(3), must have regard to the scale of fees under that Act. That scale is a standard costs assessment tool. This interaction ensures that the Settlor's costs are not unlimited but are tied to court tariff.

General trust law. The Act overrides the terms of the Income Trust and Research Trust by revoking them on the appointed day. Any beneficial interests under those trusts are extinguished and replaced by the statutory vesting. The Act also overrides the deed of variation referred to in the preamble (paragraph V). The power of the Governor to appoint a trustee under section 4(1) is stated to be as valid "as if made pursuant to the powers conferred on the Governor by the Research Trust as varied by the deed". This means the original trust instrument may have given the Governor appointment powers; the Act confirms and expands them.

The Plomley Foundation agreement. The residue vests in the City "notwithstanding the agreement referred to in paragraph VII of the Preamble" (section 5(1)(e)). That agreement likely established the Foundation; the Act overrides any provision in it that would otherwise prevent the vesting or require a different distribution. The City must hold the residue pursuant to the agreement, so the Foundation still governs the use of the assets, but the transfer mechanism is statutory.

State Service Act or public records laws. The State Librarian is a state officer. The duty to deliver the Tasmanian Aboriginal Collection to the City suggests a transfer of custody from a state library to a municipal body. The Act does not address compliance with collection management or disposal policies; it simply mandates delivery.

Income Tax Assessment Act (Commonwealth). The Act does not address tax treatment. The vesting of property may have capital gains tax or other federal tax consequences for the Beneficiary, the City, and the Settlor. The stamp duty exemption is state-based; federal taxes still apply. The Settlor's receipt of $12,365 and his legal costs may be assessable income, depending on the nature of the payment. The Act gives no guidance, and professional tax advice would be needed.

Family law or child protection. The one-year window for dispositions to children might be relevant to maintenance obligations or property settlements under the Family Law Act 1975 (Cth). A transfer motivated by the stamp duty exemption could be subject to clawback if the Beneficiary later declares bankruptcy or if a family law order is made.

Supreme Court rules. The certification of costs is to be done by the Registrar, but the Act does not prescribe a procedure. The Registrar likely follows usual costs assessment procedures, but the Act modifies the scale to be used.

Privacy laws. The Settlor must provide documents and information to the Registrar (section 5(4)(b)). There is no express confidentiality protection, but the Registrar's functions are quasi-judicial and likely subject to implied duties of confidentiality. Still, the disclosure requirement could expose sensitive personal or financial information.

Succession and estate planning. The Act effectively constitutes a statutory will for the trusts, overriding the settlor's intentions. It creates immediate rights in the Beneficiary, the Settlor, and the City. If the Beneficiary dies before the appointed day, the vesting may still occur in her estate, unless the Act is interpreted differently. The Act does not address survivorship.

The source text provides only one explicit amendment note: section 5(4)(a) was amended by No. 66 of 2007, Schedule 1, applied from 31 December 2008. That amendment replaced a reference to "barristers and solicitors" or similar with "Australian legal practitioners" and updated the reference to the rules under the Supreme Court Civil Procedure Act 1932. This reflects changes in legal terminology and the bringing into effect of the Legal Profession Act 2007 or similar. No other amendments are noted in the source.

Given the Act is from 1984 and has only one recorded amendment, it is likely that the Act has remained substantially unchanged for decades. The lack of amendment suggests that after the trust revocation and vesting was completed, the Act has had no ongoing operational provisions that require updating. The key substantive provisions (revocation, vesting, stamp duty exemption, indemnity) are of a one-off nature; once the appointed day passes and payments are made, the Act becomes spent or largely historic. The amendment to the costs provision in 2007 was likely to align with contemporary legal profession terminology and court rules, rather than to change the substantive entitlement.

If the Act remains in force as a statutory instrument, it still has current effect: the exemptions from stamp duty and the indemnity for trustees continue to apply, and the definition provisions remain. However, if all distributions have been completed, the Act is essentially obsolescent. The amendment history suggests the legislature has not seen a need to repeal it, perhaps because residual issues (e.g., continuing trust for the Plomley Foundation) mean the Act still has some relevance.

The source text provides no case citations or references to any litigation. The Act itself does not mention any court proceedings. However, the private nature of the Act and the specific redistribution of trust assets suggest that the Act was the result of some controversy or arrangement that could not be resolved by trust variation or court order. Possibly the original trusts were irrevocable, or the beneficiaries could not agree, so Parliament was asked to intervene. Absent any litigation history in the source, we cannot state that any cases have interpreted this Act.

Nevertheless, potential litigation can be anticipated. If a trustee fails to pay, the Beneficiary or City could sue to enforce the statutory duty. The indemnity in section 7 could be tested: what constitutes "administration... of the trusts"? A claim that a trustee misappropriated trust property for personal benefit may not be covered. The one-year stamp duty exemption could be litigated if a document is executed outside that period and the Revenue disputes the exemption. The certification of costs by the Registrar could be challenged by judicial review if the Settlor argues the amount is too low or the Registrar failed to consider relevant information.

Given the narrow scope of the Act, any litigation would likely be limited to disputes about the timing and amounts of distributions, the scope of the trustee indemnity, or the interpretation of "vesting" for stamp duty purposes. No reported cases are known from the source, but research in Tasmanian case law might reveal unreported decisions. The deep dive can only note the absence of source-grounded litigation history.

Several provisions in the Act contain traps for the unwary.

Time limit on the Beneficiary’s stamp duty exemption. The exemption for dispositions to children under section 6(b) expires one year after the appointed day. The Beneficiary must act within that window or lose the concession. If the appointed day is delayed or unknown, she may have difficulty planning. The Minister’s discretion to fix the day means the start of the one-year period is not fixed by the Act but by executive action. She cannot start the clock herself.

The legal costs certification is not automatic. The Settlor must apply to the Registrar. If he fails to apply, he receives only the fixed $12,365, not the potentially larger costs amount. The burden is on him to provide documents and information (section 5(4)(b)). If he does not cooperate, the Registrar may not certify, and the Settlor loses the entitlement.

The Registrar certifies an amount he "considers appropriate." This is a subjective standard, not a full commercial reimbursement. The Registrar must have regard to the court scale, which may be lower than actual legal fees or the costs of obtaining the Act. The Settlor may end up with a shortfall.

The trustees’ rights to commission and expenses are paid before the distributions. Section 8 allows the Income Trustee to charge commission and reimbursement out of the trust property before making any payment required by the Act. This means the amounts the Beneficiary, Settlor, and City receive are net of those deductions. The Act does not cap the commission or expenses; it merely preserves the right under the Trustee Companies Act. The actual deductions could be significant, reducing the shares.

The indemnity in section 7(1) is absolute but not unlimited. It bars actions in respect of administration "before that day." If a trustee took an action after the appointed day that causes loss, the indemnity may not apply. Also, section 7(2) preserves actions to compel performance of a duty under the Act, so a trustee who refuses to pay can still be sued. However, a claim for negligent misstatement or breach of duty occurring before the appointed day is barred, even if the loss materialises later. This could disadvantage persons who might have had claims.

The City is forced to accept the residue. There is no provision for the City to decline the property. If the Plomley Foundation is already established, the City must administer it. The Act does not specify the City’s liability for any pre-existing obligations of the trusts (e.g., debts, pending lawsuits). The trusts are revoked and the property vests free from trusts, but creditors might still have claims against the trust estate. The Act does not address this; likely the general law on trust creditor rights applies, and the City could be exposed if it takes property subject to claims.

The State Librarian must deliver the collection on request. The City may delay requesting, leaving the Librarian in limbo. The Act does not set a time limit for the City to make the request. The collection remains with the State Library until the City acts. The Librarian cannot force the City to accept it.

The one-year disposition exemption applies only to property vested under section 5(1)(b). That is the one-half of Schedule 2 property that goes to the Beneficiary absolutely. It does not apply to any other property she might acquire from the trusts (e.g., if she later receives a distribution from the City). So only the shares and cash from Schedule 2 qualify for the exemption.

The exemption applies only to documents executed by the Beneficiary. If she sells the shares and then her children buy them, that won’t qualify. The exemption is for direct gifts or transfers during the one-year period.

The Governor’s power to appoint a trustee is discretionary and not subject to review. If the Governor declines to appoint a substitute, the original trustee (Alma Lily Stackhouse) remains liable to perform the duties. If she is unable (e.g., due to death or incapacity), the Act does not provide a mechanism for replacement beyond the Governor’s discretion. This could cause a deadlock.

Compliance with the Plomley Trusts Act 1984 is largely a matter of ensuring the trust revocation and vesting occur according to the statutory timeline. The following steps are required for each affected party.

For the Minister. The Minister must publish a notice in the Gazette fixing the appointed day (section 5(5)). This should be done with sufficient lead time for all parties to prepare. The appointed day should be after the legal costs certification is completed, so that the Settlor knows the amount before distributions are made. The Minister should coordinate with the trustees, the Registrar, and the City.

For the Settlor, Norman James Brian Plomley. He should apply to the Registrar of the Supreme Court for certification of his legal costs as soon as possible after the Act receives Royal Assent. He must provide the Registrar with all relevant documents (invoices, correspondence, time records) and any information required. He should also notify the trustees in writing of his entitlement to $12,365, and provide directions for where the costs and the $12,365 should be paid (e.g., his own bank account or trust account). He should keep records of his costs to substantiate the application.

For the Registrar of the Supreme Court. Upon receiving the Settlor’s application, the Registrar must assess an appropriate amount with regard to the Supreme Court scale. The Registrar should obtain any further documents from the Settlor and then certify the amount in writing to the Attorney-General. The certificate should be issued before the appointed day so that the trustees know the amount when making payments.

For the Income Trustee (Perpetual Trustees and National Executors of Tasmania Limited). Before the appointed day, the trustee should calculate its commission and expenses due under the Trustee Companies Act 1953 and section 8. It should then deduct those amounts from the Schedule 2 property. On or as soon as possible after the appointed day, it must pay: (i) one half of the money (after deductions) to the Beneficiary; (ii) the certified legal costs amount to the Settlor or as he directs (this comes from the remaining half of the money); (iii) the balance of that half to the City. It must also execute any transfers of the shares in BHP, Commonwealth Industrial Gases, and Castlemaine Tooheys to the Beneficiary and the City according to their respective shares. It should obtain receipts and releases from the payees.

For the Research Trustee (Alma Lily Stackhouse or appointed substitute). The trustee should deduct any allowable commission and expenses (though section 8 only covers the Income Trustee; the Research Trustee may rely on its own trust deed or general law). On or after the appointed day, it must pay $12,365 to the Settlor or his direction from the Schedule 3 money, and pay the balance to the City. It must also facilitate the transfer of the Hydro-Electric Commission stock and the bank account to the City. The Tasmanian Aboriginal Collection is held by the State Librarian, so the Research Trustee may need to cooperate with the delivery.

For the State Librarian. Upon receiving a written request from the City, the Librarian must deliver up all items in the Tasmanian Aboriginal Collection. The Librarian should obtain a written acknowledgment of receipt from the City. If the City does not request, the Librarian should document that and may contact the City to prompt the request.

For the City of Launceston. The City should ensure it receives the residue from both trustees and the Tasmanian Aboriginal Collection. It must then hold those assets pursuant to the Plomley Foundation agreement. The City should establish a separate trust or fund to manage the Foundation assets in accordance with that agreement. It should also issue a request to the State Librarian for the collection. The City should monitor the one-year period for any stamp duty exemption claims by the Beneficiary and may need to assist with documentation if the Beneficiary transfers assets to children.

For the Beneficiary, Ann Cripps. She should receive one half of the Schedule 2 property. She should decide within the one-year period whether to transfer any of that property to her children to benefit from the stamp duty exemption. If she does, she must execute the transfer documents and ensure they are lodged within one year of the appointed day. She should obtain professional advice on the capital gains tax and other federal consequences of receiving the shares and making gifts.

Overall, all parties should retain copies of all documents executed to give effect to the vesting, the Gazette notice fixing the appointed day, the Registrar’s certificate, and receipts of payments. They should also maintain records of the trustees’ commission and expenses deductions, as these are potentially subject to challenge or audit.