64Administration bond to be executed

64 Administration bond to be executed

64 Administration bond to be executed

(1) Every person to whom a grant of administration is made shall, previous to the issue of such administration, execute a bond to Her Majesty and her successors with one or more sureties conditioned for duly collecting, getting in, and administering the personal estate or real and personal estate of the deceased, which bond shall be in the form directed by the rules.

(2) It shall not be necessary for the NSW Trustee or for any person obtaining administration to the use or for the benefit of Her Majesty to execute any such bond.

(3) No such bond shall be required to be given by or on behalf of a trustee company, except in respect of estates exceeding $50,000 in value, in which the Court otherwise orders.

s 64: Am 1932 No 49, sec 8 (1) (c); 1970 No 52, Second Sch (am 1972 No 41, Second Sch); 1979 No 187, Sch 1 (2); 2009 No 49, Sch 2.47 [3].