sec.104Manner in which public trustee may become administrator

### sec.104 Manner in which public trustee may become administrator The court may appoint the public trustee as administrator under this division of any unclaimed property, on the application ex parte of the public trustee, if it appears that the appointment is desirable in the interests of the owner of the property or of any other person, or, in the case of land, to secure the development or better utilisation thereof, or otherwise. If the public trustee is of the opinion that the gross value of any unclaimed property does not exceed $75,000 and is satisfied that it is desirable for the reasons specified in subsection (1) that the public trustee should become the administrator thereof, the public trustee may, without making application to the court as provided by subsection (1) , elect to be such administrator and thereupon the public trustee shall become the administrator under this division of such unclaimed property without any order of the court. Before making application to the court pursuant to subsection (1) or electing pursuant to subsection (2) the public trustee shall give 2 months notice of the public trustee’s intention to do so by advertisement in such newspaper as the public trustee considers suitable. Where, in exceptional circumstances, it is necessary, for the preservation or protection of the property or of its value or for other special reasons, for the period of notice to be abridged or for notice to be dispensed with, the court may, on the application of the public trustee, order that such period be abridged or such notice be dispensed with, or make any other order that it thinks desirable including any order that it has jurisdiction to make under any of the other provisions of this division. If the public trustee is of the opinion that the gross value of the unclaimed property does not exceed $3,000, the public trustee may elect to become, and thereafter shall become, the administrator of such property under this division without giving such notice. The public trustee shall not be obliged to take any steps or proceedings to be appointed or to become administrator of any unclaimed property. s 104 amd 1988 No. 73 s 9 ; 1994 No. 24 s 3 (1) sch ; 2004 No. 43 s 106 (sec.104-ssec.1) The court may appoint the public trustee as administrator under this division of any unclaimed property, on the application ex parte of the public trustee, if it appears that the appointment is desirable in the interests of the owner of the property or of any other person, or, in the case of land, to secure the development or better utilisation thereof, or otherwise. (sec.104-ssec.2) If the public trustee is of the opinion that the gross value of any unclaimed property does not exceed $75,000 and is satisfied that it is desirable for the reasons specified in subsection (1) that the public trustee should become the administrator thereof, the public trustee may, without making application to the court as provided by subsection (1) , elect to be such administrator and thereupon the public trustee shall become the administrator under this division of such unclaimed property without any order of the court. (sec.104-ssec.3) Before making application to the court pursuant to subsection (1) or electing pursuant to subsection (2) the public trustee shall give 2 months notice of the public trustee’s intention to do so by advertisement in such newspaper as the public trustee considers suitable. (sec.104-ssec.3A) Where, in exceptional circumstances, it is necessary, for the preservation or protection of the property or of its value or for other special reasons, for the period of notice to be abridged or for notice to be dispensed with, the court may, on the application of the public trustee, order that such period be abridged or such notice be dispensed with, or make any other order that it thinks desirable including any order that it has jurisdiction to make under any of the other provisions of this division. (sec.104-ssec.3B) If the public trustee is of the opinion that the gross value of the unclaimed property does not exceed $3,000, the public trustee may elect to become, and thereafter shall become, the administrator of such property under this division without giving such notice. (sec.104-ssec.4) The public trustee shall not be obliged to take any steps or proceedings to be appointed or to become administrator of any unclaimed property.