sec.41Advisory trustees

### sec.41 Advisory trustees In the administration as trustee of any estate under administration the public trustee may act with an advisory trustee or advisory trustees as herein provided. An advisory trustee or advisory trustees may be appointed— by order of the court made on the application of any beneficiary or of any person on whose application the court would have power to appoint a new trustee; or by the trust instrument; or by any person having power to appoint new trustees. Where the public trustee acts with an advisory trustee, the trust property shall be vested in the public trustee and the public trustee shall have the sole management and administration thereof as fully and effectually as if the public trustee were the sole trustee. However— the public trustee may consult the advisory trustee on any matter relating to the estate under administration; and the advisory trustee may advise the public trustee on any matter relating to the estate under administration. In cases of difference between the public trustee and an advisory trustee, either the public trustee or the advisory trustee may apply to the court for directions and the directions shall be final, and shall bind both the public trustee and the advisory trustee. No person dealing with the public trustee shall be concerned to inquire as to the concurrence or otherwise of the advisory trustee or be affected by notice of the fact that any advisory trustee has not concurred. The power of appointing a new advisory trustee when exercisable by the continuing advisory trustee shall be exercised by the public trustee alone, but the public trustee shall have the same power of applying to the court for the appointment of a new advisory trustee as is possessed by any other person. In determining the number of trustees for the purposes of the Trusts Act 1973 , an advisory trustee shall not be reckoned as a trustee. A regulation may provide, subject to any provisions of the trust instrument, for the remuneration of advisory trustees out of the estate under administration; but notwithstanding any provisions of the trust instrument or of a regulation, the court may in a particular case make such order as it thinks just, as to what (if any) remuneration any advisory trustee shall receive. s 41 amd 2007 No. 37 s 162 sch (sec.41-ssec.1) In the administration as trustee of any estate under administration the public trustee may act with an advisory trustee or advisory trustees as herein provided. (sec.41-ssec.2) An advisory trustee or advisory trustees may be appointed— by order of the court made on the application of any beneficiary or of any person on whose application the court would have power to appoint a new trustee; or by the trust instrument; or by any person having power to appoint new trustees. (sec.41-ssec.3) Where the public trustee acts with an advisory trustee, the trust property shall be vested in the public trustee and the public trustee shall have the sole management and administration thereof as fully and effectually as if the public trustee were the sole trustee. (sec.41-ssec.3A) However— the public trustee may consult the advisory trustee on any matter relating to the estate under administration; and the advisory trustee may advise the public trustee on any matter relating to the estate under administration. (sec.41-ssec.4) In cases of difference between the public trustee and an advisory trustee, either the public trustee or the advisory trustee may apply to the court for directions and the directions shall be final, and shall bind both the public trustee and the advisory trustee. (sec.41-ssec.5) No person dealing with the public trustee shall be concerned to inquire as to the concurrence or otherwise of the advisory trustee or be affected by notice of the fact that any advisory trustee has not concurred. (sec.41-ssec.6) The power of appointing a new advisory trustee when exercisable by the continuing advisory trustee shall be exercised by the public trustee alone, but the public trustee shall have the same power of applying to the court for the appointment of a new advisory trustee as is possessed by any other person. (sec.41-ssec.7) In determining the number of trustees for the purposes of the Trusts Act 1973 , an advisory trustee shall not be reckoned as a trustee. (sec.41-ssec.8) A regulation may provide, subject to any provisions of the trust instrument, for the remuneration of advisory trustees out of the estate under administration; but notwithstanding any provisions of the trust instrument or of a regulation, the court may in a particular case make such order as it thinks just, as to what (if any) remuneration any advisory trustee shall receive. - (a) by order of the court made on the application of any beneficiary or of any person on whose application the court would have power to appoint a new trustee; or - (b) by the trust instrument; or - (c) by any person having power to appoint new trustees. - (a) the public trustee may consult the advisory trustee on any matter relating to the estate under administration; and - (b) the advisory trustee may advise the public trustee on any matter relating to the estate under administration.