5Remuneration of advisory trustees

5 Remuneration of advisory trustees

(1)  If an advisory trustee is appointed in accordance with section 22 of the Act, the advisory trustee is to be remunerated, subject to the provisions of a relevant trust instrument, at a rate –

(a) subject to paragraph (b) , that is determined by the Public Trustee with the agreement of the trustees; and

(b) that does not exceed 2% of the gross capital value of the estate of which the person is the advisory trustee.

(2)  Unless otherwise specified, the remuneration determined under subregulation (1) is determined exclusive of GST.