1Public Trustee Regulations 2025

South Australia Public Trustee Regulations 2025 under the Public Trustee Act 1995

Contents 1 Short title 2 Commencement 3 Interpretation 4 Commission and prescribed fees Schedule 1—Common fund—commission 1 Commission on capital 2 Commission on income Schedule 2—Commission Part 1—Commission on capital Part 2—Commission on income Part 3—General Schedule 3—Repeal and transitional provision 1 Repeal of Public Trustee Regulations 2010 2 Transitional provision Legislative history

1—Short title These regulations may be cited as the Public Trustee Regulations 2025. 2—Commencement These regulations come into operation on the day on which they are made. 3—Interpretation In these regulations— Act means the Public Trustee Act 1995. 4—Commission and prescribed fees (1) For the purposes of section 29(6a) of the Act, the rates or amounts of commission to be charged against an amount at credit in a common fund on account of a class of persons referred to in section 29(1)(b) of the Act are as set out in Schedule 1. (2) For the purposes of section 45 of the Act, the rates or amounts of commission to be charged against an estate under the control of the Public Trustee (otherwise than under section 75 of the Succession Act 20231) are as set out in Schedule 2. (3) If a maximum or minimum rate or amount is provided in Schedule 1 or Schedule 2, or in relation to prescribed fees, the Public Trustee may determine the rate or amount in a particular case, subject to that maximum or minimum. Note— 1 Section 75 of the Succession Act 2023 provides for the vesting of an intestate estate in the Public Trustee until administration is granted in respect of the estate. Schedule 1—Common fund—commission 1—Commission on capital Commission— (a) in respect of estates administered by the Public Trustee, on money that is invested in a common fund on behalf of the beneficiaries of the estates that would otherwise be distributed to the beneficiaries; or (b) on money that is invested in a common fund on behalf of all other classes of persons referred to in section 29(1)(b) of the Act, must be charged at a rate not exceeding the maximum rate of 1% of the capital amount invested. 2—Commission on income Commission on income received in respect of money invested in a common fund on behalf of a class of persons referred to in section 29(1)(b) of the Act, must be charged at a rate not exceeding the maximum rate of 5%. Schedule 2—Commission Part 1—Commission on capital 1 (1) Subject to this Schedule, commission— (a) in respect of estates of deceased persons and trust estates or funds held by the Public Trustee alone or with another person, on— (i) the proceeds of all assets realised; and (ii) money collected; and (iii) the value of unrealised property transferred or delivered in kind to, or specifically appropriated in trust for, a person entitled; or (b) in respect of estates of protected persons (within the meaning of the Aged and Infirm Persons' Property Act 1940 or the Guardianship and Administration Act 1993) being managed or administered by the Public Trustee, on— (i) the proceeds of all assets realised; and (ii) money collected; and (iii) the value of unrealised property to which the estate is entitled at the conclusion of the management of the estate, must be charged at a rate not exceeding the maximum rates set out in the following table: