49STC to be trustee for STC schemes

#### 49 STC to be trustee for STC schemes 49 STC to be trustee for STC schemes > > (1) STC is the trustee for the STC schemes and is to hold in trust for the persons who are or will be entitled to benefits under the STC schemes all assets held by, and all contributions and other money paid or payable to, STC under this Act and any Act under which an STC scheme is constituted or established. > > > (2) STC is a trustee for the purposes of the [Trustee Act 1925](/view/html/inforce/current/act-1925-014). Accordingly, subject to this Act, and unless this Act, the [Trustee Act 1925](/view/html/inforce/current/act-1925-014) or any other Act otherwise provides, STC has the obligations, rights and duties of a trustee under Division 2 of Part 2 of the [Trustee Act 1925](/view/html/inforce/current/act-1925-014). > > Note. > > The effect of this is that STC is subject to both the common law obligations, duties and rights of trustees and the obligations, duties and rights of trustees under the [Trustee Act 1925](/view/html/inforce/current/act-1925-014). These are in addition to its obligations, duties and rights under this Act, unless the [Trustee Act 1925](/view/html/inforce/current/act-1925-014) or this Act otherwise provides.