18Commission chargeable by trustee company

18 Commission chargeable by trustee company

[Section 18 Subsection (1) amended by No. 55 of 1965, s. 3 and Sched. 1 ][Section 18 Subsection (1) amended by No. 25 of 1970, s. 4 ][Section 18 Subsection (1) amended by No. 91 of 1975, s. 3 ][Section 18 Subsection (1) amended by No. 64 of 1985, s. 13 ][Section 18 Subsection (4) amended by No. 64 of 1985, s. 13 ][Section 18 Subsection (4A) amended by No. 9 of 2006, s. 18, Applied:01 Oct 2006] [Section 18 Subsection (4A) amended by No. 9 of 2006, s. 18, Applied:01 Oct 2006] [Section 18 Subsection (4A) inserted by No. 25 of 1970, s. 4 ][Section 18 Subsection (4B) inserted by No. 22 of 2000, s. 5, Applied:16 Jun 2000] [Section 18 Substituted by No. 49 of 2010, s. 13, Applied:01 Jan 2011]

(1)  A trustee company may, in addition to any money properly expended by it and chargeable against an estate placed under its administration or control, charge and receive commission at such rate as the board of directors or other governing body of the trustee company determines.

(2)  However, the commission must not in any case exceed the limits set or permitted by or under Part 5D.3 of Chapter 5D of the Corporations Act.