sec.107Appointment of agent

sec.107 Appointment of agent

A trustee may, instead of acting personally, appoint an agent to transact business, or do another thing, required to be done in the administration of the trust. Without limiting subsection (1) , a trustee may appoint an agent to do 1 or more of the following— receive and pay amounts; give a receipt for property payable, transferable or deliverable to the trustee; keep trust accounts. The persons who may be appointed as an agent under this section include— an accountant; and a financial institution; and a financial services licensee, within the meaning of the Corporations Act , section 9 , whose Australian financial services licence under that Act covers dealing in, or providing advice about, securities; and a solicitor; and a trustee corporation. Also, a trustee may appoint a co-trustee as an agent. However, a trustee may not appoint a beneficiary of the trust as an agent even if the beneficiary is also a co-trustee. (sec.107-ssec.1) A trustee may, instead of acting personally, appoint an agent to transact business, or do another thing, required to be done in the administration of the trust. (sec.107-ssec.2) Without limiting subsection (1) , a trustee may appoint an agent to do 1 or more of the following— receive and pay amounts; give a receipt for property payable, transferable or deliverable to the trustee; keep trust accounts. (sec.107-ssec.3) The persons who may be appointed as an agent under this section include— an accountant; and a financial institution; and a financial services licensee, within the meaning of the Corporations Act , section 9 , whose Australian financial services licence under that Act covers dealing in, or providing advice about, securities; and a solicitor; and a trustee corporation. (sec.107-ssec.4) Also, a trustee may appoint a co-trustee as an agent. (sec.107-ssec.5) However, a trustee may not appoint a beneficiary of the trust as an agent even if the beneficiary is also a co-trustee.

• (a) receive and pay amounts;
• (b) give a receipt for property payable, transferable or deliverable to the trustee;
• (c) keep trust accounts.
• (a) an accountant; and
• (b) a financial institution; and
• (c) a financial services licensee, within the meaning of the Corporations Act , section 9 , whose Australian financial services licence under that Act covers dealing in, or providing advice about, securities; and
• (d) a solicitor; and
• (e) a trustee corporation.