Trusts Act 2025
sec.258Application of insurance money
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sec.258 Application of insurance money
Section 115 applies in relation to an amount received by a trustee under an insurance policy— whether the policy was taken out before or after the commencement; but only if the amount is received after the commencement. The repealed Act, section 48 continues to apply in relation to an amount received by a trustee under an insurance policy before the commencement as if this Act had not been enacted. (sec.258-ssec.1) Section 115 applies in relation to an amount received by a trustee under an insurance policy— whether the policy was taken out before or after the commencement; but only if the amount is received after the commencement. (sec.258-ssec.2) The repealed Act, section 48 continues to apply in relation to an amount received by a trustee under an insurance policy before the commencement as if this Act had not been enacted.
- (a) whether the policy was taken out before or after the commencement; but
- (b) only if the amount is received after the commencement.