sec.261Audit conducted before commencement

sec.261 Audit conducted before commencement

This section applies if— before the commencement, the accounts of trust property were examined or audited under the repealed Act, section 52(1); and immediately before the commencement, the costs of the examination or audit had not been charged against the capital or income of the trust property. The repealed Act, section 52(2) and (3) continues to apply in relation to the costs of the examination or audit as if this Act had not been enacted. (sec.261-ssec.1) This section applies if— before the commencement, the accounts of trust property were examined or audited under the repealed Act, section 52(1); and immediately before the commencement, the costs of the examination or audit had not been charged against the capital or income of the trust property. (sec.261-ssec.2) The repealed Act, section 52(2) and (3) continues to apply in relation to the costs of the examination or audit as if this Act had not been enacted.

• (a) before the commencement, the accounts of trust property were examined or audited under the repealed Act, section 52(1); and
• (b) immediately before the commencement, the costs of the examination or audit had not been charged against the capital or income of the trust property.