sec.85Power to expend amounts

sec.85 Power to expend amounts

A trustee may, in relation to the trust property, expend an amount, including an amount from capital, that is subject to the same trusts for 1 or more of the following purposes— to maintain or renovate the trust property, whether or not the work is necessary for the purpose of salvaging the property; to improve or develop the trust property; to pay calls on shares subject to the same trust; to pay outgoings in relation to the trust property; if the trust property is land or a water allocation—to subdivide the land or water allocation and pay related expenses; to provide, construct or maintain any of the following for the trust property if they are likely to be beneficial to the property— roads, footpaths and other works for pedestrian or vehicular use; utility services and other works. If the trustee is a trustee corporation, the trustee may exercise the power conferred under subsection (1) (c) even if the shares on which the calls are made are shares in the trustee corporation. In this section— maintain , in relation to property, includes repair the property and provide for the upkeep of the property. outgoings includes rates, premiums, taxes, assessments and insurance premiums. (sec.85-ssec.1) A trustee may, in relation to the trust property, expend an amount, including an amount from capital, that is subject to the same trusts for 1 or more of the following purposes— to maintain or renovate the trust property, whether or not the work is necessary for the purpose of salvaging the property; to improve or develop the trust property; to pay calls on shares subject to the same trust; to pay outgoings in relation to the trust property; if the trust property is land or a water allocation—to subdivide the land or water allocation and pay related expenses; to provide, construct or maintain any of the following for the trust property if they are likely to be beneficial to the property— roads, footpaths and other works for pedestrian or vehicular use; utility services and other works. (sec.85-ssec.2) If the trustee is a trustee corporation, the trustee may exercise the power conferred under subsection (1) (c) even if the shares on which the calls are made are shares in the trustee corporation. (sec.85-ssec.3) In this section— maintain , in relation to property, includes repair the property and provide for the upkeep of the property. outgoings includes rates, premiums, taxes, assessments and insurance premiums.

• (a) to maintain or renovate the trust property, whether or not the work is necessary for the purpose of salvaging the property;
• (b) to improve or develop the trust property;
• (c) to pay calls on shares subject to the same trust;
• (d) to pay outgoings in relation to the trust property;
• (e) if the trust property is land or a water allocation—to subdivide the land or water allocation and pay related expenses;