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264 Businesses carried on before commencement
(1) This section applies if, immediately before the
commencement, a trustee was carrying on a business under
the repealed Act, section 57.
(2) The repealed Act, section 57 continues to apply to the trustee
in relation to the business as if this Act had not been enacted.
Division 7 Provisions for maintenance,
education and advancement
265 Accumulations of surplus trust income held before
commencement
(1) This section applies if, immediately before the
commencement, a trustee held accumulations of the income
of trust property under the repealed Act section 61(2),
including that section as applied by the repealed Act, section
61(5).
(2) Section 125, including that section as applied by section 127,
applies in relation to the accumulations as if they were
amounts invested and held by the trustee under section 125(2).
266 Application of trust capital, and bringing particular
amounts into account, if capital paid or applied before
commencement
(1) This section applies if, before the commencement, a trustee
exercised power under the repealed Act, section 62 to pay or
apply an amount out of the trust capital in relation to a
beneficiary of the trust.
(2) For exercising power under section 128 in relation to the
beneficiary, the reference in section 128(4) to the amounts of
the relevant capital paid or applied is taken to include a
reference to the amount paid or applied out of the trust capital
in relation to the beneficiary under the repealed Act, section
62.
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(3) Also, section 131 applies in relation to the beneficiary as if the
reference in that section to an amount paid or applied out of
relevant capital under part 8, division 3 included a reference to
an amount paid or applied out of the trust capital in relation to
the beneficiary under the repealed Act, section 62.
267 Requirement for chief executive to publish prescribed
amount for financial year
The first financial year in relation to which section 130(2)
applies is the financial year mentioned in section 130(1)(b).
268 Conditions imposed before commencement on advances
for maintenance etc.
(1) This section applies if, immediately before the
commencement, a condition imposed under the repealed Act,
section 63 was still in effect.
(2) Part 8, division 4 applies in relation to the condition as if it
were a condition imposed under section 132(2) in exercising a
power mentioned in section 132(1).
269 Existing protective trusts
(1) This section applies if, immediately before the
commencement, income (including an annuity or other
periodical income payment) was directed to be held on
protective trusts for the benefit of any person for the period of
the person’s life or for any less period.
(2) Until the end of the period mentioned in subsection (1), the
income continues to be held on the trusts provided for under
the repealed Act, section 64 as if this Act had not been
enacted.
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Division 8 Provisions for indemnities and
protection of trustees and other
persons
270 Protection against liability for rents and covenants if
accrued liabilities satisfied before commencement
(1) This section applies if—
(a) before the commencement, a personal representative or
trustee who was liable under a lease, grant or indemnity
for a matter mentioned in the repealed Act, section
66(1)(a), (b) or (c) satisfied all liabilities that had
accrued and, if necessary, set apart a fund as mentioned
in the repealed Act, section 66(1); but
(b) immediately before the commencement, the personal
representative or trustee had not distributed the
residuary real and personal estate of the deceased
testator or intestate, or the trust estate, under the
repealed Act, section 66(1)(d).
(2) The repealed Act, section 66 continues to apply in relation to
the distribution of the residuary real and personal estate, or the
trust estate, as if this Act had not been enacted.
271 Existing notices of intended distribution of trust property
or estate
(1) This section applies if—
(a) before the commencement, a trustee or personal
representative gave notice under the repealed Act,
section 67(1) in relation to the distribution of any trust
property or estate; and
(b) either—
(i) the date fixed in the notice for the sending of
particulars of claims was a date on or after the
commencement; or
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(ii) if subparagraph (i) does not apply—immediately
before the commencement, the trust property or
estate had not been distributed.
(2) The repealed Act, section 67 continues to apply in relation to
the distribution of the trust property or estate as if this Act had
not been enacted.
272 Existing notices calling on claimants and potential
claimants to take legal proceedings etc.
(1) This section applies in relation to a claim mentioned in the
repealed Act, section 68(1) if—
(a) before the commencement, a trustee served a notice
under the repealed Act, section 68(1) calling on the
claimant or a person who may become a claimant,
within a period of 6 months from the date of service of
the notice, to take legal proceedings to enforce the claim
and also to prosecute the proceedings with all due
diligence; and
(b) immediately before the commencement—
(i) the period of 6 months had not ended; or
(ii) the claimant or other person had not complied with
the notice.
(2) The repealed Act, section 68 continues to apply in relation to
the claim, and a proceeding started under the repealed Act,
section 68(2) must be heard and decided as if this Act had not
been enacted.
(3) However, for deciding the proceeding, the reference in the
repealed Act, section 68(3)(a) to barring the claim is taken to
be a reference to barring the claim (including for all
purposes).
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273 Existing proceedings for orders in relation to
proceedings not taken or prosecuted in compliance with
notice served before commencement
(1) This section applies if a proceeding under the repealed Act,
section 68(2) was started, but not finally decided, before the
commencement.
(2) The repealed Act, section 68 continues to apply in relation to
the proceeding, and the proceeding must be heard and
decided, as if this Act had not been enacted.
(3) However, for deciding the proceeding, the reference in the
repealed Act, section 68(3)(a) to barring the claim is taken to
be a reference to barring the claim (including for all
purposes).
274 Remedies for wrongful distribution of trust property
(1) Part 9, division 3 applies in relation to the enforcement of a
remedy for the wrongful distribution of trust property—
(a) whether the wrongful distribution was made before or
after the commencement; but
(b) only if a proceeding to enforce the remedy was not
started before the commencement.
(2) The repealed Act, section 113 continues to apply in relation to
a proceeding started before the commencement to enforce a
remedy for the wrongful distribution of trust property as if this
Act had not been enacted.
275 Effect of order made before commencement refusing
leave to enforce remedy for wrongful distribution of trust
property in particular way
(1) This section applies if—
(a) before the commencement—
(i) a person suffered loss because of a trustee’s
wrongful distribution of trust property; and
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(ii) the person applied for the leave of the court, as
mentioned in the repealed Act, section 113(2), to
enforce a remedy against another person in respect
of the wrongful distribution without first
exhausting all remedies that may have been
available to the person against the trustee; and
(iii) the court made an order refusing the person’s
application for leave; and
(b) immediately before the commencement, the person had
not started a proceeding against the trustee to enforce a
remedy in respect of the wrongful distribution.
(2) On the commencement, the order ceases to have effect.
(3) Without limiting section 274(1), to remove any doubt, it is
declared that section 143(3) applies to the person for the
purpose of enforcing a remedy in respect of the wrongful
distribution of the trust property.
276 Expenses reasonably incurred before commencement in
administering trust
Section 149 applies in relation to expenses reasonably
incurred in administering a trust whether the expenses were
incurred before or after the commencement.
277 Statement in existing instrument about vacancy in trust
or removal of trustee
Section 151 applies in relation to an instrument under which a
new trustee is appointed or a trustee is removed, whether the
instrument was made before or after the commencement.
278 Power of court to relieve trustee from personal liability for
breach of trust committed before commencement
Section 155 applies in relation to a breach of trust whether the
breach was committed before or after the commencement.
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279 Power of court to make beneficiary indemnify for breach
of trust committed before commencement
Section 156 applies in relation to a breach of trust whether the
breach was committed before or after the commencement.
280 Indemnity for acts done under particular court orders
To remove any doubt, it is declared that a reference in section
157 to an order purporting to be made under this Act includes
a reference to an order purporting to be made under a
provision of the repealed Act that, under a provision of this
Act, continues to apply after the commencement.
Division 9 Provisions for remuneration of
trustees
281 Existing proceedings for remuneration of trustees
(1) This section applies if a proceeding under the repealed Act,
section 101(1) was started, but not finally decided, before the
commencement.
(2) The repealed Act continues to apply in relation to the
proceeding, and the proceeding must be heard and decided, as
if this Act had not been enacted.
282 Proceedings for remuneration of trustees for whom
charges have been paid out under repealed Act
(1) This section applies if—
(a) before the commencement, charges were paid out of
trust property to a trustee under the repealed Act, section
101(2); and
(b) after the commencement, the trustee starts a proceeding
under section 160.
(2) Section 160 applies in relation to the proceeding as if the
reference in section 160(2) to professional charges paid out of
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the trust property to the trustee under section 159 included a
reference to charges paid out of the trust property to the
trustee under the repealed Act, section 101(2).
283 Application of s 161 to amounts charged, or proposed to
be charged, for commission or professional charges
Section 161 applies only in relation to an amount for
commission or professional charges that is charged, or
proposed to be charged, after the commencement.
Division 10 Provisions for court powers
284 Existing proceedings under particular provisions of
repealed Act
(1) This section applies if, immediately before the
commencement, a proceeding started under any of the
following provisions of the repealed Act had not been finally
decided—
(a) section 8;
(b) part 7, division 2 or 3;
(c) part 7, division 4, other than section 101.
(2) The repealed Act continues to apply in relation to the
proceeding, and the proceeding must be heard and decided
under the repealed Act, as if this Act had not been enacted.
285 Powers etc. of trustees appointed by court under
repealed Act, s 80
The reference in section 167(1) to a person appointed by an
order made under section 166(2) as the trustee of trust
property is taken to include—
(a) a reference to a person appointed as a trustee under the
repealed Act, section 80 whose appointment was still in
effect immediately before the commencement; and
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(b) a reference to a person appointed as a trustee after the
commencement under the repealed Act, section 80 as
applied by section 284.
286 Power to disqualify particular persons from appointment
as trustees and remove them as trustees of other trusts
The reference in section 168(1)(a) to a person removed as
trustee of a trust under section 166(2)(c) is taken to include a
reference to a person who is replaced as a trustee, after the
commencement, on the making of an order appointing a new
trustee in substitution for the person under the repealed Act,
section 80 as applied by section 284.
287 Circumstances relating to validity of vesting and other
orders made under repealed Act
(1) This section applies in relation to a vesting order or any other
order, declaration or direction, other than a relevant property
order, made or given—
(a) before the commencement under the repealed Act, part
7, division 3; or
(b) after the commencement under the repealed Act, part 7,
division 3 as applied by section 284.
(2) Section 176 applies in relation to the vesting order or the other
order, declaration or direction as if it had been made, or given,
under section 171.
(3) In this section—
relevant property order means an order under the repealed
Act, section 86 or 87.
288 Agreements entered into for infants by court-appointed
persons
(1) This section applies if—
(a) immediately before the commencement, a person
appointed by an order made under the repealed Act,
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section 86(1) to enter into an agreement for or on behalf
of an infant had not entered into the agreement; or
(b) after the commencement, the court makes an order
under the repealed Act, section 86(1) as applied by
section 284.
(2) The repealed Act, section 86(2) continues to apply to an
agreement entered into under the order after the
commencement in accordance with the repealed Act, section
86.
289 Orders authorising dealings etc. in relation to particular
property to which infants are beneficially entitled
(1) This section applies if—
(a) immediately before the commencement, an order made
under the repealed Act, section 87(1)(a) or (b) was still
in effect; or
(b) after the commencement, an order is made under the
repealed Act, section 87(1)(a) or (b) as applied by
section 284.
(2) The repealed Act, section 87(2) continues to apply to an act
done under the order after the commencement in accordance
with the repealed Act, section 87.
290 Vesting orders made under repealed Act
(1) This section applies if—
(a) immediately before the commencement, the trustees of a
trust had not complied with the repealed Act, section
90(3) in relation to the notification, registration or
recording of a vesting order made under the repealed
Act, part 7, division 3; or
(b) after the commencement, a vesting order is made under
the repealed Act, part 7, division 3 as applied by section
284.
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