New South Wales Consolidated Acts

TRUSTEE COMPANIES ACT 1964 - SCHEDULE 2

SCHEDULE 2 – Transferred provisions--Burns Philp Trustee Company Limited Act 1990

1 Definitions

(1) In this Schedule,
"repealed Act" means the Burns Philp Trustee Company Limited Act 1990 .

(2) Terms defined in the repealed Act have the same meanings in this Schedule as they had in that Act immediately before the repeal of that Act.

2 Rights, duties and liabilities related to transfer of property

(1) Permanent Trustee Company Limited is, in respect of the property vested in it by section 5 of the repealed Act:

(a) taken to be appointed to act in the capacity of trustee instead of Burns Philp, and

(b) entitled and obliged to exercise and discharge all rights, powers, capacities, authorities, duties, liabilities and obligations of Burns Philp in the capacity of trustee to the exclusion of Burns Philp, and

(c) to discharge the liabilities and obligations of Burns Philp in the capacity of trustee to the exclusion of Burns Philp,

except as provided by sections 7, 8 and 9 of the repealed Act (as in force immediately before its repeal).

(2) In this clause,
"liabilities" includes the following:

(a) present and future liabilities,

(b) certain and contingent liabilities,

(c) ascertained liabilities and liabilities for which only damages may be awarded,

(d) all claims against Burns Philp and any officer of Burns Philp (in that capacity).

3 Appointment of Burns Philp taken to be appointment of Permanent Trustee Company Limited

(1) Any appointment or nomination of Burns Philp as trustee, executor or otherwise in the capacity of trustee is taken to be an appointment or nomination of Permanent Trustee Company Limited, except as provided by section 7 of the repealed Act (as in force immediately before its repeal).

(2) This clause applies to such an appointment or nomination:

(a) whether made (or purporting to be made) before, on or after 7 December 1990, and

(b) whether the appointment or nomination:

(i) is in effect on that date, or

(ii) takes effect after that date, or

(iii) has taken effect previously but some further act or thing is necessary to perfect the appointment to or undertaking of the office.

4 Evidence of transfer of property

(1) The production of a copy of the repealed Act (as in force immediately before its repeal) is, in any legal proceedings, conclusive evidence of the vesting of property pursuant to that Act.

(2) A certificate under the seal of Permanent Trustee Company Limited to the effect that property specified in the certificate has been vested in it pursuant to the repealed Act is conclusive evidence of the matters certified for the following purposes:

(a) any application by Permanent Trustee Company Limited to be registered under the Real Property Act 1900 ,

(b) any application by Permanent Trustee Company Limited or a successor in title of Permanent Trustee Company Limited to bring land under the Real Property Act 1900 ,

(c) any transfer, conveyance, reconveyance, mortgage or other instrument or dealing whatever in respect of any interest in any land (whether or not under the Real Property Act 1900 ),

(d) any creation of an easement or other interest in respect of any land (whether or not under the Real Property Act 1900 ).

5 Joinder of Permanent Trustee Company Limited in legal proceedings

Permanent Trustee Company Limited may be joined as a party to any legal proceedings in addition to, or instead of, Burns Philp if:

(a) Permanent Trustee Company Limited or Burns Philp makes such an application, and

(b) it appears to the court to be necessary or proper having regard to the provisions of this Schedule.

6 Transferred provisions to which Interpretation Act 1987 applies

Clauses 2-5 re-enact (with minor modifications) sections 5 (3) and (4), 6, 10 and 13 of the Burns Philp Trustee Company Limited Act 1990 and are transferred provisions to which section 30A of the Interpretation Act 1987 applies.