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This is a Bill, not an Act. For current law, see the Acts databases.


TRUSTEE LEGISLATION (MISCELLANEOUS AMENDMENTS) BILL 6 OF 2006

                                        TASMANIA

                                         __________


                   TRUSTEE LEGISLATION (MISCELLANEOUS
                          AMENDMENTS) BILL 2006
                                         __________

                                        CONTENTS
        PART 1 - PRELIMINARY
             1.      Short title
             2.      Commencement

        PART 2 - PUBLIC TRUSTEE ACT 1930 AMENDED
             3.      Principal Act
             4.      Section 3 amended (Interpretation)
             5.      Section 20 amended (Administration of small estates without
                     grant of probate or administration)
             6.      Section 20A amended (Administration of small estates)
             7.      Section 32 amended (Express powers of Public Trustee)
             8.      Section 34 amended (Power of Public Trustee to apply income
                     and capital for maintenance, &c., of infant)
             9.      Section 56 amended (Allowance by Public Trustee of claims,
                     &c., against estates)
             10.     Section 63 amended (Payment of small sums without probate or
                     letters of administration)
             11.     Section 72 amended (Remedy against Public Trustee)
             12.     Section 74 amended (Power of Public Trustee to submit certain
                     matters for opinion or direction of judge)



[Bill 6]-I

 


 

PART 3 - TRUSTEE ACT 1898 AMENDED 13. Principal Act 14. Section 25A amended (Distribution of property or estate after notice by trustee or executor or administrator) 15. Schedule II repealed PART 4 - TRUSTEE COMPANIES ACT 1953 AMENDED 16. Principal Act 17. Section 10A amended (Election to administer small estates without grant of probate, &c.) 18. Section 18 amended (Commission chargeable by trustee company) 2

 


 

TRUSTEE LEGISLATION (MISCELLANEOUS AMENDMENTS) BILL 2006 (Brought in by the Minister for Justice and Workplace Relations, the Honourable Steven Kons) A BILL FOR An Act to amend the Public Trustee Act 1930, the Trustee Act 1898 and the Trustee Companies Act 1953 Be it enacted by His Excellency the Governor of Tasmania, by and with the advice and consent of the Legislative Council and House of Assembly, in Parliament assembled, as follows: PART 1 - PRELIMINARY 1. Short title This Act may be cited as the Trustee Legislation (Miscellaneous Amendments) Act 2006. 2. Commencement This Act commences on a day to be proclaimed. [Bill 6] 3

 


 

Trustee Legislation (Miscellaneous Amendments) Act 2006 Act No. of s. 3 Part 2 - Public Trustee Act 1930 Amended PART 2 - PUBLIC TRUSTEE ACT 1930 AMENDED 3. Principal Act In this Part, the Public Trustee Act 1930* is referred to as the Principal Act. 4. Section 3 amended (Interpretation) Section 3(1) of the Principal Act is amended as follows: (a) by omitting "person." from the definition of "spouse" and substituting "person;"; (b) by inserting the following definition after the definition of "spouse": "trust instrument" includes an order of a court that gives rise to a trust. 5. Section 20 amended (Administration of small estates without grant of probate or administration) Section 20 of the Principal Act is amended as follows: (a) by omitting from subsection (1) "$20 000" and substituting "the prescribed amount"; *No. 61 of 1930 4

 


 

Trustee Legislation (Miscellaneous Amendments) Act 2006 Act No. of Part 2 - Public Trustee Act 1930 Amended s. 6 (b) by omitting from subsection (4)(a) "the sum of $21 000" and substituting "the prescribed amount". 6. Section 20A amended (Administration of small estates) Section 20A of the Principal Act is amended as follows: (a) by omitting from subsection (1) "$2 000" and substituting "the prescribed amount"; (b) by omitting from subsection (5) "$2 000" and substituting "the prescribed amount". 7. Section 32 amended (Express powers of Public Trustee) Section 32 of the Principal Act is amended as follows: (a) by omitting from subsection (1)(y) "$5 000" and substituting "the prescribed amount"; (b) by omitting from subsection (1)(z) "Commissioner of Taxes" and substituting "Commissioner of State Revenue"; (c) by omitting subsection (2); (d) by omitting subsection (4). 5

 


 

Trustee Legislation (Miscellaneous Amendments) Act 2006 Act No. of s. 8 Part 2 - Public Trustee Act 1930 Amended 8. Section 34 amended (Power of Public Trustee to apply income and capital for maintenance, &c., of infant) Section 34(1)(b) of the Principal Act is amended by omitting "the sum of $2 000" and substituting "the prescribed amount". 9. Section 56 amended (Allowance by Public Trustee of claims, &c., against estates) Section 56(c) of the Principal Act is amended by omitting "$5 000" and substituting "the prescribed amount". 10. Section 63 amended (Payment of small sums without probate or letters of administration) Section 63(1) of the Principal Act is amended by omitting "$2 000" and substituting "the prescribed amount". 11. Section 72 amended (Remedy against Public Trustee) Section 72 of the Principal Act is amended as follows: (a) by omitting "him" and substituting "the Public Trustee"; (b) by omitting "his" and substituting "its". 6

 


 

Trustee Legislation (Miscellaneous Amendments) Act 2006 Act No. of Part 2 - Public Trustee Act 1930 Amended s. 12 12. Section 74 amended (Power of Public Trustee to submit certain matters for opinion or direction of judge) Section 74(1) of the Principal Act is amended by omitting "$10 000" and substituting "the prescribed amount". 7

 


 

Trustee Legislation (Miscellaneous Amendments) Act 2006 Act No. of s. 13 Part 3 - Trustee Act 1898 Amended PART 3 - TRUSTEE ACT 1898 AMENDED 13. Principal Act In this Part, the Trustee Act 1898* is referred to as the Principal Act. 14. Section 25A amended (Distribution of property or estate after notice by trustee or executor or administrator) Section 25A of the Principal Act is amended by omitting subsection (2) and substituting the following subsection: (2) Subject to subsection (3), the notice required to be given by a trustee or an executor or administrator of a deceased person for the purposes of subsection (1) is to be published - (a) in the Gazette; and (b) in at least one newspaper published or circulating in the locality in which the deceased person resided or carried on business immediately before his or her death. *No. 34 of 1898 8

 


 

Trustee Legislation (Miscellaneous Amendments) Act 2006 Act No. of Part 3 - Trustee Act 1898 Amended s. 15 15. Schedule II repealed Schedule II to the Principal Act is repealed. 9

 


 

Trustee Legislation (Miscellaneous Amendments) Act 2006 Act No. of s. 16 Part 4 - Trustee Companies Act 1953 Amended PART 4 - TRUSTEE COMPANIES ACT 1953 AMENDED 16. Principal Act In this Part, the Trustee Companies Act 1953* is referred to as the Principal Act. 17. Section 10A amended (Election to administer small estates without grant of probate, &c.) Section 10A of the Principal Act is amended as follows: (a) by omitting from subsection (1)(c) "$20 000" and substituting "the prescribed amount"; (b) by omitting from subsection (6)(a) "$22 000" and substituting "the prescribed amount". 18. Section 18 amended (Commission chargeable by trustee company) Section 18(4A) of the Principal Act is amended as follows: (a) by omitting "$100 or such other amount as may be prescribed" and substituting "the prescribed amount"; *No. 72 of 1953 10

 


 

Trustee Legislation (Miscellaneous Amendments) Act 2006 Act No. of Part 4 - Trustee Companies Act 1953 Amended s. 18 (b) by omitting "sum" and substituting "amount". Government Printer, Tasmania 11

 


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