Public Trustee Amendment Regulation (No. 1) 2005 (Qld)

Queensland Public Trustee Amendment Regulation (No. 1) 2005 Subordinate Legislation 2005 No. 173 made under the PublicTrusteeAct1978 Contents Page 1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 2 Commencement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Regulation amended . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 4 Amendment of s 4 (Interest payable on amounts in the common fund—Act, s 19(1)(c)) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 5 Amendment of sch 2 (Dictionary) . . . . . . . . . . . . . . . . . . . . . . . . . 2

s1 2 s5 Public Trustee Amendment Regulation (No. 1) 2005 No. 173, 2005 1 Short title This regulation may be cited as the Public Trustee Amendment Regulation (No. 1) 2005 . 2 Commencement This regulation commences on 1 August 2005. 3 Regulation amended This regulation amends the Public Trustee Regulation 2001. 4 Amendment of s 4 (Interest payable on amounts in the common fund—Act, s 19(1)(c)) Section 4(2)— omit, insert — ‘(2) However, the annual rate of interest payable under the Act, section 19(1)(c) in relation to the part of a class 1 amount, class 3 amount or class 4 amount that the public trustee considers is not required at call or to meet short term or unforeseen liabilities of an estate is 4.6%. ‘(3) For class 2 amounts, the annual rate of interest payable under the Act, section 19(1)(c) in relation to the part of the amount that the public trustee considers is not required at call or to meet short term or unforeseen liabilities of the estate is— (a) if the rate agreed under schedule 1, item 2(a) or the rate allowed by order of a court is more than 4.6%—the rate agreed or allowed; or (b) otherwise—4.6%. ‘(4) Interest payable to an estate at the annual rate mentioned in subsection (2) or (3) must be credited monthly to the estate. ‘(5) Interest payable under the Act, section 19(1)(c) is calculated on the daily balance of the amount held for the estate.’. 5 Amendment of sch 2 (Dictionary) Schedule 2, definition class 3 amount —

s5 3 s5 Public Trustee Amendment Regulation (No. 1) 2005 No. 173, 2005 omit, insert — ‘ class 3 amount means an amount received by the public trustee for an estate— (a) as manager of the estate under part 6 1 of the Act; or (b) as manager of the estate under part 7 2 of the Act; or (c) as administrator for a financial matter under the Guardianship and Administration Act 2000 .’. ENDNOTES 1 Made by the Governor in Council on 26 July 2005. 2 Notified in the gazette on 29 July 2005. 3 Laid before the Legislative Assembly on . . . 4 The administering agency is the Public Trust Office. © State of Queensland 2005 1 Part 6 (Management of estates of incapacitated persons) of the Act 2 Part 7 (Administration of property of prisoners) of the Act