Trustee (Amendment) Act 1984 (NSW)

TRUSTEE (AMENDMENT) ACT, 1984, No. 169

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Act No. 169, 1984.

An Act to amend section 14 (4) of the Trustee Act, 1925, to make further provision with respect to the securities in which trustees are authorised to invest under that Act. [Assented to, 14th December, 1984.]

Trustee (Amendment) 1984

BE it enacted by the Queen's Most Excellent Majesty, by and with the advice and consent of the Legislative Council and Legislative Assembly of New South Wales in Parliament assembled, and by the authority of the same, as follows:—

Short title.

1. This Act may be cited as the "Trustee (Amendment) Act, 1984".

Commencement.

(1)-Sections 1 and 2 shall commence on the date of assent to this Act. (2) Except as provided by subsection (1 ). this Act shall commence on the day on which Schedule 2 (12) (i) to the Credit Union (Amendment) Act, 1984, commences.

2.

Amendment of Act No. 14, 1925.

3. The Trustee Act. 1925. is amended in the manner set forth in

Schedule 1.

SCHEDULE I.

(Sec. 3.)

AMENDMENTS TO THE TRUSTEE ACT, 1925.

(1 ) Section 14 (4) —

Omit "A trustee", insert instead "Subject to subsection ( 4 B ) , a trustee".

(2) Section 14 (4) —

Omit "Where", insert instead " ( 4 A ) Where".

3   Act No. 169

Trustee (Amendment)	1984
SCHEDULE	I—continued.

AMENDMENTS TO THI- TRUSTEE ACT. 1925—continued.

(3 ) Section 14 (4) —

Omit "The provisions of paragraph (a) shall", insert instead " ( 4 B J

The provisions of subsection (4) (a) do".

(4) Section 14 (4) —

After "State", insert "or to the extent that any other Act declares that, in relation to the investment of funds in specified securities by a specified person or class of persons, those provisions do not apply".