Trustee Companies Act of 1961 (10 Eliz ll No. 48) (Qld)

196 ANNO DECIMO ELIZABETHAE SECUNDAE REGINAE te,••*•••••••••••••••-••••••••••••~t••••••••••......,.... No. 48 An Act to Amend "The Queensland Trustees, Limited, Acts, 1888 to 1959," and "The Union Trustee Company of Australia, Limited, Acts, 1890 to 1959," each in certain particulars [ASSENTED TO 14TH DECEMBER, 1961] Short title B E it enacted by the Queen's :Most Excellent Majesty, by and with the advice and consent of the Legislative Assembly of Queensland in Parliament assembled, and by the authority of the same, as follows:-- PART !.--PRELIMINARY. 1. This Act may be cited as " The Trustee Companies Act of 1961." Parts or Act 2. This Act is divided into Parts as follows :- p ART !.-PRELIMINARY ; PART IL-AMENDMENTS OF "THE QUEENSLAND TRUSTEES, LIMITED, ACTS, 1888 TO 1959 "; PART UL-AMENDMENTS OF " THE UNION TRUSTEE COMPANY OF AUSTRALIA, LIMITED, ACTS, 1890 TO 1959."

1961 Trustee Companies Act 197 PART IJ.-AMENDMENTS OF "THE QUEENSLAND TRUSTEES, LIMITED, ACTS, 1888 TO 1959." 3. (1) This Part II. of this Act shall be read as one Construction with "The Queensland Trustees, Limited, Acts, 1888 of Part II. to 1959." (2) " The Queensland Trustees, Limited, Acts, 1888 Collective to 1959," and this Part II. of this Act may be collectively title cited as " The Queensland Trustees, Limited, Acts, 1888 to 1961." (3) Where an enactment of" The Queensland Trustees Interpreta- Limited Act, 1888," or of "The Queensland Trustees, tiol). Limited, Act, 1892," has been amended prior to the passing of this Act a reference to that enactment in this Part II. of this Act shall be read as referring to it as so amended. 4. "The Queensland Trustees Limited Act, 1888," is Amendment amended by omitting from the Pre8.mble the words of Preamble " sought in its incorporation " and inserting in their stead the words " from time to time set out in its memorandum of association ". 5. Section three of "The Queensland Trustees Amendment L;mited Act, 1888," is amended by adding at the end ofs. 3 thereof the following paragraph :- " Where pursuant to this section a private person joins with the Company in an application for letters of administration with the will annexed and a grant of administration with the will annexed is made to the Company and that private person jointly on such application, then notwithstanding any law to the contrary where the private person is appointed in the will as the trustee of lands of the testator in Queensland subject to the trusts of the will, the grant shall in the case of lands under "The Real Property Acts, 1861 to 1960," upon application in that behalf by the Company and the private person entitle the Company where transmission of the land is entered up to the private person as devisee in trust also to have transmission of the land entered up to it as a trustee under the will and upon such transmission being entered up to the Company and the private person, the Company and the private person shall have the same powers and authority to deal with the land as though the same had been devised to them as the trustees thereof subject to the trusts of the will."

198 Trustee Companies Act 10 ELIZ. II. No. 48, Amendment 6. Section sixteen of " The Queensland Trustees of s. 16 Limited Act, 1888," is amended by adding to the first proviso at the end thereof the words " save in the case of income received in respect of any perpetual trust committed to the Company (whether before or after the commencement of " The Trustee Companies Act of 1961 "), in which case the scale of charges published from time to time by the Company as being applicable to income of trust estates shall be applicable to the income received in respect of the trust while such published scale of charges is current ". Amendment of s. 27 7. Section twenty-seven of " The Queensland Trustees Limited Act, 1888," is amended by omitting the words " during the months of January and July in every year during which the Company carried on business 9' and inserting in their stead the words " within a period of fourteen days after the annual general meeting of the Company in every year ". Amendment 8. Section thirteen of " The Queensland Trustees, of s. 13 Limited, Act, 1892," is amended by inserting in paragraph (a), after the words " due at his death ", the words " or the funeral expenses of the testator or the expenses of administration ". PART Ill.-AMENDMENTS OF "THE UNION TRUSTEE COMPANY OF AUSTRALIA, LIMITED, ACTS, 1890 TO 1959." CofoPnsatrrtuIcItIi.on with 9 " . T ( h 1 e ) U T n h i i o s n P T a r r u t s I t I e I e . o C f o t m h p is an A y ct o s f h A a u ll st b r e al r ia e , ad Li a m s it o e n d e , Acts, 1890 to 1959." Collective title (2) " The Union Trustee Company of Australia, Limited, Acts, 1890 to 1959," and this Part III. of this Act may be collectively cited as " The Union Trustee Company of Australia, Limited, Acts, 1890 to 1961." Interpreta- tion (3) Where an enactment of " The Union Trustee Company of Australia, Limited, Act," or of., The Union Trustee Company of Australia, Limited, Act Amendment Act of 1892," has been amended prior to the passing of this Act a reference to that enactment in this Part III. of this Act shall be read as referring to it as so amended.

1961 Trustee Companies Act 199 10. Section four of" The Union Trustee Company Arendment of Australia, Limited, Act," is amended by adding at the O s. 4 end thereof the following paragraph :- " Where pursuant to this section a private person joins with the Company in an application for letters of administration with the will annexed and a grant of administration with the will annexed is made to the Company and that private person jointly on such application, then notwithstanding any law to the contrary where the private person is appointed in the will as the trustee of lands of the testator in Queensland subject to the trusts of the will, the grant shall in the case of lands under "The Real Property Acts, 1861 to 1960," upon application in that behalf by the Company and the private person entitle the Company where transmission of the land is entered up to the private person as devisee in trust also to have transmission of the land entered up to it as a trustee under the will and upon such transmission being entered up to the Company and the private person, the Company and the private person shall have the same powers and authority to deal with the land as though the same had been devised to them as the trustees thereof subject to the trusts of the will." 11. Section nineteen of " The Union Trustee Amendment Company of Australia, Limited, Act," is amended by ors. 19 adding to the first proviso at the end thereof the words " save in the case of income received in respect of any perpetual trust committed to the Company (whether before or after the commencement of " The Trustee Companies Act of 1961 "), in which case the scale of charges published from time to time by the Company as being applicable to income of trust estates shall be applicable to the income received in respect of the trust while such published scale of charges is current". 12. Section thirty-one of " The Union Trustee Amendment Company of Australia, Limited~ Act," is amended by of s. 31 omitting the words "during the months of January and July in every year during which the Company carries on business " and inserting in their stead the words " within a period of fourteen days after the annual general meeting of the Company in every year ".

200 Trustee Companies Act 10 Euz. II. No. 48, Aofms.en 1 d 6 ment of Au 1 s 3 tr . al S ia e , ct L io im n i s t i e x d te , e A n c o t f" AmThenedUmneionnt TArcutstoeef 1 C 8 o 9 m 2 p ," an i y s amended by inserting in paragraph (a), after the words " due at his death ", the words " or the funeral expenses of the testator or the expenses of administration ".