Trustees and Executors Acts Amendment Act of 1961 (10 Eliz ll No. 46) (Qld)

190 ANNO DECIMO ELIZABETHAE SECUNDAE REGINAE ••••••••••••••••••••••••••••••••••••••••••••••••••• No. 46 An Act to Amend the Enactments relating to Trustees and Executors, and for other purposes [ASSENTED TO 14TH DECEMBER, 1961] 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:- Short title I. (1) This Act may be cited as "The Trustees and ~~struction Executors Acts Amendment Act of 1961," and shall be of this Act read as one with " The Trustees and E.'-'ecutors Acts, 1897 to 1906," "The Trustees and Executors Act Amendment Act of 1915," and "The Trustees and Executors Acts Amendment Act of 1924." Ctitolellective cited( 2a) s" Th T i h s e T A r c u t ste a e n s d an th d o E s x e ec A u c to ts rs m Ac a t y s, b1e89c7o t l o lec1t9iv6e1l.y"

1961 Trustees and Executors, Etc., Act 191 2. Section four of "The Trustees and Executors Amendments Act of 1897" is amended by- of s. 4 of 61 Vic. (a) inserting before the opening words of that No. 10 section (namely the words " A trustee ") the words " In addition to any investment of trust funds authorised by any other Act," ; and (b) omitting paragraph (i) and inserting in its stead the following paragraph :- " (i) (A) On any interest bearing term deposit in any Bank; or (B) On deposit in any Savings Bank, authorised under Part II of the Commonwealth Banking Act 1959 (including any Commonwealth enactment in substitution or amendment thereof) to carry on banking business in Australia or established by any Commonwealth Act, and, in each case, carrying on business in Queensland for the time being." 3. "The Trustees and Executors Act of 1897" is News. 59 of amended by adding thereto the following section :- ~/it· " [59.] (].) The rule of law known as the rule Non~ . agam . st perpetm . ti . es s h a 11 not app 1 y to t h e trusts o fa o pp f h ru c l a e t10n any superannuation fund in operation at or established ;~:~~~~iities on or after the first day of July, one thousand nine to sup1::r- . annuat10n hundred and sixty-two. schemes. (Cf. No. 6401 (2.) In this section, " superannuation fund " includes (1r ~:\~~> any fund or scheme established for the purpose of~1 6 w making provision by way of assistance, benefits, s.'346). superannuation, allowances, gratuities or pensions for the directors, officers, servants or employees of any employer or the widows or children or dependants of any such directors, officers, servants or employees or for any persons duly selected or nominated for that purpose by any such directors, officers, servants or employees pursuant to the provisions of such fund or scheme.

192 Trustees and Executors, Etc., Act 10 ELIZ. IL No. 46, (3.) This section shall not enable any person to recover any money distributed or paid prior to the first <lay of July, one thousand nine hundred and sixty-two, under any trust if he could not have recovered such money if this section had not been enacted."