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Table Of Contents

Contents (1898 - 34)

1. Short title

2. Commencement

3. Repealed

4. Interpretation

Part II - Investments

5. Application of Part

6. Power of trustee to invest

7. Duty of trustee

8. Matters to which trustee may have regard

9. Law and equity preserved

10. Powers of trustee in relation to securities

11. Calls on shares

12. Purchase of house for beneficiary

12A. Power of trustee to retain investments

12B. Loans and investments by trustees

12C. Liability of trustee for loss on improper investments

12D. Court may take into account investment strategy

12E. Set-off for gains and losses

12F. Transitional provision

Part III - Various Powers and Duties of Trustees

13. Power of appointing new trustees

14. Retirement of trustee

15. Vesting of trust property in new or continuing trustees

16. Power of trustee for sale to sell by auction

17. Power to sell subject to depreciatory conditions

18. Power to sell under section 37 of the Conveyancing and Law of Property Act 1884

19. Repealed

20. Power to authorize receipt of money by banker or solicitor

21. Power to insure building or other property

22. Power of trustees of renewable leaseholds to renew and to raise money for the purpose

23. Power of trustee to give receipts

24. Power of executors and trustees to compound, &c.

25. Powers of two or more trustees exercisable by survivor

25AA. Power to delegate trusts

25A. Distribution of property or estate after notice by trustee or executor or administrator

26. Exoneration of trustees in respect of certain powers of attorney

27. Implied indemnity of trustees

28. Right of beneficiary to apply to trustee for accounts

29. Power of trustees to make advances to beneficiaries

30. Protective trusts

Part IV - Trustee Companies

31. Power of trustee companies to act for two or more trustees

Part V - Powers of the Court

32. Power of Court to appoint new trustees

33. Vesting orders as to property

34. Vesting orders as to stock and choses in action

35. Orders as to contingent rights of unborn persons

36. Vesting order in place of conveyance by certain persons under disability

37. Vesting order in place of conveyance by representative of mortgagee

38. Vesting order consequential on judgment for sale or mortgage

39. Vesting order consequential on judgment for specific performance

40. Effect of vesting order

41. Power to appoint person to convey

42. Persons entitled to apply for orders

43. Powers of new trustee appointed by Court

44. Power to charge costs on trust estate

45. Trustees of charities

46. Orders made upon certain allegations to be conclusive evidence

47. Power of Court to make orders in certain cases not provided for by trust instruments, &c.

48. Payment into Court by trustees

49. Payment into Court of money of certain persons under disability

50. Jurisdiction of Court in cases of breach of trust

51. Power to give judgment in absence of trustee

52. Power to sanction sale of land or minerals separately

53. Power to make beneficiary indemnify for breach of trust

Part VI - Miscellaneous and Supplemental

54. Provisions as to appointments of trustees apply to trustees under the Settled Land Act 1884

55. Power of trustees, with sanction of Court, to raise by mortgage moneys for preservation of estate or like purposes

56. Repealed

56A. Repealed

57. Decrees, &c., to bind land under the Real Property Act 1862

58. Remuneration of trustee

59. Trust estates not affected by trustee becoming a convict

60. Repealed

61. Decree for sale

62. Power of judges to make rules under this Act

63. Costs in discretion of Court

64. Application of Act

65. Act to operate as indemnity

Schedule I

Schedule II - Notice For Claims

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Trustee Act 1898

Version current from 16 April 2003 to 31 December 2003 (accessed 6 April 2025 at 15:08)

Status Information

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Version current from 16 April 2003 to 31 December 2003 (accessed 6 April 2025 at 15:08)

Legislation on this site is usually updated within 3 working days after a change to the legislation.

Table of Amending Instruments

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Authorisation

File last modified 18 July 2024

Tasmanian Legislation Tasmania's consolidated legislation online

Trustee Act 1898

Status Information

Currency of version

Table of Amending Instruments

Responsible Minister and Department

Authorisation

Tasmanian Legislation
Tasmania's consolidated legislation online