Contents (1925 - 14)
Trustee Act 1925 No 14
Status information

Long title

Part 1A Preliminary

1 Name of Act and commencement
2 (Repealed)
3 Repeals
4 Notes

Part 1 Interpretation

5 Definitions

Part 2 Trustees

Division 1 Appointment, retirement, disclaimer, and ceasing to be executor

6 New trustee
7 Additional trustee
8 Retirement
9 Vesting
10 Renunciation of probate
11 Ceasing to be executor
12 Registration
13 Protection of purchasers

Division 2 Powers and duties

14 Powers of investment
14A Duties of trustee in respect of power of investment
14B Law and equity preserved
14C Matters to which trustee is to have regard when exercising power of investment
14D Powers of trustee in relation to securities
14DA Power to purchase dwelling-house as residence for beneficiary
14DB Guidelines for trustees
14E Advisory committee
14F Investment in securities under Reserve Bank RITS system
15, 16 (Repealed)
17 Accepting a short title
18 Ratio of loan to value
19 Loss on mortgages
20 Release of part of the security
21 Arrangement with company
21A Building societies and credit unions—transfers of engagements and amalgamations
22 New shares in a company
23 Calls on shares
24 Accrued interest on debentures or stock sold or purchased
25 Continued holding
26 Powers incident to sale
27 Duration of trust or power to sell
27A (Repealed)
27B Postponement of sale
27C Purchaser under a trust for sale
28 Deferred payment on sale of land
29 Sale or purchase under Conveyancing Act 1919
30 Depreciatory conditions
31 Sale of part of land
32 Sale exchange and partition
32A Power to purchase equity of redemption in lieu of foreclosure
33 Sale after right of redemption barred
34 Release of equity of redemption in discharge of mortgage debt
35 Surrender of onerous lease
36 Leasing
37 Renewal of renewable leasehold
38 Raising money
39 Protection of purchasers or mortgagees
39A Application of income by trustee-mortgagee in possession
39B Validation of certain payments by trustee-mortgagee in possession
40 Powers
41 Insurance
42 Application of insurance money
43 Maintenance and accumulation—instruments that came into operation on or after 1 March 1926
43A Maintenance and accumulation—instruments that came into operation before 1 March 1926
44 Advancement
45 Protective trusts
45A Equitable life tenant—conditions on entry into possession
46 Appropriation
47 Payment to the NSW Trustee or a trustee company
48 Receipts
49 Compounding
50 Deposit for safe custody
51 Audit
52 Valuation
53 Employment of agents
54 Banks, building societies and credit unions
54A Banker may recognise certain signatures and endorsements
55 Foreign property
56 Undivided interests
57 Two or more trustees
58 Powers of attorney
59 Implied indemnity
60 Distribution after notice
61 Distribution where estate comprises leaseholds, and in certain other cases
61A Personal liability of legal representative or trustee
62 Notice
63 Advice

Division 3 Delegation

64 Execution of trust
65 Consent to exercise of trust or power
66 Persons dealing with delegate
67 Power of attorney
68 Registration

Division 4 Statute of limitations

69 (Repealed)

Part 3 Powers of the Court

Division 1 New trustees and vesting orders

70 New trustees
71 Vesting orders
72 Contingent rights of unborn persons
73 (Repealed)
74 Minor or insane mortgagee
75 Deceased mortgagee
76 Sale or mortgage of land
77 Specific performance, and other matters
78 Effect of vesting order
79 Appointment of person to convey
80 Trustees of charities

Division 2 Dealings and improvements

81 Advantageous dealings
82 Improvements and repairs
82A Improvement and repairs without the approval of the Court
83 (Repealed)
84 Sale of minor’s property

Division 3 Relief and indemnity

85 Excusable breaches of trust
86 Indemnity for breach of trust

Division 4 Miscellaneous powers

87 Division of chattels
88 Order in absence of a trustee
89 Proceedings under Mental Health Act 1958
90 Court may take into account investment strategy in action for breach of trust
90A Power of Court to set off gains and losses arising from investment

Division 5 Applications and orders

91 Defendants
92 Persons entitled to apply
93 Costs
94 (Repealed)

Part 4 Payment into Court

95 Trustees
96 Person liable to minor or person of unsound mind
97 Life assurance companies
98 Money or securities
99 Trustee

Part 5 Miscellaneous provisions

100 Escheat
101 Property vested in the NSW Trustee
102 Account by fiduciary
103 Indemnity
104 Rules of Court
104A Regulations
105, 106 (Repealed)
107 Savings and transitional provisions

 Schedule 1 Repeals

 Schedule 2 Savings and transitional provisions

Historical notes