Application by BT Funds Management Ltd [2017] NSWSC 45

Supreme Court New South Wales

Medium Neutral Citation: Application by BT Funds Management Ltd [2017] NSWSC 45 Hearing dates: 3 February 2017 Decision date: 03 February 2017 Jurisdiction: Equity Before: Stevenson J Decision: Advice given for the purpose of rules governing a superannuation fund that the trustee must treat a direction concerning the deceased's death benefit in favour of his widow as a request because the trustee had actual knowledge that the deceased and his widow were permanently separated; trustee not compelled to pay all or any part of the death benefit to the deceased's widow and may instead pay any remaining part of the death benefit to the deceased's dependants and/or legal personal representative Catchwords: TRUSTS AND TRUSTEES; JUDICIAL ADVICE – s 63 of the Trustee Act 1925 (NSW) – superannuation fund – conditional consent to non-lapsing direction revoked where trustee had actual knowledge that the deceased and his widow were permanently separated – trustee not compelled to pay death benefit to deceased's widow as provided in the direction – direction then treated as a request Legislation Cited: Succession Act 2006 (NSW) Superannuation Industry (Supervision) Act 1993 (Cth) Superannuation Industry (Supervision) Regulations 1994 (Cth) Trustee Act 1925 (NSW) Cases Cited: Chief Commissioner of Stamp Duties (NSW) v Buckle (1998) 192 CLR 226 Category: Principal judgment Parties: BT Funds Management Limited (Plaintiff) Representation: Counsel: D Barlin (Plaintiff)

Solicitors: Herbert Smith Freehills (Plaintiff) File Number(s): SC 2016/335099