The Union Trustee Company of Australia, Limited, Act (NSW)

The Union Trustee Company of Australia, Limited, Act. 15

THE UNION TRUSTEE COMPANY OF AUSTRALIA, LIMITED, ACT.

An Act to confer powers upon the Union Trustee George v. Company of Australia, Limited. [Assented to, 11th December, 1914.]

\ THEREAS in this State it is often difficult to Preamble. procure proper persons to undertake the onerous and responsible duties of trustee, executor, or adminis- trator: And whereas the deaths, resignations, and absence from the State of executors, trustees, and others filling similar offices are often attended with great dis- advantage and loss to the estates with the administration of which they are entrusted : And whereas it is desirable for the purpose of obtaining regularity and security in the administration of trust estates that permanent cor- porations should be empowered to fill the oflices of trustee, executor, administrator, receiver, agent, and other like offices: And whereas a certain company styled "The Union Trustee Company of Australia, Limited " (hereinafter referred to as the said company), and formed and registered under the provisions of the Companies Acts in force in the State of Victoria, has been duly registered in the State of New South Wales under the provisions of the Companies (Amendment) Act, 1899, with a capital of two hundred and fifty thousand pounds, divisible into one hundred thousand shares of two pounds ten shillings each, for the purpose of undertaking the duties of such offices as aforesaid for a commission: And whereas the said company has from time to time been engaged and is now engaged in the administration of estates comprising asscts in this State and

16 The Union Trustee Company of Australia, Limited, Act.

George V. and in the State of Victoria and in other states: And whereas it is expedient that the necessary powers should be conferred upon the said company (hereinafter called the company), in order to enable it to act as executor, administrator, administrator with the will annexed, trustee, receiver, committee of the estates of persons of unsound mind, and as agents, and to perform and discharge all the duties of such offices and to receive remuneration therefor, and to confer upon the company all such privileges and powers as are necessary or expedient for the purposes aforesaid: Be it therefore enacted by the King's Most Excellent Majesty, by and with the advice and consent of the Legislative Council and Legislative Assembly of New South Wales in Parliament assembled, and by the authority of the same, as follows :—