Trusts (Investments) Amendment Bill 1999 (Qld)

Queensland

TRUSTS (INVESTMENTS) AMENDMENT BILL 1999

Queensland

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TRUSTS INVESTMENTS) AMENDMENT BILL 1999

TABLE OF PROVISIONS

Section Page PART 1—PRELIMINARY 1 Short title 2.0... eee eee 4 2 Commencement ......... 0.00. eee eee 4 PART 2—AMENDMENT OF TRUSTS ACT 1973 3 Act amended in pt2 ©1122... ccc cece eee cette teens 4 4 Amendment of s 5 (Definitions) .............0...000..00 0000002200 4 5 Replacement of pt 3 (Investments) ............. 000 eee eee eens 5 PART 3—INVESTMENTS 20 Application of particular provisions. ...................00200. 5 21 Power of trustee to invest ......... 0.0.0... eee eee 5 22 Duties of trustee in relation to power of investment ............. 5 23 Law and equity preserved.................000 0.000 e cee eee 6 24 Matters to which trustee must have regard in exercising power of investment... 6.0.6.6... 0. c eee eens 6 25 Powers of trustee in relation to securities ..................0.. 7 26 Investment in securities under RITS ..............0......000.. 9 27 Power of trustee as to calls on shares ..............0.....0004. 9 28 Power to purchase dwelling house as residence for beneficiary ... 9 29 Power of trustee to retain investments ................0..0000. 10 30 Loans and investments by trustees not breaches of trust in particular circumstances ...... 0.0... cece eee eee eee 10

30A Limitation of liability of trustee for loss on improper investments ©... 0.6... cece eee eee eee 11 Trusts (Investments) Amendment

30B Court may take into account investment strategy etc. in action for breach of trust... 2.0... 6.6.0 c cece eee eee eee

30C Power of court to set off gains and losses arising from investment ...... cece eee eee eee eee

Insertion of new pt 10 ©... 2... eee teens PART 10—TRANSITIONAL PROVISION

115 Transitional provision for Trusts (Investments) Amendment Act 1999 1.0.0... eee