Trusts Bill 2024 (Qld)

An Act to consolidate and amend the law relating to trusts, to repeal the Trusts Act 1973, and to amend this Act, the Aboriginal Land Act 1991, the Corrective Services Act 2006, the District Court of Queensland Act 1967, the Funeral Benefit Business Act 1982, the Public Trustee Act 1978, the River Improvement Trust Act 1940, the Succession Act 1981, the Torres Strait Islander Land Act 1991, the United Grand Lodge of Antient Free and Accepted Masons of Queensland Trustees Act 1942 and the legislation mentioned in schedule 2 for particular purposes The Parliament of Queensland enacts—

Part 1 Preliminary

Division 1 Introduction

1 Short title This Act may be cited as the Trusts Act 2024.

2 Commencement This Act commences on a day to be fixed by proclamation.

3 Application of Act (1) This Act applies in relation to a trust whether created before or after, or partly before and partly after, the commencement of this Act, except to the extent this Act or another Act provides otherwise. Note— For an example of an Act providing otherwise, see the Land Act 1994, section 90. (2) Also, this Act applies despite a contrary intention in any trust instrument, except to the extent this Act provides otherwise. (3) This Act does not prevent a settlor conferring on a trustee any powers additional to or greater than those conferred under this Act. (4) Any additional or greater power conferred on a trustee by a settlor has effect and is exercisable in the same way, and with the same consequences, as a power conferred under this Act. (5) Subsection (4) applies subject to an express contrary intention in the trust instrument. (6) The powers conferred on a trustee under this Act are in addition to the powers conferred on the trustee under any other Act. (7) In this section— trustee includes a person exercising the powers of a trustee under this Act.