Public Trustee Regulations 2010 (SA)

South Australia Public Trustee Regulations 2010 under the Public Trustee Act 1995

Contents 1 Short title 3 Interpretation 4 Commission and prescribed fees Schedule 1—Common fund—commission 1 Commission on capital 2 Commission on income Schedule 2—Commission Part 1—Commissions Division 1—Commission on capital Division 2—Commission on income Division 3—General Schedule 3—Transitional provision 2 Transitional provision Legislative history

1—Short title These regulations may be cited as the Public Trustee Regulations 2010. 3—Interpretation In these regulations— Act means the Public Trustee Act 1995. 4—Commission and prescribed fees (1) For the purposes of section 29(6a) of the Act, the rates or amounts of commission to be charged against an amount at credit in a common fund on account of a class of persons referred to in section 29(1)(b) of the Act are as set out in Schedule 1. (2) For the purposes of section 45 of the Act, the rates or amounts of commission to be charged against an estate under the control of the Public Trustee (otherwise than under section 45 of the Administration and Probate Act 19191) are as set out in Schedule 2. (3) If a maximum or minimum rate or amount is provided in Schedule 1 or Schedule 2, or in relation to prescribed fees, the Public Trustee may determine the rate or amount in a particular case, subject to that maximum or minimum. Note— 1 Section 45 of the Administration and Probate Act 1919 provides for the vesting of an intestate estate in the Public Trustee until administration is granted in respect of the estate.

Schedule 1—Common fund—commission 1—Commission on capital Commission— (a) in respect of estates administered by the Public Trustee, on money that is invested in a common fund on behalf of the beneficiaries of the estates that would otherwise be distributed to the beneficiaries; or (b) on money that is invested in a common fund on behalf of all other classes of persons referred to in section 29(1)(b) of the Act, must be charged at a rate not exceeding the maximum rate of 1% of the capital amount invested. 2—Commission on income Commission on income received in respect of money invested in a common fund on behalf of a class of persons referred to in section 29(1)(b) of the Act, must be charged at a rate not exceeding the maximum rate of 5%.