Trustee Companies Act 1987 (WA)

Western Australia Trustee Companies Act 1987 Western Australia Trustee Companies Act 1987 Contents Part I — Preliminary 1. Short title 2 2. Commencement 2 3. Terms used 2 Part II — Powers and duties of trustee companies 5. Trustee company may act as executor and obtain probate 3 6. Person entitled to probate may authorise trustee company to obtain administration with will annexed 3 7. Person entitled to administration with will annexed may authorise trustee company to obtain administration with will annexed 4 8. Person entitled to administration on intestacy may authorise trustee company to obtain administration 4 9. Trustee company may act as administrator 5 10. Trustee company may elect to administer small estates without grant of probate or administration 5 11. Rights of interested persons not prejudiced by grant to trustee company 6 12. Trustee company may be appointed trustee, receiver etc. 7 13. Trustee company may act under power of attorney 7 14. Executor etc. may appoint trustee company to act instead 8 15. Executor etc. may appoint trustee company to discharge duties 8 16. Who may represent trustee company in court etc. 9 17. Trustee company may be removed from office etc. as executor etc. 10 27. Unclaimed estate property, how trustee company to deal with 10 Part III — Transfer of estate assets and liabilities Division 1 — Preliminary 28. Terms used in Corporations Act have the same meaning in this Part 12 Division 2 — Compulsory transfers 29. Compulsory transfer if trustee company's licence cancelled 12 30. Certificates evidencing operation of this Division 14 31. Registration or record of transfer 14 32. Exemption from State tax 14 Division 3 — Voluntary transfers 33. Voluntary transfers, regulations about 15 Division 4 — Relationship of Part with other laws 34. Relationship of Part with other laws 16 Part VII — Miscellaneous 38. Trust funds held by trustee company may be pooled for investment 18 41. Costs of applications made under this Act 18 43. False or misleading statements in documents 18 44. Criminal liability of trustee company officers 20 45. Regulations 20 Part VIII — Transitional provisions for the Trustee Companies (Commonwealth Regulation) Amendment Act 2011 46. Term used: amending Act 22 47. Transitional provisions 22 48. Regulations for transitional matters 23 Notes Compilation table 25 Defined terms Western Australia Trustee Companies Act 1987 An Act to provide for the powers, duties, privileges and restrictions of trustee companies, to repeal the Acts 2 relating to certain trustee companies and for connected purposes.