Comparison View

Formal Consolidation |  1985 RevEd
General powers and duties of Public Trustee
4.—(1)  Subject to and in accordance with this Act and the rules made thereunder, the Public Trustee may —
(a)act in the administration of estates of small value;
(b)act as an ordinary trustee;
(c)be appointed trustee by a court of competent jurisdiction.
(2)  Subject to and in accordance with this Act and the rules made thereunder, the Public Trustee may act either alone or jointly with any person or body of persons in any capacity to which he is appointed in pursuance of this Act, and shall have all the same powers, duties and liabilities, and be entitled to the same rights and immunities and be subject to the control and orders of the court, as a private trustee acting in the same capacity.
(3)  The Public Trustee may decline, either absolutely or except on the prescribed conditions, to accept any trust, but he shall not decline to accept any trust on the ground only of the small value of the trust property.
(4)  The Public Trustee shall not accept any trust which involves the management or carrying on of any business, except in the cases in which he is authorised to do so by rules made under this Act, nor any trust under a deed of arrangement for the benefit of creditors, nor the administration of any estate known or believed by him to be insolvent.
(5)  Subject to any conditions or restrictions imposed in writing by the Minister, an Assistant Public Trustee may exercise all or any of the powers and perform all or any of the duties of the Public Trustee under any written law except —
(a)the power or duty of accepting or declining to accept any trust;
(b)the power of transferring securities and of assuring immovable property:
Provided that an Assistant Public Trustee shall have power to transfer by endorsement cheques and other negotiable instruments to any banker or other duly authorised agent of the Public Trustee; and
(c)the power of making payments or advances out of trust funds:
Provided that the Public Trustee may in writing authorise an Assistant Public Trustee to make such payments or advances as he may direct.
Informal Consolidation | Amended Act 27 of 2012
General powers and duties of Public Trustee
4.—(1)  Subject to and in accordance with this Act and the rules made thereunder, the Public Trustee may —
(a)act in the administration of estates;
[Act 27 of 2012 wef 15/02/2013]
(b)act as an ordinary trustee;
(c)be appointed trustee by a court of competent jurisdiction.
(1A)  In addition to the powers and duties under subsection (1), the Public Trustee may —
(a)undertake such functions and duties relating to victims of motor accidents and their claims to compensation as the Minister may assign him;
(b)be appointed as a deputy by the High Court under the Mental Capacity Act 2008 with powers and duties conferred or imposed under that Act in relation to the property and affairs of a person who lacks capacity;
[22/2008 wef 01/03/2010]
[Act 27 of 2012 wef 15/02/2013]
(c)undertake such role, functions and duties as set out in the Deposit Insurance and Policy Owners’ Protection Schemes Act 2011; and
[15/2011 wef 01/05/2011]
[Act 27 of 2012 wef 15/02/2013]
(d)undertake such functions and duties relating to bona vacantia arising from the death of natural persons as the Minister may assign to him.
[Act 27 of 2012 wef 15/02/2013]
(2)  Subject to and in accordance with this Act and the rules made thereunder, the Public Trustee may act either alone or jointly with any person or body of persons in any capacity to which he is appointed in pursuance of this Act, and shall have all the same powers, duties and liabilities, and be entitled to the same rights and immunities and be subject to the control and orders of the court, as a private trustee acting in the same capacity.
(3)  The Public Trustee may decline, either absolutely or except on the prescribed conditions, to accept any trust, but he shall not decline to accept any trust on the ground only of the small value of the trust property.
(4)  The Public Trustee shall not accept any trust which involves the management or carrying on of any business, except in the cases in which he is authorised to do so by rules made under this Act, nor any trust under a deed of arrangement for the benefit of creditors, nor the administration of any estate known or believed by him to be insolvent.
(5)  Subject to any conditions or restrictions imposed in writing by the Minister, an Assistant Public Trustee may exercise all or any of the powers and perform all or any of the duties of the Public Trustee under any written law except —
(a)the power or duty of accepting or declining to accept any trust;
(b)the power of transferring securities and of assuring immovable property:
Provided that an Assistant Public Trustee shall have power to transfer by endorsement cheques and other negotiable instruments to any banker or other duly authorised agent of the Public Trustee; and
(c)the power of making payments or advances out of trust funds:
Provided that the Public Trustee may in writing authorise an Assistant Public Trustee to make such payments or advances as he may direct.