Australian Pipeline Limited

(2006) 60 ACSR 625; [2006] NSWSC 1316

Supreme Court of NSW

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Interrogate

Catchwords

1. Trusts and Trustees
2. › Judicial advice
3. › Application by trustee for opinion, advice or direction
4. › Scope of s 63 Trustee Act 1925 (NSW)
5. › Whether jurisdiction extends to advising trustee on defending proceedings alleging past breach of trust
6. › Whether proceedings concern management or administration of trust property
7. › Trustee Act 1925 (NSW), s 63
1. Corporations
2. › Managed investment schemes
3. › Responsible entity as trustee
4. › Resort to equitable jurisdiction by way of application for judicial advice
5. › Corporations Act 2001 (Cth), Chapter 5C, s 601FC(2)

Quick Take

A trustee (including the responsible entity of a registered managed investment scheme) cannot obtain judicial advice under s 63 of the Trustee Act 1925 (NSW) on whether to defend proceedings alleging past breaches of trust, because such proceedings concern the trustee's personal liability rather than the management or administration of the trust estate. The s 63 jurisdiction is confined to questions about future conduct in the trustee's capacity as trustee.