Treatment of trusts
58GC Treatment of trusts
The SPF provisions apply to a trust as if it were a person, but with the changes set out in this section.
Trusts with a single trustee
If the trust has a single trustee:
an obligation that would otherwise be imposed on the trust by an SPF provision is imposed on the trustee instead; and
if an SPF provision would otherwise permit something to be done by the trust, the thing may be done by the trustee.
Trusts with multiple trustees
If the trust has 2 or more trustees:
an obligation that would otherwise be imposed on the trust by an SPF provision is imposed on each trustee instead, but may be discharged by any of the trustees; and
if an SPF provision would otherwise permit something to be done by the trust, the thing may be done by any of the trustees.
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