Corporations Act 2001

The following are traditional trustee company services:

performing estate management functions (see subsection (2));

preparing a will, a trust instrument, a power of attorney or an agency arrangement;

applying for probate of a will, applying for grant of letters of administration, or electing to administer a deceased estate;

establishing and operating common funds;

any other services prescribed by the regulations for the purpose of this paragraph.

The following are estate management functions (whether provided alone or jointly with another person or persons):

acting as a trustee of any kind, or otherwise administering or managing a trust;

acting as executor or administrator of a deceased estate;

acting as agent, attorney or nominee;

acting as receiver, controller or custodian of property;

otherwise acting as manager or administrator (including in the capacity as guardian) of the estate of an individual;

acting in any other capacity prescribed by the regulations for the purpose of this paragraph.

Subsections (1) and (2) do not apply to:

operating a registered scheme; or

providing a custodial or depository service; or

acting as trustee for debenture holders under Chapter 2L; or

acting as a receiver or other controller of property of a corporation under Part 5.2; or

acting as trustee of a superannuation fund, an approved deposit fund or a pooled superannuation trust; or

acting in any other capacity prescribed by the regulations for the purpose of this paragraph.