Public Trustee Regulations 1979

These Regulations may be cited as the Public Trustee Regulations 1979.

The estate of a deceased person is to be administered in accordance with these Regulations as in force at the date of the death of the person.

For the purposes of section 24A(2) of the Act, the prescribed percentage of the value of a common fund is 2% per annum.

For the purposes of section 28(2) of the Act, the prescribed percentage of the value of a common fund is 1.1% per annum.

For the purposes of section 97(7) of the Act:

the capital in the common fund known as "Common Fund 1" is guaranteed; and

the following rates of return for money held as cash in the common fund known as "Common Fund 1" are guaranteed:

for trusts - 1% per annum less than the Reserve Bank of Australia cash rate;

for estates - 3% per annum less than the Reserve Bank of Australia cash rate.

Subject to the directions of the Minister, the Public Trustee may, having regard to:

the circumstances of the person or estate liable to pay commission or a fee; or

the amount of work done by the Public Trustee, accept, in full satisfaction of that person's or estate's liability under the Act to pay commission or a fee, such proportion of the commission or fee payable as the Public Trustee thinks fit or waive the commission or fee payable.