Continuing application of Trust Accounts Act, s 33
766 Continuing application of Trust Accounts Act, s 33
Subsection (2) applies if, immediately before the commencement day, a trustee—
was subject to a requirement under the Trust Accounts Act, section 33(1), to lodge with the public trustee a return in relation to property mentioned in that section; and
has not complied with the requirement.
The Trust Accounts Act, section 33, as in force immediately before the commencement day continues to apply to the trustee in relation to the property.
Also, the Trust Accounts Act, section 33, as in force immediately before the commencement day continues to apply for the purposes of dealing with any property to which a return given to the public trustee under that section, whether before or after the commencement day, relates.
This Act’s bill:Explanatory memorandum
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