Succession Act 1981

This section applies if the personal representative of a deceased person is carrying on a business under section 49B.

The personal representative may subscribe to a relevant fund in connection with the business if the personal representative considers it would, if the personal representative were acting for themself, be prudent to subscribe to the fund.

Subscriptions to the relevant fund must be paid from the business income of the deceased person’s estate.

This section does not affect any other authority the personal representative may have to subscribe to the relevant fund.

If the deceased person’s estate is being administered under the deceased person’s will, this section is subject to a contrary intention appearing in the will.

In this section—relevant fund, in connection with a business, means a fund that—

is created for objects or purposes in support of any business of a similar nature; and

is subscribed to by other persons engaged in a similar business.