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This Act may be cited as the Trustee Companies Act 1968.
s 2 om 13 December 1993 RA s 36
s 3 om 1992 No. 40s 163sch 1
In this Act—
administration with the will annexed includes administration with exemplification of probate or letters of administration with the will annexed or duplicate or copy probate of the will annexed.
books includes any register or other record of information and any accounts or accounting records, however compiled, recorded or stored, and also includes any document.
Court means the Supreme Court of Queensland.
estate includes all real and personal property of whatever nature or kind committed to the administration or management of a trustee company.
Judge means a Judge of the Supreme Court.
officer of the trustee company means the managing director, general manager, State manager, manager, acting manager, assistant manager or secretary of the trustee company and includes in relation to any purpose or purposes of this Act any other officer of the trustee company designated as such by the board of directors for that purpose or those purposes.
probate includes ancillary probate.
registrar means the chief executive of the department.
trustee company means a licensed trustee company under the Corporations Act, section 601RAA.
The powers conferred on trustee companies by this Act shall be in addition to and not in derogation of any powers conferred on trustee companies or on executors, administrators, trustees, receivers, committees, guardians, liquidators, official liquidators, guarantors or sureties or attorneys under any other Act or the Corporations Act.
s 4A ins 1989 No. 77s 5
om 2009 No. 49s 83
Whenever a trustee company is named expressly or by implication either alone or jointly with any other person as executor of the last will of any testator (whether the will was made before or after the commencement of this Act) the trustee company may act as executor and may apply to the Court for probate of the will of the testator.
The Court may grant probate to the trustee company on an application pursuant to subsection (1).
Where a grant of probate is made to a trustee company pursuant to this section, the trustee company may perform and discharge all the acts and duties of an executor as fully and effectually as a private individual may do when appointed executor.
In all cases in which a private individual may apply for and obtain—
probate of the will without reserving leave to any other person to apply for probate; or
letters of administration with the will annexed of the estate;
of a deceased person, that individual may—
join with a trustee company in an application for—
in a case where the individual may apply for and obtain probate—a joint grant of probate to himself or herself and letters of administration with the will annexed to the trustee company; or
a grant of letters of administration with the will annexed to himself or herself and the trustee company jointly; or
instead of himself or herself applying, authorise a trustee company to apply for and obtain letters of administration with the will annexed unless the testator by will has expressed the desire that the office of executor should not be delegated or that the trustee company should not act in the trusts of the will.
Where—
a person joins with a trustee company in an application pursuant to subsection (1); or
a trustee company makes an application that it has, pursuant to that subsection been authorised to make;
the Court may make a joint grant of probate and letters of administration with the will annexed or a grant of letters of administration with the will annexed, as the case may be, in accordance with the application.
This section applies to wills whether made before or after the commencement of this Act.
Any person entitled to obtain administration of the estate of any intestate may—
join with a trustee company in an application for the grant of letters of administration of the estate to himself or herself and the trustee company jointly; or
instead of himself or herself applying—authorise a trustee company to apply for and obtain letters of administration of the estate.
Where—
a person joins with a trustee company in an application pursuant to subsection (1); or
a trustee company makes an application that it has, pursuant to that subsection been authorised to make;
the Court may grant letters of administration of the estate in accordance with the application.
This section applies whether the intestate died before or after the commencement of this Act.
Nothing in sections 6 and 7 shall be taken to prejudice or affect the right of any person interested in the estate of any deceased person (other than a person who has joined with a trustee company in, or has authorised a trustee company to make, an application under those sections) to apply for and obtain letters of administration, with or without the will annexed or other appropriate grant.
Any person named expressly or by implication as executor who would be entitled to obtain probate of the will of any testator may, instead of himself or herself applying for probate join with a trustee company in an application for letters of administration with the will annexed to be granted to the trustee company.
Where a person joins with a trustee company in an application pursuant to subsection (1), the Court may grant administration with the will annexed to the trustee company unless the testator by will has expressed the desire that the office of executor should not be delegated or that the trustee company should not act in the trusts of the will.
An application for a grant of letters of administration with the will annexed pursuant to this section may be made in the first instance to the Registrar of the Supreme Court who—
shall have power to make the grant; or
may refer any question arising upon the application to a Judge; or
may require the application to be made to the Court.
A grant of letters of administration with the will annexed under this section may be made to a trustee company notwithstanding that a person named expressly or by implication in the will as executor (other than the person joining with the trustee company in the application for the grant) has applied for and has been granted probate.
Where a grant of probate has been made to a person and a grant of letters of administration with the will annexed has been made to a trustee company under this section, that person and the trustee company shall administer the estate jointly.
A grant of letters of administration with the will annexed to a trustee company under this section may reserve leave for any person named expressly or by implication in the will as executor (other than the person joining with the trustee company in the application for the grant) to come in and apply for probate at any time subsequent to the grant.
This section applies to wills whether made before or after the commencement of this Act.
A person beneficially interested under the will is entitled to be heard in opposition to a grant being made under this section to a trustee company, and the Court after considering any objection by such a person may—
make a grant to the trustee company; or
upon the same application, grant probate to the person joining with the trustee company in the application.
Where the administration of any estate, with or without the will annexed, is granted to a trustee company, pursuant to this Act, the trustee company may perform and discharge all acts and duties which belong to the office of administrator or administrator with the will annexed, as the case may be, as fully and effectually as a private individual may do when granted such letters of administration.