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s 41

Termination of management

In force
Part 6Unclaimed property

41 Termination of management

(1)

The Public Trustee ceases to be manager of a property under this

Part on the happening of any of the following events:

(a)

if the Court so orders on application made by the owner of the property or by the owner's agent or administrator or by any person having an interest in the property or in any part of it;

(b)

if the Public Trustee publishes notice in the Gazette that the

Public Trustee has ceased to be manager of the property under this

Part;

(c)

if the Public Trustee transfers or delivers the property to the owner or the owner's agent or administrator.

(2)

The termination of the Public Trustee's management of property under this Part does not affect a charge acquired by the Public Trustee under this Part or the validity of an act or thing done by the Public Trustee while manager of the property.

(3)

No order can be made by the Court under this section without the consent of the Public Trustee until the Public Trustee has been paid all amounts to which the Public Trustee is entitled under this Part as manager of the property together with all costs incurred by the Public Trustee in connection with the application for the order.

(4)

On the Public Trustee ceasing to be manager of property that remains in the Public Trustee's name or possession, the Public Trustee may transfer or deliver the property to the person entitled to it.

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