Public Trustee Act 1930

Where any property is held by the Public Trustee in trust for an infant, the Public Trustee in his discretion may apply – the whole or any part of the income of the share to which such infant is entitled in possession; and any part of the capital of the share to which the infant is entitled in possession or remainder immediately expectant on a prior life-interest, not exceeding in the whole one-half of such capital or the prescribed amount whichever is the greater, but no such application of a share in remainder shall be made without the previous consent in writing of the person on whose death such prior interest is determinable– for the maintenance, education, and advancement or otherwise for the benefit of such infant, during minority.

The provisions of subsection (1) hereof shall not apply to a case where provision is expressly made by the trust instrument – for the maintenance, education, advancement, or otherwise for the benefit of an infant; or prohibiting such application.

Where any property is held by the Public Trustee in trust for an infant, either for life or for any greater interest, contingently upon the infant attaining a specified age, or on the occurrence of any event before attaining that age, the Public Trustee, in his discretion, may apply for or towards the infant's maintenance, education, advancement, or benefit, the income of such property, or any part thereof, whether or not there is any fund available for such purpose, or any person bound by law to provide for the infant's maintenance or education.

The Public Trustee shall accumulate all the residue of the income mentioned in subsection (3) hereof, together with compound interest thereon, by investing the same and the resulting income thereof, and shall hold such accumulations for the benefit of the persons who ultimately become entitled to the property from which the same arise; but the Public Trustee, at any time, in his discretion, may apply such accumulations or any part thereof as if the same were income arising in the then current year.

Where trust property is made payable to a class of persons who, on respectively reaching a specified age, or on the happening of a specified event, would become entitled in possession to a share of such property and who respectively might become entitled, by survivorship or otherwise, to the shares of the other members of the class, then the Public Trustee, with the consent of the persons having prior estates or interests in the property and of any members of the class who have become entitled as aforesaid, may apply the presumptive or contingent share of any infant belonging to such class for the maintenance, education, or benefit of such infant.

The power conferred by subsection (5) hereof may be exercised, although future members of the class may come into existence subsequently, and whether the property consists of capital or income, and whether or not the income is directed to be accumulated.

The Public Trustee may decline to exercise such power as last aforesaid without an order of the Court for that purpose, which order the Court, on his application, is hereby empowered to make.

Instead of himself applying income or capital under this section, the Public Trustee may pay the same to any person to be so applied without seeing to the application or being answerable for the misapplication or non-application thereof.