State Trustees (State Owned Company) Act 1994

State Trustees may act with an advisory trustee or advisory trustees in administering any trust estate as trustee as provided in this section.

An advisory trustee may be appointed by—

the trust instrument; or

any person having power to appoint new trustees; or

an agreement between State Trustees and any executor, administrator or trustee in which the executor, administrator or trustee agrees to give State Trustees a power of attorney; or

order of the Court on the application of a beneficiary or of any person on whose application the Court would have power to appoint a new trustee.

The following apply if State Trustees acts with any advisory trustee—

the trust property vests in State Trustees which has the sole management and administration of the estate and its trusts;

an advisory trustee is not liable for any act or thing done by State Trustees whether with or without the advice of the advisory trustee;

State Trustees may consult an advisory trustee on any matter relating to the estate or the trusts;

an advisory trustee may advise State Trustees on any matter relating to the estate or the trusts;

any matter in dispute between State Trustees and an advisory trustee may be submitted in a summary manner to the Court;

a person dealing with State Trustees is not to be concerned to inquire as to or be affected by notice of the concurrence or otherwise of any advisory trustee;

the power of appointing a new advisory trustee when exercisable by any continuing advisory trustee is to be exercised by him or her alone;

State Trustees has the same power to apply to the Court for the appointment of a new advisory trustee as any other person.