Powers of the State Trust Corporation of Victoria in relation to administration
35 Powers of the State Trust Corporation of Victoria in relation to administration
S. 35(1) amended by Nos 83/1987 s. 109(4)(a), 50/1993 s. 112(1)(d)(i), 50/1994 s. 118(1)(a).
Except as otherwise provided in section 34, any amount of money administered by the State Trust Corporation of Victoria under this Act may be invested, applied or otherwise dealt with in any manner that the State Trust Corporation of Victoria thinks fit for the benefit of the person entitled to that money.
S. 35(2) amended by Nos 83/1987 s. 109(4)(a), 50/1993 s. 112(1)(d)(i), 50/1994 s. 118(1)(a).
The State Trust Corporation of Victoria shall not in administering any amount of money under this Act be bound by any law relating to the administration of trust funds by trustees but shall act in good faith.
S. 35(3) repealed by No. 83/1987 s. 109(4)(b).
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S. 35(4) amended by Nos 83/1987 s. 109(4)(a)(c), 50/1993 s. 112(1)(d)(i), 50/1994 s. 118(1)(a).
If the amount of money administered by the State Trust Corporation of Victoria on behalf of any person becomes less than an amount of money determined by the State Trust Corporation of Victoria the amount shall be paid out to that person.
S. 35(5) amended by Nos 83/1987 s. 109(4)(d), 67/1992 s. 64(11)(d) (as amended by No. 50/1993 s. 111(2)(e)), 50/1993 s. 112(1)(d) (i)(e), repealed by No. 50/1994 s. 118(1)(b).
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S. 35(6) repealed by No. 83/1987 s. 109(4)(b).
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S. 36 substituted by No. 10191 s. 262.
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