Exemptions in respect of money subject to a trust

Current

(1)

A person who holds money subject to a trust may —

(a)

apply to the Treasurer for a certificate; or

(b)

if the application to the Treasurer is refused, apply to a Master of the Supreme Court for an Order,

exempting that person from the requirements of this Act in respect of that money.

(2)

A certificate or Order under subsection (1) —

(a)

may be granted —

(i)

conditionally; or

(ii)

unconditionally;

and

(b)

shall be given effect.

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