PUBLIC TRUSTEE.

Dominion, Volume 2, Issue 396, 4 January 1909, Page 5

PUBLIC TRUSTEE.

'' - \ ".' -'. .'»_.»; .' NEW BRITISH .OFFICE • CONTROLS ;i TWENTY MILLIONS. (NT TE[,EQttAI>II—PRESS ASSOCIATION—COPTBIOHT.) London, January 1. Twenty millions sterling, mostly under wills, was entrusted to the. control of the Publip Trustee during the first year of the existenoo of the ofQoe. . ' '.■"■■•'.'■ PQWERS OF ;■; The British :Ppl)lio 'Trustee Act/1306, is" based upon the' Report on Trusts Administration of 1895, and.upon the Public Trustee Act of flew Zealand. It was, realised at Home, as elsewhere, that in all ranks and conditions of life it is difficult to get private persons to undertake, the troublesome and unsatisfactory duties of trustees, a.iid among the poorer classes it Is almost hopeless to get people to administer their properties. -The • Act establishes-tlie office of Public Trustee, who .shall;,be-»'• corporation eole, with, pqrpetual,,succession, :and with an official, seal, capableof suing- arid beiiig sued. -The .Public Trustee' mtfy;," if Tie'think fit (n);aot- in !the .administration? pof> estates' of Email.: value; .(b) as: custodian, trustee; (o) ; as an ordinary trustee;.(d).be apppinted a jydioial .trustee,-" or (e) the administrator of the property qf a convict, under, the Forfeiture Act, 1870. Ho may act alone qi; others,' and 6hall have the samo.j.powers.'^dutiesi>lia-. bilitiesi rights, and immunities* : as, a private" trustee aoting , in -Hoi'may'. deoline to accept any -trust,--'but. not on the ground only of the email value,.ot-the..-trust, property. He is not to accept any. trust wliioh involves the .management ,or 'oavrying'otf'of business, unless authorieed.vto dp,so. by. special rules under tho Act, rior the .administrationof an insolvent.'estnte.o'.nor'i.any.trust.'.'•exolu-j' sively for. religious or charitable purposes,, The, liabilities of the Public Trustee are:'to be. a. charge on 'the Consolidated Furid. : '"■'■ ; ■'•'-, : -'- i -''■'■. ::