LOAN (INCOME EQUALIZATION DEPOSITS) ACT 1976 (REPEALED)

***** Repealed 22 February 2005 *****

PART II - MAKING OF DEPOSITS

SECTION 11 DEPOSITS ON BEHALF OF BENEFICIARIES OF TRUST ESTATES

11(1) [Deposit by trustee]

A trustee of a trust estate may make a deposit in accordance with this Act on behalf of a beneficiary who is presently entitled to a share of the income of the trust estate but is under a legal disability at the time of the making of the deposit.

View history note

11(2) [Restriction]

Except as provided by subsection (1), a trustee of a trust estate is not entitled to make a deposit on behalf of a beneficiary or otherwise in his capacity as a trustee.

11(3) (Omitted by No 173 of 1984)

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