Licensed trustee company may be required to provide account in relation to estate
(1) On application by a person with a proper interest in an estate that is administered or managed by a licensed trustee company, the trustee company must provide the person with an account of: (a) the assets and liabilities of the estate; and (b) the trustee company’s administration or management of the estate; and (c) any investment made from the estate; and (d) any distribution made from the estate; and (e) any other expenditure (including fees and commissions) from the estate. Note 1: Failure to comply with this subsection is an offence (see subsection 1311(1)). Note 2: Failure to comply with this subsection may also lead to the consequences set out in subsection (4) of this section. (1A) An estate that is administered or managed by a trustee company, is all or any of the estate of a person (whether living or dead) that is administered or managed by the trustee company in the course of performing estate management functions. (2) If: (a) a licensed trustee company has provided an account to a person under this section; and (b) the person applies for a further account within 3 months from the date on which the person was provided with the previous account; the trustee company need not provide a further account in response to that application until the expiration of that period of 3 months. Note: A defendant bears an evidential burden in relation to the matter in subsection (2), see subsection 13.3(3) of the Criminal Code. (3) A licensed trustee company may charge a reasonable fee for providing an account under this section. (4) If a licensed trustee company fails to provide a proper account under this section, the Court may, on application by the person who sought the account or any other person with a proper interest in the estate, make any order that the Court considers appropriate, including an order requiring the preparation and delivery of proper accounts.
Sourced from the Federal Register of Legislation at 17 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.
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