LOAN (INCOME EQUALIZATION DEPOSITS) ACT 1976 (REPEALED)

***** Repealed 22 February 2005 *****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

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)