CORPORATIONS ACT 2001

CHAPTER 5D - LICENSED TRUSTEE COMPANIES  

PART 5D.3 - REGULATION OF FEES CHARGED BY LICENSED TRUSTEE COMPANIES  

Division 5 - Miscellaneous  

SECTION 601TEB   DIRECTORS ' FEES  

601TEB(1)   [ Application]  

This section applies if:


(a) an estate that is administered or managed by a licensed trustee company has an interest in a corporation; and


(b) an officer of the trustee company, in his or her capacity as such an officer, acts as a director of the corporation for purposes connected with the administration or management of the estate.

601TEB(2)   [ Director's fees]  

The trustee company is entitled to receive from the corporation (and to retain) any director's fees that would be payable to the officer had he or she so acted otherwise than in his or her capacity as such an officer.

601TEB(3)   [ Officer and estate not entitled to fees]  

Neither the officer nor the estate is entitled to receive the fees that the trustee company is entitled to receive under subsection (2).


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