Corporations Act 2001




601RAB(1)   [ " trustee company " ]  

A trustee company is a company:

(a) that is a corporation to which paragraph 51(xx) of the Constitution applies; and

(b) that is prescribed by the regulations as a trustee company for the purpose of this Act.

601RAB(2)   [ Regulations]  

For the purpose of paragraph (1)(b), companies may (for example) be prescribed:

(a) by setting out a list of companies in the regulations; or

(b) by providing a mechanism in the regulations for the determination of a list of companies.


Before the Governor-General makes a regulation that includes a company in a list set out for the purposes of paragraph (2)(a), the company must satisfy the Minister of the following:

(a) that it is a corporation to which paragraph 51(xx) of the Constitution applies;

(b) that its purposes include:

(i) providing services of the kind referred to in paragraph 601RAC(1)(c) ; and

(ii) performing functions of a kind referred to in paragraph 601RAC(2)(b) and at least one other estate management function;

(c) that it is, and will continue to be, capable of providing the services, and performing the functions, referred to in paragraph (b) of this subsection;

(d) that it is a fit and proper person;

(e) that an unacceptable control situation (as defined in section 601VAA ) does not exist in relation to it in relation to any person;

(f) any other matter the Minister specifies by written notice to the company.

Note: Under Division 137 of the Criminal Code it may be an offence for a company to provide false or misleading information or documents to the Minister in purported compliance with this requirement.

601RAB(3)   [ " client " ]  

A client of a trustee company is a person to whom, within the meaning of Chapter 7 , a financial service (being a traditional trustee company service) is provided by the trustee company.

Note: Regulations made for the purpose of subsection 766A(1B) may prescribe the person or persons to whom a class of traditional trustee company services is taken to be provided.


Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.