1 Name of Regulation
This Regulation is the Trustee Companies Regulation 2016.
2 Commencement
This Regulation commences on 1 September 2016 and is required to be published on the NSW legislation website.Note—This Regulation replaces the Trustee Companies Regulation 2011 which is repealed on 1 September 2016 by section 10 (2) of the Subordinate Legislation Act 1989.
3 Definition
(1) In this Regulation:the Act means the Trustee Companies Act 1964.(2) Notes included in this Regulation do not form part of this Regulation.
4 Small estates
(1) For the purposes of sections 15A and 15AA of the Act, a trustee company may file an election to administer an estate if the gross value of the estate in New South Wales is less than $100,000.(2) A notice of an election under section 15A or 15AA of the Act, or a notice under section 15AB of the Act, must state that the election has been made and may contain any other particulars of the election that the trustee company thinks fit.(3) A notice of an election under section 15A or 15AA of the Act must be published:(a) if the deceased person resided in New South Wales at the date of death—in a newspaper circulating in the area where the deceased resided, or(b) in any other case—in a Sydney daily newspaper.
5 Savings
Any act, matter or thing that, immediately before the repeal of the Trustee Companies Regulation 2011, had effect under that Regulation, continues to have effect under this Regulation.