Acts and Regulations

P-26.5 - Public Trustee Act

Full text
Common funds
11(1)For the purposes of investing money, the Public Trustee shall establish and maintain at least one common fund within the trust fund account.
11(2)An investment of money in a common fund is not made on account of or for the benefit of a particular person, estate or trust and the investment does not belong to a particular person, estate or trust.
11(3)The interest of a person, estate or trust entitled to a share or interest in a common fund is in common with the interest of all other persons, estates or trusts entitled to a share or interest in the common fund.
11(4)The Public Trustee shall, in accordance with the regulations, allocate income earned by a common fund to the credit of the persons, estates or trusts for whom or for which the investment was made.
Common funds
11(1)For the purposes of investing money, the Public Trustee shall establish and maintain at least one common fund within the trust fund account.
11(2)An investment of money in a common fund is not made on account of or for the benefit of a particular person, estate or trust and the investment does not belong to a particular person, estate or trust.
11(3)The interest of a person, estate or trust entitled to a share or interest in a common fund is in common with the interest of all other persons, estates or trusts entitled to a share or interest in the common fund.
11(4)The Public Trustee shall, in accordance with the regulations, allocate income earned by a common fund to the credit of the persons, estates or trusts for whom or for which the investment was made.