Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:1:p11
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 1 (pt 11/148)
Character Range: 355762–358405

exclusion of the provisions of State or Territory laws prescribed in Schedule 8AB.
 (2) For paragraph 601RAE(4)(b) of the Act, the trustee company provisions are intended not to apply to the exclusion of the State or Territory laws, or the provisions of State or Territory laws, prescribed in Schedule 8AC, so far as those laws relate to an administrator of a person's estate.
 (3) For paragraph 601RAE(4)(b) of the Act, the trustee company provisions are intended not to apply to the exclusion of the State or Territory laws, or the provisions of State or Territory laws, prescribed in Schedule 8AD.

Part 5D.2—Powers etc of licensed trustee companies

Division 2.1—Annual Information Returns

5D.2.01  Obligation on licensed trustee company to provide an annual information return if requested
 (1) For section 601SAB of the Act, this regulation prescribes the obligation of a licensed trustee company to provide an annual information return.
 (2) The licensed trustee company commits an offence if:
 (a) a person mentioned in subregulation (3) requests an annual information return; and
 (b) the company does not provide the return to the person in accordance with the requirements in subregulations (5), (6) and (8) and regulation 5D.2.02.
Penalty: 500 penalty units.
 (2A) A person commits an offence if the person is involved in a contravention of subregulation (1) by a licensed trustee company.
Penalty:
 (a) for an individual—50 penalty units; and
 (b) for a body corporate—500 penalty units.
 (3) A person may request an annual information return if the person is one of the following:
 (a) in the case of the estate of a deceased person:
 (i) if the person died testate—a beneficiary under the deceased person's will; or
 (ii) if the person died intestate—a person who, under a law of a State or Territory, has, is entitled to, or claims to be entitled to, an interest in the deceased person's estate; or
 (iii) a person who has commenced a proceeding in a court, under a law of a State or Territory, to seek to be included as a beneficiary of the deceased person's estate;
 (b) in relation to a charitable trust:
 (i) the settlor, or one of the settlors, of the trust; or
 (ii) a person who, under the terms of the trust, has power to appoint or remove a trustee of the trust or to vary (or cause to be varied) any of the terms of the trust; or
 (iii) a person, or a person's appointed successor, who is named in the instrument establishing the trust as a person who must, or may, be consulted by the trustee or trustees before distributing or applying money or other property for the purposes of the trust;
 (c) in the case of any