Document ID: chunk:federal_register_of_legislation:C2009A00108:clause:2_601tbe
Version: federal_register_of_legislation:C2009A00108
Segment Type: clause
Provision Reference: sch 2 cl 601TBE
Character Range: 55882–56740

601TBE  Estate management functions: payment of fees out of estate
 (1) This section applies to the performance by a licensed trustee company of an estate management function relating to a particular estate.
 (2) Subject to subsection (3), fees charged by the trustee company, in accordance with this Part, for the performance of the function are payable to the trustee company out of the capital or income of the relevant estate.
 (3) However:
 (a) a management fee referred to in section 601TDD can only come out of the income of the relevant estate; and
 (b) a common fund administration fee referred to in section 601TDE or 601TDI can only come out of the income received by the common fund on the assets of the charitable trust concerned that are included in the fund.

Division 3—Fees otherwise than for being trustee or manager of a charitable trust