PUBLIC TRUST OFFICE BILL.

Dominion, Volume 1, Issue 45, 16 November 1907, Page 7

PUBLIC TRUST OFFICE BILL.

IMPORTANT AMENDMENTS. Tho Public Trust Office Amendment Bill was reported to the Legislative Council,yesterdny from the Statutes Revision Committee., with amendments. In the Bill as it passed tho Lower House four months ago, the Public Trusteo was given nower to take charge of uncared-for

property, and do anything which lie considers necessary for its maintenance and preservation. In the Bill, as amended by the committee, an application by tho Public Trustee to a Judgo of the Supremo Court and the issue of an order by the Judge aro made conditions precedent to tho excrciso of these powors. The section applies when the owner of any real or personal property is absent from Now Zealand, and lias no in tho Dominion with authority to administer tho property, or when it is not known who or where he is, or whether he is alivo or dead, or when ho is (lead and has lqft executors who are dead or whoso whereabouts are unknown. ■ "' ■

Tho powers which may ho given to tho Public Trustee aro extended to include power to sell the property or anv part thereof,' , or to lease it, or any part of it, for any term not exceeding five years (instead of ono year), to pay any debts duo by the owner, and to ONecuto in his own name and on behalf of tho owner all necessary deeds and instruments.

In tho Bill as it passed the House tho Public Trustee was given power to apply nionoya arising from the property to the maintenance, advancement, or education of any person of whom tho absent owner is a " near relativo " as defined by the Destitute Persons Act, 1594. This does not include a husband or wifo, and this omission has oeen rectified by tho committee. Tho paragraph now reads:" To apply moneys received by him in the exercise of any of tho foregoing powers in the maintenance of the wife, husband, or children of the owner of the aforesaid property. , .' . . ~. . .■ ■ .... Expenses incurred by tho Public Trustee, instead of being'a : first charge on ; tho property, are to come next in priority to mortpages, and are to bear interest at 5 per cent. Tho moneys, received by the Public. after paying out all moneys authorised to bo expended, shall be bold by him in trust for tho owner of the property. ' '■ : "■• ■ : The order under which the Public Trustee acts may be rescinded by. a Judge.of the Supromo Court on the application of the ownor or any person having an interest in tho property. The committee has re-drafted the Bill from tho ond of tho first clause.