Section 81 Transaction fee
A transaction fee shall be payable in respect of any order or direction made in exercise of the specific powers conferred by—
paragraphs (d), (e), (h) or (k) of section 96(1) of the Act;
section 100 of the Act;
sections 36(9) and 54 of the Trustee Act 1925; and
section 1(3) of the Variation of Trusts Act 1958f1.
In a special case, the standard fee payable in accordance with the Appendix shall be increased in accordance with the Appendix where there is readily ascertainable pecuniary consideration in the nature of capital arising to or provided by the patient (otherwise than by way of loan to, or repayment of a loan by, the patient), no account being taken of the possible capitalisation of the value of rents or interests or other income payments.
Where a transaction is to be approved under an order mentioned in paragraph (1) above, the fee shall be taken on the approval of the transaction and the Public Trustee shall issue a certificate stating the amount payable.
Except where the Public Trustee otherwise directs, no fee shall be payable under this rule upon the sale or purchase of personal chattels or any investment for the time being authorised by law for the investment of trust property or in securities quoted on any stock exchange in the United Kingdom.
In this rule, “special case” means an order made by the court—
under paragraphs (d) or (h) of section 96(1) of the Act; or
under section 1(3) of the Variation of Trusts Act 1958.
Annotations
Footnotes
- f1