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Explanatory note

Original text. Later amendments are not shown.

(This note is not part of the Order)

This Order amends the Public Trustee (Fees) Order 1985 so as—

(a)

to adjust the withdrawal fee which is payable when the Public Trustee ceases to act in certain circumstances (article 2);

(b)

to provide for all commissions refunded or received to be retained as fees(article 3), and

(c)

to provide for the income collection fee to be payable in respect of net, and not gross, income where income from dividends or interest is received net of tax (article 4).

The overall effect is to reduce the total level of trust fees charged.