Article 15 Amount of acceptance fee
The acceptance fee shall be calculated in accordance with the provisions of this article as a percentage of the gross capital value of the estate or the trust property on the date of acceptance or on such convenient date as the Public Trustee may select.
Where the Public Trustee is acting–
under a declaration of trust in favour of one beneficiary only; or
as original, substituted or additional trustee of property to which an infant is absolutely entitled under a will or on an intestacy,
the rate of the acceptance fee shall be as follows:–
| in respect of the first £50,000 | 1.25 per cent. |
| in respect of any excess over £50,000 | 0.5 per cent. |
but so that the fee payable shall not be less than £175. Provided that no acceptance fee shall be charged in respect of property to which this sub-paragraph applies if that property is immediately and directly derived from an estate or a trust in which the Public Trustee is acting.
In all other cases in which the Public Trustee is acting as trustee the rate of the acceptance fee shall be at one half the rate of the executorship fee but so that the fee payable shall not be less than £550.