Article 18 Annuities

Where trust property includes an annuity or other terminable payment, purchased by any person in the name of, transferred to or covenanted to be paid to the Public Trustee for the benefit of some other person, the administration fee in respect of that annuity or other payment shall be charged at the rate of 3.5 per cent of the gross income without deduction of income tax or other outgoings, and no other fee shall be payable in respect thereof under this Part of this Order.