Article 24 Income collection fee
Subject to the provisions of this article, an income collection fee at the rate of 3.5 per cent shall be payable at such time or times as the Public Trustee may direct in respect of the gross income of any estate or trust received by him.
Where the Public Trustee receives income from dividends or interest after deduction of tax, the income collection fee shall be payable in respect of the income so received.
Where the Public Trustee is acting exclusively under a declaration of trust for one beneficiary only, the income collection fee shall be payable at one-half of the rate prescribed above.
No fee shall be payable under this article in respect of an annuity or other terminable payment to which article 18 applies.
The Public Trustee may remit so much as appears to him equitable of any fee payable under this article where–
his duties have been or are likely to be exceptionally simple; or
the circumstances are otherwise exceptional.