Article 24 Income collection fee
Subject to the following paragraphs, an income collection fee at the rate of 7.5 per cent is 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 the public trustee.
Where the public trustee receives income from dividends or interest after deduction of tax, the income collection fee is 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 is payable at one-half of the rate payable under paragraph (1).
No fee is 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 equitable of any fee payable under this article where—
the public trustee’s duties have been or are likely to be exceptionally simple; or
the circumstances are otherwise exceptional.