ARRANGEMENT OF SECTIONS
1. Short title.
3. Appointment of Public Trustee.
4. Corporation sole.
5. Duties of Public Trustee.
6. Appointment of Public Trustee as trustee by person creating trust.
7. Appointment of Public Trustee as trustee by court.
8. Transfer of legacy, etc., of infant or lunatic to Public Trustee.
9. Security not required.
10. Government liability for acts of Public Trustee
11. Fees chargeable.
12. Accounts to be audited.
13. Court orders.
14. Powers to incur expenditure.
15. Power of advancement.
16. Power to make rules.
PUBLIC TRUSTEE INVESTMENT BOARD
17. Establishment of Public Trustee Investment Board.
18. Formation of common fund.
19. Investments to be sanctioned by the Board.
20. Authorised investments.
21. Creation and utilisation of reserve fund.
THE PUBLIC TRUSTEE (POWERS AND FUNCTIONS) ACT
An Act to provide for the appointment of a Public Trustee and to define the powers and duties of such officer and to provide for the appropriation of capital moneys in the hands of the Public Trustee to a common fund and to provide for related matters.
[Parts I and II, 15th July, 1930]
[Part III, 1st October, 1940]
2 of 1930
46 of 1940
39 of 1952
35 of 1961
388 of 1960
478 of 1962
[R.L. Cap. 31]
PRELIMINARY PROVISIONS (ss 1-2)
This Act may be cited as the Public Trustee (Powers and Functions) Act.
In this Act, unless the context requires otherwise–
"agent" means an agent of the Public Trustee duly appointed in accordance with section 3 of this Act;
"court" means the High Court;
"Minister" means the Minister for the time being responsible for legal affairs.
PUBLIC TRUSTEE (ss 3-16)
The Minister may appoint any fit and proper person to be the Public Trustee for Mainland Tanzania, and may appoint one or more assistants or agents to the Public Trustee, and any assistant or agent so appointed shall, subject to the control of the Public Trustee, be competent to discharge any of the duties and exercise any of the powers of the Public Trustee, and when discharging such duties, or exercising such powers, shall have the same privileges and be subject to the same liabilities as the Public Trustee.
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