CHAPTER 31
PUBLIC TRUSTEE (POWERS AND FUNCTIONS) ACT
[SUBSIDIARY LEGISLATION]
INDEX TO SUBSIDIARY LEGISLATION
APPOINTMENTS
(Section 3)
G.Ns. Nos.
104 of 1930
170 of 1933
179 of 1938
58 of 1941
266 of 1942
250 of 1948
194 of 1949
146 of 1950
292 of 1959
388 of 1960
478 of 1962
22 of 1975
The person holding the post of Administrator-General shall be Public Trustee. Every person holding a post as Assistant Administrator-General shall be an Assistant to the Public Trustee.
NOTICES
(Section 17)
G.N. No. 22 of 1975
1. This Notice may be cited as the Public Trustee Investment Board (Appointment) Notice.
2. The following are hereby appointed members of the Public Trustee Investment Board–
(a) the Permanent Secretary, Ministry of Lands and Urban Settlement – Chairman;
(b) the Treasury Registrar – Member;
(c) Principal State Attorney – Member;
(d) Hon. Mboni Cheka, M.P. – Member; and
(e) the Public Trustee – Member and Secretary of the Board.
3. All appointments to the Board notified prior to the publication of this Notice are revoked.
RULES
(Section 16)
1. Short title
These Rules may be cited as the Public Trustee's Rules.
2. Books to be kept by Public Trustee
The Public Trustee shall keep the following books of account, statements and other records–
(a) a cash book;
(b) a ledger account of trusts, which shall contain separate and distinct accounts for each trust and shall show in detail every debit and credit item and every transaction relating to each trust; and
(c) a register of trusts in which shall be registered full particulars of the property comprised in each trust, showing the nature and value of the trust property, rents and interests payable and collected, and all dealings with the trust property.
{mprestriction ids="1,2,3"}
3. Balance to be kept on hand
The Public Trustee shall not at any time retain in his hands a large cash balance. Any larger sum shall be lodged as soon as possible to the credit of the Public Trustee in an account opened in his name in a bank to be approved by the Minister.
4. Modes of investment
The Public Trustee may invest or retain invested money belonging to any trust or estate and coming to his hands, in any mode of investment–
(a) which is authorised by the trust instrument; or
(b) if there is no trust instrument, which is authorised by law for the investment of trust funds; or
(c) subject to the terms of the trust instrument, if any, by first mortgage on immovable property in Mainland Tanzania up to an amount not exceeding three-fifths of the value of that property; or
(d) subject to the terms of the trust instrument, if any, on fixed deposit with a bank approved by the Minister; or
(e) subject to the terms of the trust instrument, if any, in the Savings Bank which is deemed to be constituted and appointed under the Tanzania Postal Bank Act *; or
(f) subject to the terms of the trust instrument, if any, in any loan, whether raised within or without Mainland Tanzania, which is, or may be, charged upon and payable out of the revenues and assets of Kenya, Mainland Tanzania or Uganda; or
(g) subject to the terms of the trust instrument, if any, in any loan, whether raised within or without Mainland Tanzania which is or may be, charged upon and payable out of the revenues and assets of any city or municipality within Kenya, Mainland Tanzania or Uganda; or
(h) subject to the terms of the trust instrument, if any, in any Government stock of the United Kingdom.
5. Deposit of securities
All securities vesting in the Public Trustee and coming into his possession shall be lodged by him in an approved bank as far as practicable, for safe custody and title deeds and similar documents either may be lodged in any such bank or may be retained by the Public Trustee in his own custody as he may in each case, consider appropriate.
6. Closing of accounts
The Public Trustee's account shall be closed on the 30th day of June and the 31st day of December in each year and a copy of each half-yearly account, shall be filed and retained in the office of the Public Trustee and no person except the Permanent Secretary to the Treasury and the Controller and Auditor-General, shall be entitled to inspect the same or any of the trust accounts in the possession of the Public Trustee, except in pursuance of an order of the court and, a balance sheet with supporting particulars shall be prepared as soon as possible after the closing of the said accounts and, the same shall be audited by the Controller and Auditor-General and, a copy shall be furnished to the Permanent Secretary to the Treasury.
7. Audit of accounts
The accounts of the Public Trustee shall be audited and the securities held by him or on his account shall be verified from time to time by the Government Auditor.
8. Fees payable
The fees payable to the Public Trustee shall be as specified in the Schedule to these Rules and shall be paid into the public revenue.
9. Public Trustee as trustee under a will
Where the Public Trustee has been appointed trustee under any will, the executor of the will or the administrator of the estate concerned, after obtaining probate or letters of administration with will annexed, shall notify the appointment to the Public Trustee in writing, and if so required by the Public Trustee, shall supply him with a copy of the will and of any trust instrument or other document affecting the trust, and such particulars as to the nature and value of the trust property and the liabilities, if any attaching to such property or the holder of that property, and the names and addresses of any beneficiaries under the trust and, such other information as the Public Trustee may consider desirable in any particular case and, after being supplied with such information, the Public Trustee shall decide whether the trust shall be accepted or refused and, shall give the executor or the administrator notice of such acceptance or refusal and, in case of acceptance, shall notify in writing the consent to act in the trust and the terms upon which that consent is given.
10. Payments to beneficiaries
All sums payable by the Public Trustee to any beneficiary, shall be paid at the office of the Public Trustee in Dar-es-Salaam and the cost of any remittance shall be borne by the person at whose request or for whose benefit the remittance is made.
11. Advances
The Public Trustee may make advances for the purposes of any trust in his hands out of any cash balance to the credit of his account with an approved bank.
12. Evidence of life and identity
The Public Trustee may at any time require such evidence as he may think sufficient to prove that a person is alive and is the person to whom any money or property is payable or transferable, and may refuse payment or transfer until such evidence is produced.
13. Parties who cannot be found
Where a person appearing to be beneficially entitled to any sum under a trust or to be interested in the trust property cannot be found or it is not known whether he is living or dead, the Public Trustee may apply to the court for directions as to the course to be taken with reference to such person and, until an order of the court is made, the Public Trustee shall retain any sum payable to such person and may invest the same as provided in rule 4 and accumulate the interest on that sum.
14. Trusts for religious purposes
The Public Trustee shall not accept any trust for religious purposes which involves the exercise by him as trustee of any religious observance or ceremony or the decision of any questions as to the religious merit or character of any individual or institution.
15. Trust involving management of business accepted
The Public Trustee shall not accept any trust which involves the management or carrying on of any business, except for the purpose of winding up such business not to be in order to realise the trust funds and in any case in which it is necessary to wind up any business, the Public Trustee shall be entitled to employ at the expense of the trust, such type or number of persons as may in his opinion be necessary for the purpose of winding up the business and, shall not be liable for any loss which may occur in the management of such business.
16. Professional assistance
Subject to the provisions of the Act and of these Rules and, to the terms of any particular trust, the Public Trustee may in the administration of any trust, take, use and pay for professional advice and assistance in regard to legal and other matters, and may act on any credible information as to matters of fact.
17. Taking of oaths
Any officer or agent of the Public Trustee duly authorised by the Public Trustee in writing in that behalf, may take any oath, make any declaration, verify any account and give personal attendance at any court or place.
SCHEDULE
FEES
In respect of the duties of the Public Trustee in all cases of which he is Trustee, the scale of fees chargeable shall be as follows–
ACCEPTANCE FEES
(a) a fee on acceptance of the trust as the following rates–
(i) On the first £2,000 of the gross capital value of the trust fund, at 3.5 percent;
(ii) on the next £2,000 of the gross capital value of the trust fund, at 2.5 percent;
(iii) on the next £2,000 of the gross capital value of the trust fund, at 1.5 percent;
(iv) on the excess over £6,000 of the gross capital value of the trust fund at 1 percent; or
(v) minimum fee £2.10.0;
INCOME FEES
(b) a fee of 5 percent on the annual income;
WITHDRAWAL FEES
(c) upon the withdrawal of trust moneys from or distribution of trust moneys by, the Public Trustee, a fee at the same rate as in paragraph (a) of this schedule on the capital value of the moneys withdrawn or distributed. {/mprestriction}