Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Where the Commission is satisfied that, having regard to the age, infirmity, ill health or improvidence of a person (the primary person ), it is desirable that payment of a pension, veteran payment or allowance payable to the primary person be made to another person as trustee for the primary person, the Commission may, by instrument in writing, appoint a person to be the trustee, or itself assume the office of trustee, of instalments of the pension, veteran payment or allowance, upon trust to apply them as provided in this section.
(2) Where an instrument is in force under subsection (1) in respect of a pension, veteran payment or allowance payable to the primary person:
(a) instalments of that pension, veteran payment or allowance shall be paid to that trustee;
(b) the trust funds held by the trustee consisting of the instalments of that pension, veteran payment or allowance received by the trustee, investments representing those instalments and interest received on those investments shall be dealt with by the trustee, as follows:
(i) subject to subparagraph (ii) and to subsections 202A(2) and 202B(2), during the life of the primary person--those trust funds may be applied for the benefit of the primary person, or any member of the family, or person dependent on, the primary person, as the trustee sees fit;
(ii) upon the termination of the trust during the life of the primary person--the trust funds held upon the termination of the trust shall be paid or transferred, as the case requires, to the primary person; and
(iii) upon the death of the primary person before the termination of the trust--those trust funds shall be paid or transferred to the legal personal representative of the deceased primary person as part of the estate of the deceased primary person or, if there is no legal personal representative of the deceased primary person and the Commission is satisfied that application will not be made for probate of the will or letters of administration of the estate of the deceased primary person, to the person whom the Commission determines to be best entitled to them.
(4) The Commission may, at any time, by instrument in writing, revoke:
(a) an appointment of a person to be the trustee under subsection (1); or
(b) the assumption by it of the office of trustee under subsection (1);
and, where it does so, it may, in the same instrument, exercise, in relation to that pension, veteran payment or allowance, any of its powers under subsection (1).
(5) Where a person appointed to be a trustee under this section:
(a) dies; or
(b) resigns his or her office by instrument in writing delivered to the Commission;
the Commission may, within 3 months after the death or receipt of the instrument, as the case may be, exercise any of its powers under subsection (1) in relation to the pension, veteran payment or allowance concerned.
(6) Where the Commission exercises its powers under subsection (1) by appointing a person to be the trustee, or itself assuming the office of trustee, of instalments of a pension, veteran payment or allowance in the circumstances referred to in subsection (4) or (5), the trust funds related to instalments of that pension, veteran payment or allowance held by the previous trustee shall, by force of this subsection, become vested in the new trustee.
(7) Where the Commission does not, in the circumstances referred to in subsection (4) or (5), exercise its powers under subsection (1) in relation to a pension, veteran payment or allowance, the trust related to the instalments of that pension, veteran payment or allowance shall be deemed to have been terminated.