The Public Trustee (Fees) (Amendment) Order 1988

Statutory Instruments

1988 No. 571

TRUSTEES

The Public Trustee (Fees) (Amendment) Order 1988

Made

21st March 1988

Coming into force

1st April 1988

The Treasury, in exercise of the powers conferred on them by section 9 of the Public Trustee Act 1906(1), and with the sanction of the Lord Chancellor, hereby make the following Order:

1.  This Order may be cited as the Public Trustee (Fees) (Amendment) Order 1988 and shall come into force on 1st April 1988.

2.  In article 17 of the Public Trustee (Fees) Order 1985 (“the principal Order”)(2) the words in paragraph (4) from “in respect of the first £10,000” to “0.25 per cent” shall be omitted and the following substituted—

“in respect of the first £20,000	1.25 per cent
in respect of any excess over £20,000 up to £100,000	1 per cent
in respect of any excess over £100,000 up to £250,000	0.5 per cent
in respect of any excess over £250,000 up to £2,000,000	0.4 per cent
in respect of any excess over £2,000,000	0.15 per cent.”

3.  In article 20 of the principal Order—

(a) the figure “6½” shall be substituted for the figure “4½” in paragraph (2); and

(b) the figure “2/13” shall be substituted for the figure “1⅔” in paragraph (3).

Tony Durant

Michael Neubert

Two of the Lords Commissioners of Her Majesty’s Treasury

Dated 17th March 1988

I hereby signify my sanction

Mackay of Clashfern, C.

Dated 21st March 1988

Explanatory Note

(This note is not part of the Order)

This Order further amends the Public Trustee (Fees) Order 1985 by adjusting the administration and withdrawal fees rates fixed by that Order. The adjustment is consequential upon the re-valuation of estates and trust funds brought about by article 4 of the Public Trustee (Fees) (Amendment) Order 1987 (S.I. 1987/403).

(1)

1906 c. 55, as amended by section 1 of the Public Trustee (Fees) Act 1957 (c. 12) and section 2(1) of the Administration of Justice Act 1965 (c. 2).

(2)

S.I. 1985/373, as amended by S.I. 1987/403.