Section 70Part 8 — General Provisions - Trust Assets
Trust assets to be separately accounted for
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All trust assets shall be accounted for separately from executive assets and entity assets.
The chief officer of finance shall manage all trust assets and shall have all such powers as are necessary for this purpose.
Any trust asset received by a ministry, portfolio, the Office of the Ombudsman or the Audit Office shall be immediately transferred to the chief officer of finance.
The chief officer of finance may charge fees in accordance with a scale prescribed by regulations for the management of trust assets which shall be deducted from the trust assets or from income from those assets when returned to the beneficiary, provided that the fee charged shall be no more than the income earned on those trust assets.
Defined Terms
trust assetsexecutive assetsentity assetschief officer of finance