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Administration of Estates Amendment Act, 1986 (No. 35 of 1986)
GENERAL EXPLANATORY NOTE:
[ ] Words in bold type in square brackets indicate omissions from existing enactments.
__ Words underlined with solid line indicate insertions in existing enactments.
Act
- to amend the Administration of Estates Act, 1965, so as
- to make further provision regarding the handing over to the natural guardian of a minor of movable property to which the minor is entitled according to a liquidation and distribution account;
- to further regulate the payment by the Master of money in the guardian's fund to the natural guardian of a minor who is entitled to that money; and
- to provide for the payment by the Master of money in the guardian's fund to a usufructuary or fiduciary who has a right to such money or to his tutor or curator; and
- to provide for matters connected therewith.
(Afrikaans text signed by the State President.)
(Assented to 9 April 1986.)
BE IT ENACTED by the State President and the Parliament ofthe Republic of South Africa, as follows:-
Amendment of section 43 of Act 66 of 1965, as amended by section 6 of Act 12 of 1984.
1. Section 43 of the Administration of Estates Act, 1965 (hereinafter referred to as the principal Act), is hereby amended by the substitution for subsection (1) of the following subsection:
"(1) The natural guardian of a minor shall, subject to the provisions of subsections (2) and (3) and to the tenns of the will (if any) of the deceased, be entitled to receive from the executor for and on behalf of the minor, any movable property to which the minor is, aceording to any liquidation and distribution account in any deceased estate, entitled [as an heir].".
Amendment of section 90 of Act 66 of 1965, as substituted by section 7 of Act 12 of 1984.
2. Section 90 of the principal Act is hereby amended by the substitution for subsection (2) of the following subsection:
"(2) Where a natural guardian gives security in terms of section 43 (2) after the sum of money to which a minor is, according to any liquidation and distribution account in any deceased estate or by virtue of any other source, entitled [as heir], has been paid into the guardian's fund, the Master may pay to that guardian, for and on behalf of such minor, the sum of money standing to the credit of the minor in the guardian's fund, whereafter the provisions of section 43 (3), (4) and (5) shall mutatis mutandis apply.".
Insertion of section 90A in Act 66 of 1965.
3. The following section is hereby inserted in the principal Act after section 90:
"Payment to usufructuary or fiduciary or to his tutor or curator.
90A. (1) The Master may, where an erson has a right as usufructuary or fiduciary to money which
was paid into the guardian's fund, pay such money to that person or, if that person is a minor. or a person
under curatorship, to his tutor or curator, on condition that such person or his tutor or curator, as the
case may be, has given security to the satisfaction of the Master for the refund of such money on the ter
mination of his right or of his tutorship on curatorship, as the case may be.
(2) The provisions of section 43 (3), (4) and (5) shall mutatis mutandis apply in respect of any security given under subsection (1).".
Short title.
4. This Act shall be called the Administration of Estates Amendment Act, 1986.
Commencement
2 October 1967, all sections, except Chapter 3 (Gazette 1858 of 29 September 1967)
