4.14.3.20 Trustee Requirements for Special Disability Trusts

Summary

This topic contains information on the following:

  • who can be a trustee, and
  • how many trustees are required.

Who can be a trustee

A trustee can be either an individual or a corporation. An individual, or a director of a trustee corporation, must:

  • be an Australian resident, and
  • not have been disqualified at any time from managing corporations under the Corporations Act 2001, and
  • have not been convicted of an offence of dishonest conduct against a law of the Commonwealth, state, territory or foreign country, and
  • have not been convicted of an offence under the SSAct or the SS(Admin)Act or the VEA.

Act reference: SSAct section 1209Q Trustee requirements

How many trustees are required

There must be at least 2 trustees at all times, which includes friends and family, except where a professional trustee is appointed. A professional trustee is either a trustee corporation or an Australian legal practitioner within the meaning of the Legal Profession Act 2004 or its legislative equivalent in other Australian states or territories.

This requirement is contained in the model trust deed. For a copy of the model trust deed, refer to the Special Disability Trusts page on the DSS website.

Last reviewed: 20 September 2018