RULE 59
THE REGISTRAR'S COMPENSATION RULE

Analysis

              RULE 59
THE REGISTRAR'S COMPENSATION RULE

 
59.01   Compensation rule

 
59.02   Definition

 
59.03   Registrar trustee compensation

 
59.04   Reimbursement of costs

 
59.05   Compensation may be restricted

 
59.06   Entitlement to compensation

 
59.07   Taxation

 
59.08   Commencement

Compensation rule

5 9.01. This rule, made pursuant to the Trustee Act , RSN1990 chapter T-10, subsection 52(7), to govern the compensation which shall be paid to the Registrar of the Supreme Court when acting as a trustee, may be cited as "The Registrar's Compensation Rule".

153/95 s1

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Definition

59.02. In this rule, "Registrar" shall mean the Registrar of the Supreme Court when acting as a trustee or guardian.

153/95 s1; 18/02 s2

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Registrar trustee compensation

59.03. (1) Subject to rules 59.05 and 59.06 and to the provisions of any act of the Legislature and any subordinate legislation and to any special orders made in relation to such estates as are hereunder mentioned, the Registrar shall be entitled to receive the following compensation in respect of estates of which the Registrar is trustee:

             (a)  Upon all estates a commission of 2 1/2% upon the capital assets received and a commission of 2 1/2% upon the capital assets paid or distributed; in exceptional circumstances, these commissions may be reduced or eliminated by the Registrar;

             (b)  Upon rents, interest, dividends and other income in estates of any amount a commission of 5% upon the amount collected;

             (c)  Upon sales of land, including buildings and other improvements on land, a commission of 5% upon the sale price, and upon sales of chattels a commission of 10% upon the sale price;

             (d)  In the case of continuing trusts, an annual care and management fee of 2/5 of 1% of the average market value of the assets under administration; and

             (e)  In the case of estates of deceased persons, a minimum charge of $250.00, except in those exceptional circumstances when in the discretion of the Registrar the commissions are reduced or eliminated.

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Reimbursement of costs

59.04. In addition to the compensation provided for in rule 59.03, the Registrar shall be reimbursed for the cost of engaging other persons to carry out any of the duties of the Registrar where, in the discretion of the Registrar, it has been necessary to employ such other persons for such purposes due to such difficulties as distance to travel, lack of facilities, shortness of time or other reasonable cause, or where the Registrar has been required to engage such persons for such purposes because of any legislation or subordinate legislation that requires that such duties be carried out by a member of a profession, trade or organization.

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Compensation may be restricted

59.05. Where a sale of land or a sale of chattels has been negotiated by a real estate agent, auctioneer or other authorized person who has been paid or is entitled to be paid a commission for negotiating such sale, the compensation provided for in rule 59.03(1)(c) shall be recoverable by the Registrar only to the extent that it exceeds the commission that was paid to such real estate agent, auctioneer or other person, but the Registrar shall be entitled to recover the amount of such commission as if such person had been retained pursuant to rule 59.04.

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Entitlement to compensation

59.06. (1) The Registrar shall be entitled to receive compensation at the following times:

             (a)  Upon capital assets received, when the assets have been collected in, secured or possessed;

             (b)  Upon capital assets paid or distributed, when the assets are paid or distributed;

             (c)  Upon rents, interest, dividends and other income, when such amounts are collected; and

             (d )  Upon sales of land, including buildings and other improvements on land, and upon sales of chattels, when the proceeds of such sales have been realized.

             (2)  For the purposes of this rule, assets not actually paid or distributed shall be deemed to have been paid or distributed when they are ready to be so paid or distributed but the Registrar is unable to do so for reasons other than a provision in the instrument establishing or regulating the trust or the Registrar's own act or default.

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Taxation

59.07. A party affected shall have the right to a taxation of the Registrar's account.

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Commencement

59.08. This rule shall have effect from and including January 1, 1996.

153/95 s1

Form A

[Rep. by 2004 c36 s52]

Rep. by 2004 c36 s52

©Earl G. Tucker, Queen's Printer