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If the assets of a trust includes shares in a company, can that company be appointed as trustee of that trust?

It's not clear to me how section 259A of the Corporations Law works in this situation.

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  • Insider trading?
    – Malekai
    Jun 22, 2019 at 14:46
  • Insider trading rules would only apply if the company had issued marketable securities. In this case, I am looking more at the situation of a Pty Ltd company.
    – Miner_Glitch
    Jun 23, 2019 at 2:50

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The trustee is the legal owner of all assets of the trust. Under 259A a company cannot own its own shares. Therefore, a company cannot be trustee of a trust that holds its shares. Quod erat demonstrandum

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  • Except that's not exactly what 259A says. In particular, does clause (b) of 259A mean that this situation is excepted?
    – Miner_Glitch
    May 22, 2019 at 1:28
  • Also what about clause (c)? If a person held shares in company, and appointed that company as executor of his will, would the grant of probate be allowed under clause (c)?
    – Miner_Glitch
    May 22, 2019 at 1:39

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