Administration of Estates Amendment Act 22 of 2018
The purpose of the Administration of Estates Amendment Act 22 of 2018 is to address various matters pertaining to the Guardian’s Fund and other operations of the Directorate.
The amendments makes provision for an investment framework which includes the establishment of an investment committee and policy to ensure a more transparent and effective governance of the investments made by the Master of the High Court.
Although the Guardian’s Fund is audited by the Auditor-General, the Administration of Estates Act, 1965 did not provide for a compulsory annual audit.
The Directorate is in the process of the development and implementation of a new online integrated financial and case management system. All applications relating to the Guardian’s Fund, Deceased Estates and Trust will be done online. The Administration of Estates Act, 1965 had to be aligned to the new Master’s online system.