STEP NSW Branch invites you to a seminar with The Honourable Justice James Hmelnitsky, Supreme Court of New South Wales.

Topic: Bedrock or Baggage: s 86A of the Trustee Act 1925 (NSW) and the ‘substratum’ rule

Section 86A of the Trustee Act 1925 (NSW) allows the Court to approve ‘any arrangement to vary or revoke all or any of the trust’. It has previously been suggested that the ambit of the Court’s power under s 86A does not extend to approving arrangements which change the whole ‘substratum’ of the trust. The so-called ‘substratum’ rule arose from several authorities considering powers of amendment, particularly the power under the Variation of Trusts Act 1958 (UK) which is the UK analogue of s 86A.

This seminar considers whether, in light of more recent Australian jurisprudence on trust resettlement, the ‘substratum’ rule should serve as a constraint on the exercise of the power under s 86A.

Event Details

Date: Wednesday 21 October 2026

Time: 17:30 - 18:30 AEDT

Venue: Court 13A, Supreme Court of NSW, 184 Phillip Street, Sydney (in person and online via live-stream)

Cost: STEP Members $75 | Non-Members $120

For more information, please contact stepnswaustralia@step.org.

Please ensure the email address you register with is correct, as all event communications will be sent to this address. The link to join the live-stream will be sent to each ticket holder via email 2 hours before this event through the Humanitix system.

This seminar will be recorded, and the recording will be sent to registered attendees within 7 days.

About the Presenter | The Honourable Justice James Hmelnitsky

The Honourable Justice James Hmelnitsky was sworn in as a Judge of the Supreme Court of New South Wales on 1 February 2024. His Honour excelled in arts and law at the University of Sydney. After graduating, his Honour worked as an associate to Justice Munro, Senior Deputy President at the Australian Industrial Relations Commission before practising as a solicitor. His Honour moved to New York City in 1998, where he worked as an attorney before returning to Sydney in 2001. His Honour was called to the bar in August 2001 and joined Sixth Floor Selborne Wentworth Chambers. His Honour conducted a wide range of major cases in commercial law, tax, defamation and administrative law, and took silk in 2013.

His Honour sits as a Judge of the Equity Division and is currently the Revenue List Judge.

STEP NSW Branch Sponsor | Equity Trustees

Equity Trustees was established in 1888 for the purpose of providing independent and impartial trustee and executor services to help families throughout Australia protect their wealth. As one of Australia's largest and oldest listed independent trustees, we offer a diverse range of services to individuals, families and corporate clients asset management, trustee and executor services, estate planning, philanthropic services, Native Title, compensatory trusts, superannuation trusteeship and Responsible Entity (RE) services for external Fund Managers. In 2022, Australian Executor Trustees (AET) joined the Equity Trustees group of companies, expanding our network of offices into all major cities, and the capability of our specialist teams. Together we share a deep commitment to our purpose of helping people take care of the future.

Visit us online for more information or call 1300 133 472.

Contact the host of STEP NSW Evening Seminar | Wednesday 21 October 2026