306
THE HONGKONG GOVERNMENT GAZETTE, 12TH JULY, 1873.
Trustee,
Court for
N-As to Distri-
see Ordinance No. 9 of 1870, s. 3.
Advice of the Court as to the Management of Trust Property.
X. Any Trustee, Executor, or Administrator, shall be at Executor, &c., Liberty, without the Institution of a Suit, to apply by Potition may apply by Petition to to the Supreme Court, or upon a written Statement by Summons the Supreme in Chambers, for the Opinion, Advice, or Direction of the Supreme Court on any Question respecting the Management or Adininis- Opinion, Ad- tration of the Trust Property, or the Assets of any Testator or vice, &c., in
Intestate, such Application to be served upon, or the Hearing Management, &c., of Trust thereof to be attended by all Persons interested in such Appli- Property. cation, or such of them as the Court shall think expedient, [22 & 23 Vic, and the Trustee, Executor, or Administrator, acting upon the e. 35, s. 30. Opinion, Advice, or Direction given by the Court, shall be bution of Assets, deemed, so far as regards his own Responsibility, to have discharged his Duty as such Trustee, Executor, or Administrator, in the Subject Matter of the said Application: Provided never- theless, that this Ordinance shall not extend to indemnify any Trustee, Executor, or Administrator, in respect of any Act done in accordance with such Opinion, Advice, or Direction, as afore- said, if such Trustee, Exccutor, or Administrator, shall have been guilty of any Fraud or wilful Concealment or Misrepresentation in obtaining such Opinion, Advice, or Direction; and the Costs of such Application as aforesaid shall be in the Discretion of the Petition, &c., Court: Provided also that the Petition or Statement shall to be signed by be signed by Counsel, and the Court may require the Petitioner 123 & 24 Vic., or Applicant to attend him by Counsel either in Chambers, c. 38, 9. 9.] or in Court, where it deems it necessary to have the Assistance
of Counsel.
Counsel.
Trustee, &c., making Pay- Power of At- torney not to be liable by
ment under
Payments under Powers of Attorney.
XI. No Trustee, Executor, or Administrator making any Pay- ment or doing any Act bond fide under or in pursuance of any Power of Attorney shall be liable for the Moneys so paid, or the Act so done, by reason that the Person who gave the Power of Attorney was dead at the Time of such Payment or Act, or had Reason of
done some Act to avoid the Power: Provided that the Fact of the Death of Party
Death, or of the doing of such Act as last aforesaid, at the Time giving such Power.
of such Payment, or Act bonú fide done as aforesaid by such Trustee, Executor, or Administrator was not known to him: Pro- vided always, that nothing herein contained shall in any Manner affect or prejudice the Right of any Person entitled to the Money against the Person to whom such Payment shall have been made, but that such Person so entitled shall have the same Remedy against such Person to whom such Payment shall be made as he would have had against the Trustee, Executor, or Administrator if the Money had not been paid away under such Power of Attorney. Liability in respect of Rents and Covenants.
[22 & 23 Vic., c. 35, s. 26.]
As to Liability
of Executor or
Administrator
in respect of Rents, Cove
rants, or Agreements. [22 & 23 Vic.,
XII. Where an Executor or Administrator, liable as such to the Rents, Covenants, or Agreements contained in any Lease or Agreement for a Lease granted or assigned to the Testator or Intestate whose Estate is being administered, shall have satisfied all such Liabilities under the said Lease or Agreement for a Lease as may have accrued due and been claimed up to the Time of c. 35, s. 27.] the Assignment hereafter mentioned, and shall have set apart a sufficient fund to answer any future Claim that may be made in respect of any fixed and ascertained sum covenanted or agreed by the Lessee to be laid out on the Property demised or agreed to be demised, although the Period for laying out the same may not have arrived, and shall have assigned the Lease or Agreement for a Lease to a Purchaser thereof, he shall be at liberty to dis- tribute the Residuary Personal Estate of the Deceased to and amongst the Parties entitled thereto respectively, without ap- propriating any Part or any further Part (as the Case may be) of the Personal Estate of the Deceased to meet any future Liability under the said Lease or Agreement for a Lease; and the Executor or Administrator so distributing the Residuary Estate shall not, after having assigned the said Lease or Agreement for a Lease, and having, where necessary, set apart such sufficient Fund as aforesaid, be personally liable in respect of any sub- sequent Claim under the said Lease or Agreement for a Lease; but nothing herein contained shall prejudice the Right of the Lessor or those claiming under him, to follow the Assets of the Deceased into the Hands of the Person or Persons to or amongst whom the said Assets may have been distributed.
Every Trust Instrument to
Indemnity to Trustees.
XIII. Every Deed, Will, or other Instrument creating a Trust be deemed to either expressly or by implication shall, without Prejudice to the contain Clauses Clauses actually contained therein, be deemed to contain a Clause for the Indem-in the Words or to the Effect following; that is to say "That the nity and Reim-Trustees or Trustee for the Time being of the said Deed, Will, or other bursement of Instrument shall be respectively chargeable only for such Moneys, [22 & 23 Vic., Stocks, Funds and Securities as they shall respectively actually è. 35, s. 31.] receive, notwithstanding their respectively signing any Receipt
the Trustees.
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