1172
Certificate of Official
Trustee to be sufficient discharge.
Court may make orders on petition without bill filed.
[10 & 11 Vic., c. 96, s. 2.]
Charge on
trust estate.
for the use of the Crown.
ORDINANCE No. 7 OF 1873.
Property and Trustees Relief.
orders of the said Court; and all trustees or other persons in whom any lands within the Colony or any interest therein, shall be or become vested upon any trusts whatever, or the major part of them shall be at liberty on filing such affidavit as aforesaid, to convey and assign such lands or interest therein with such privity and in accordance with such directions as aforesaid to the Official Trustee in trust to attend the orders of the said Court; and in every such case the certificate of the Official Trustee for the money so paid, or of the transfer or deposit of such shares, stocks, or securities, or of the conveyance of such lands or interest therein, shall be a sufficient discharge to such trustees or other persons for the money so paid, or the shares, stocks, or securities so transferred or deposited, or the lands or interest therein so conveyed as aforesaid.
5. Such orders as shall seem fit shall be from time to time made by the Supreme Court in respect of the trust estate and for the investment and payment of such monies, or of any dividends or interest on any such shares, stocks, or securities, and for the transfer and delivery out of any such shares, stocks, or securities, and for the administration of any such trusts generally, upon a petition to be presented in a summary way to the Supreme Court without bill, by such party or parties, as to the Court shall appear to be competent and necessary in that behalf, and service of such petition shall be made upon such person or persons as the Court shall see fit and direct; and every order made upon any such petition shall have the same authority and effect, and shall be enforced in the same manner as if the same had been made in a suit regularly instituted in the Court; and if it shall appear that the trust estate cannot be safely administered without the institution of one or more suit or suits, the Court may direct any such suit or suits to be instituted.
6. There shall be imposed and levied for the use of the Crown upon all trust estates administered under this Ordinance, a charge equivalent to the following percentage on the net value of the trust estate, that is to say: Two per centum where the value of the trust estate does not exceed ten thousand dollars, and where the value exceeds ten thousand dollars two per centum on the first ten thousand dollars, and one per centum on the excess. The said charge shall constitute a primary lien upon the trust estate, and shall be levied in the case of trust monies deposited in a bank by an order of the Supreme Court, authorizing the payment thereof to the Official Trustee for the use of the Crown, and in other cases...