1178
Provisions for appointment
of new trustees on death, &c.
Vic.,
c. 145, s. 27.]
ORDINANCE No. 7 of 1873.
Property and Trustees Relief.
Appointment of new trustees.
19. Whenever any trustee, either original or substituted, and whether appointed by the Supreme Court or otherwise, shall die, or desire to be discharged from, or refuse, or become unfit or incapable to act in the trusts or powers in him reposed, before the same shall have been fully discharged and performed, it shall be lawful for the person or persons nominated for that purpose by the deed, will, or other instrument creating the trust (if any) or if there be no such person, or no such person able and willing to act, then for the surviving or continuing trustees or trustee for the time being, or the acting executors, or executor or administrators, or administrator of the last surviving and continuing trustee, or for the last retiring trustee, by writing, to appoint any other person or persons to be a trustee or trustees in the place of the trustee or trustees so dying, or desiring to be discharged, or refusing or becoming unfit or incapable to act as aforesaid; and so often as any new trustee or trustees shall be so appointed as aforesaid, all the trust property (if any) which for the time being shall be vested in the surviving or continuing trustees or trustee or in the heirs, executors, or administrators of any trustee, shall with all convenient speed be conveyed, assigned and transferred, so that the same may be legally and effectually vested in such new trustee or trustees, either solely or jointly with the surviving or continuing trustees or trustee, as the case may require; and every new trustee or trustees to be appointed as aforesaid, as well before as after such conveyance or assignment as aforesaid, and also every trustee appointed by the Supreme Court either before or after the passing of this Ordinance, shall have the same powers, authorities and discretions and shall in all respects act as if he had been originally nominated a trustee by the deed, will, or other instrument creating the trust.
Appointment of new trustees in cases
herein named. [23 & 24 Vic., c. 145, s. 28.]
Trustee's receipts to be discharges.
[23 & 24 Vic., c. 145, s. 29.]
20. The power of appointing new trustees hereinbefore contained may be exercised in cases where a trustee nominated in a will has died in the lifetime of the testator.
Trustee's receipts.
21. The receipts in writing of any trustees or trustee for any money payable to them or him by or in the exercise of any trusts or powers reposed or vested in them or him shall be sufficient discharges for the money therein expressed to be received, and shall effectually exonerate