AD 1901.]
TRUSTEES.
[No. 5.
827
"Mortgage" and "Mortgagee" include and relate to every estate and interest regarded in equity as merely a security for money, and every person deriving title under the original mortgagee:
"Pay" and "Payment," as applied in relation to stocks and securities and in connexion with the expression "into Court," include the deposit or transfer of the same in or into Court:
"Possessed" applies to receipt of income of, and to any vested estate less than a life estate, legal or equitable, in possession or in expectancy, in any land:
"Property" includes movable and immovable property, and any estate and interest in any property, movable or immovable, and any debt, and any thing in action, and any other right or interest, whether in possession or not:
"Rights" include estates and interests:
"Securities" include stocks, funds, and shares, and, so far as relates to payments into Court, include Imperial Government securities, and any security of any foreign state, any British possession, or any body corporate or company, or standing in books kept by any body corporate, company, or person in the United Kingdom or in this Colony, and all stocks, funds, and effects:
"Stock" includes fully paid up shares; and, so far as relates to vesting orders made by the Court under this Ordinance, includes any fund, annuity, or security transferable in books kept by any company or society, or by instrument of transfer, either alone or accompanied by other formalities, and any share or interest therein:
"The Court" means the Supreme Court:
**
"Transfer," in relation to stock, includes the performance and execution of every deed, power of attorney, act, and thing on the part of the transferor to effect and complete the title in the transferee:
"Trust" does not include the duties incident to an estate conveyed by way of mortgage; but with this exception "trust" and "trustee" include implied and constructive trusts, and cases where the trustee has a beneficial interest in the trust property, and the duties incident to the office of personal representative of a deceased person.
PART I.
THE OFFICIAL TRUSTEE.
Appointment of Official Trustee
(1.) For the purpose of carrying into effect the provisions of this Part, it shall be lawful for the Governor from time to time to appoint a fit and proper person to be Official Trustee under this Ordinance.