850
c. 53 a. 45.
No. 5.] THE ORDINANCES OF HONGKONG: [A.D. 190
56 & 57 Vict: all or any part of the interest of the beneficiary in the trust estate by way of indemnity to the trustee or person claiming through him.
(2.) This section shall apply to breaches of trust committed as well before as after the commencement of this Ordinance, but shall not apply so as to prejudice any question in an action or other proceeding which is pending at the commencement of this Ordinance.
Trust estate not affected by trustee becoming a convict. rð. a. 48.
Power for trustee, etc., to apply to the Court for advice as to
PART V.
MISCELLANEOUS AND SUPPLEMENTAL PROVISIONS.
60. Property vested in any person on any trust or by way of mortgage shall, in case of that person being convicted of treason or felony, remain in the trustee or mortgagee, or survive to his co-trustee, or descend to his representative as if he had not been so convicted: Provided that this enactment shall not affect the title to the property so far as relates to any beneficial interest therein of any such trustee or mortgagee
61-(1.) Any trustee, executor, or administrator shall be at liberty, without the institution of an action, to apply by petition to the Court or upon a written statement by summons in Chambers, for the opinion, management, advice, or direction of the Court on any question respecting the management or administration of the trust property or the assets of any testator or intestate.
of trust property. 22 & 23 Vict. c. 36 a. 30.
Jurisdiction of the Court to give relief in case of
(2.) The petition or statement shall be signed by counsel, and the Court may require the petitioner or applicant to attend by counsel either in Court or in Chambers, where the Court deems it necessary to have the assistance of counsel.
(3.) The application shall be served on, or the hearing thereof shall be attended by, all persons interested in such application, or such of them as the Court may think expedient.
(4.) The trustee, executor, or administrator acting upon the opinion, advice, or direction given by the Court shall be 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 application: Provided, nevertheless, that this section shall not extend to indemnify any trustee, executor, or administrator in respect of any act done in accordance with such opinion, advice, or direction, if such trustee, executor, or administrator has been guilty of any fraud or wilful concealment or misrepresentation in obtaining such opinion, advice, or direction.
62. If it appears to the Court that a trustee is or may be personally liable for any breach of trust, whether the transaction alleged to be a breach of trust occurred before or after the commencement...
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