1346
No. 5 of 1901.
TRUSTEES.
any receipt for the sake of conformity, and shall be answerable and accountable only for his own acts, receipts, neglects, or defaults, and not for those of any other trustee, nor for any banker, broker, or other person with whom any trust moneys or securities may be deposited, nor for the insufficiency or deficiency of any securities, nor for any other loss, unless the same happens through his own wilful default; and may reimburse himself, or pay or discharge out of the trust premises, all expenses incurred in or about the execution of his trusts or powers.
PART IV.
POWERS OF THE COURT.
Appointment of New Trustees and Vesting Orders.
Power of the 42. (1) The Court may, whenever it is expedient to appoint a Court to appoint new new trustee or new trustees, and it is found inexpedient, difficult, trustees. or impracticable to do so without the assistance of the Court, make [56 & 57 Vict. c. 58 s. 25.] an order for the appointment of a new trustee or new trustees, either in substitution for or in addition to any existing trustee or trustees or although there is no existing trustee. In particular and without prejudice to the generality of the preceding provision, the Court may make an order for the appointment of a new trustee in substitution for a trustee who is convicted of felony or is a bankrupt.
Vesting order as to land. [ib. s. 26.]
(2) An order under this section, and any consequential vesting order or conveyance, shall not operate further or otherwise as a discharge to any former or continuing trustee than an appointment of new trustees under any power for that purpose contained in any instrument would have operated.
(3) Nothing in this section shall give power to appoint an executor or administrator.
43. In the following cases, namely,-
(1) where the Court appoints or has appointed a new trustee; and (2) where a trustee entitled to or possessed of any land, or entitled to a contingent right therein, either solely or jointly with any other person,—
(a) is an infant; or
(b) is out of the jurisdiction of the Court; or
(c) cannot be found; and