Trustee.
[CAP. 29
The Official Trustee shall deduct such charge in making up the annual accounts of the estate.
rights and
Official
74. (1) In the administration of any trust estate, the General Official Trustee shall have and may exercise all the rights and powers conferred upon trustees by this Ordinance, so far as they are applicable to such trust estate.
s. 11 (2).
(2) The Official Trustee may, subject to any rules that may be made under section 76, employ for the purposes of any trust such solicitors, bankers, accountants, brokers or other persons, as he may consider necessary, and, in determining the persons to be employed in relation to any trust, he shall have regard to the interests of the trust, but subject to this he shall, whenever practicable, take into consideration the wishes of the creator of the trust and of the other trustees (if any) and of the beneficiaries, either expressed or implied by the practice of the creator of the trust, or in the previous management of the trust.
of liability
Trustee.
75. The Official Trustee shall incur no personal liability by reason of any securities being transferred into his name as aforesaid, or by reason of any land being conveyed to him as aforesaid, or by reason of any loss accruing to any trust estate in his hands, otherwise than by his own wilful neglect or default: Provided that nothing in this Part of this Ordinance shall be deemed to affect any rights or remedies against the trust estate or any cestui que trust or any person other than the Official Trustee and the trustee so discharged as aforesaid.
76. The Governor in Council may make rules for the administration of trust funds.
administra-tion of trust funds.
9 of 1950, Schedule.
PART VIII.
TRUST COMPANIES.
to be regis-
77. Any public company incorporated in the Colony may apply to the Registrar of Companies to be registered as a trust company provided that—
(a) the objects of the company are restricted to some or all of the objects set out in section 81;
507
by company
·tered as trust company.
a
9 of 1950, Schedule,