Trustee.
[CAP. 29
Schedule.
(4) Any trust company which makes default in forwarding to the Registrar of Companies the verified statement as required by section 94 shall be liable on summary conviction to a fine of one hundred dollars for every day during which the default continues, in addition to any penalty which it may incur under the Companies Ordinance, and any (Cap. 32.) director or manager of the company who knowingly and wilfully authorizes the default shall be liable on summary conviction to the like penalty.
[99
guardian
99. No trust company shall be appointed to be guardian Not to be of the person of an infant or committee of the person of or committee. a lunatic.
[100
on holding
100. No member of a trust company shall at any time Restriction hold shares in the capital of the company to an amount shares in a exceeding one fifth of the issued capital of the company for company. the time being.
[101
trust
winding-up
may be
101. So long as any estate in respect of which a trust Voluntary company is trustee shall remain in whole or in part unadministered, it shall not be lawful to proceed to wind up restrained. the company voluntarily, unless with the sanction of the court, and it shall be lawful for any person interested in such estate, or who may have any claim in respect thereof, to apply to the court in a summary way by motion to restrain any director or any shareholder from disposing of any shares which such director or shareholder may hold in the company or to restrain the winding up voluntarily of the company; and the court shall have power to make such order as it deems just.
[102
102. Subject to the provisions of this Part, the liability of every trust company to the person or persons interested in any estate held by the company as executor, administrator, trustee, receiver, liquidator, assignee, guardian or committee or in any other official or business capacity shall be the same as if the estate had been held by a private person in the like capacity; and the powers of the company shall be the same as those of a private person in the like capacity.
[103
Liability of trust
and powers
company.
519
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