1985 Ed.]
Trustee
[CAP. 29
53
Provided that the Governor shall not give such consent unless he is satisfied that the extent and nature of the company's business in the Colony is sufficient to justify such special registration.
(2) Consent of the Governor under subsection (1) shall be notified to the Registrar of Companies who shall register the company in the register prescribed by section 79, issue to it a certificate that the company is registered as a trust company, and publish notice thereof in the Gazette for 4 consecutive weeks next following such issue.
(3) The provisions of sections 77, 78, 80, 81, 91, 92, 93, 96 and 100 shall not apply to such company or to such registration, but subject to such exceptions and to the provisions of the succeeding section the said company shall be invested with all the powers, privileges and immunities and shall be subject to all the liabilities imposed by this Part.
(Replaced, 24 of 1950, Schedule. Amended, 72 of 1973, s. 2)
107. The powers of investigation conferred upon inspectors under section 95 shall in the case of a corporation registered as a trust company under section 106 be limited to the trust business of the corporation.
(Added, 17 of 1939, s. 2)
108. On application made by the Attorney General the court may order that any corporation registered under the provisions of section 106 as a trust company shall be struck off the register of trust companies if it ceases to be qualified for registration under that section or if from the consideration of the report of an inspector appointed under section 95 it appears that the corporation has committed a breach of trust, and the court may appoint a new trustee, or new trustees, for any trust property held by the corporation.
(Added, 17 of 1939, s. 2)
Limitation of powers of inspectors under section 95.
Striking off trust company registered under section 106.
PART IX
GENERAL PROVISIONS
109. This Ordinance, and every order purporting to be made under this Ordinance, shall be a complete indemnity to any bank and to all persons for any acts done pursuant thereto, and it shall not be necessary for any bank or person to inquire concerning the propriety of the order, or whether the court by which the order was made had jurisdiction to make it.
Indemnity. 1925 c. 19. s. 66.
FIRST SCHEDULE
FEES TO BE PAID BY TRUST COMPANIES TO THE REGISTRAR OF COMPANIES
1. On application for registration under section 77
2. For certificate of registration under section 78-
(s. 105.]
$20.00