5
HONG KONG.
No. 18 of 1934.
I assent.
W. PEEL,
L.S.
Governor.
27th July, 1934.
An Ordinance to amend the law relating to
trustees.
[27th July, 1934.]
Be it enacted by the Governor of Hong Hong, with the advice and consent of the Legislative Council thereof, as follows:-
PART I.
PRELIMINARY.
1. This Ordinance may be cited as the Trustee Short title. Ordinance, 1934.
2. In this Ordinance,
Interpreta- tion.
(a) “Authorised investments" means investments 15 Geo. 5, authorised by the instrument, if any, creating the c. 19, s. 68. trust for the investment of money subject to the trust, or by law.
(b) "Contingent right" as applied to land includes a contingent or executory interest, a possibility coupled with an interest, whether the object of the gift or limitation of the interest or possibility is or is not ascertained, also a right of entry, whether immediate or future, and whether vested or contingent.
(c) "Convey" and "Conveyance" as applied to any person include the execution by that person of every necessary or suitable assurance (including an assent) for conveying, assigning, appointing, surrendering, or otherwise transferring or disposing of land whereof he is seized or possessed, or wherein he is entitled to a contingent right, either for his whole estate or for any less estate, together with the performance of all formalities required by law for the validity of the conveyance.
(d) "Instrument" includes enactment.
(e) "Land" includes land of any tenure, and mines and minerals, whether or not severed from the sur- face, buildings or parts of buildings, whether the division is horizontal, vertical or made in any other way, and
other corporeal hereditaments; also &
manor,
and an advowson,
& rent and other incorporeal hereditaments, and an ease- ment, right, privilege, or benefit in, over, or derived from land, or an undivided share in land; and in this definition "mines and minerals" include any strata or seam of minerals or substances in or under any land, and powers of working and getting the same,
and an undivided share thereof.
("Lunatic" means any person who has been found by due course of law to be of unsound mind and incapable of managing his affairs.