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Power of
Court to authorise dealing with trust property. 15 Geo. 5. c. 19, s. 57.
Persons
entitled to apply for orders.
15 Geo. 5, č. 19, s. 58.
Power to
give judg. ment in absence of a trustee. 15 Geo. 5, c. 19, s. 59.
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(c) that it is uncertain which of two or more trustees, or which of two or more persons interested in a mortgage, was the survivor;
or
(d) that it is uncertain whether the last trustee or the personal representative of or other per- son deriving title under a trustee or mort- gagee, or the last surviving person interested in a mortgage is living or dead; or
(e) that any trustee or mortgagee has died in- testate without leaving a person beneficially interested under the intestacy or has died and it is not known who is his personal represen- tative or the person interested;
the fact that the order has been so made shall be conclusive evidence of the matter so alleged in any court upon any question as to the validity of the order; but this section does not prevent the court from directing a reconveyance or surrender or the payment of costs occasioned by any such order if umproperly obtained,
Jurisdiction to make other Order.
56. (1) Where in the management or administra- tion of any property vested in trustees, any sale, lease, mortgage, surrender, release, or other disposi- tion, or any purchase, investment, acquisition, ex- penditure, or other transaction, is in the opinion of the court expedient, but the same cannot be effected by reason of the absence of any power for that pur- pose vested in the trustees by the trust instrument, if any, or by law, the court may by order confer upon the trustees, either generally or in any particular in- stance, the necessary power for the purpose, on such terms, and subject to such provisions and conditions, if any, as the court may think fit and may direct in what manner any money authorised to be expended, and the costs of any transaction, are to be paid or borne as between capital and income.
(2) The court may, from time to time, rescind or vary any order under this section, or may make any new or further order.
(3) An application to the court under this section may be made by the trustees, or by any of them, or by any person beneficially interested under the trust.
57. (1) An order under this Ordinance for the ap- pointment of a new trustee or concerning any interest in land, stock or thing in action subject to a trust, may be made on the application of any person bene. ficially interested in the land, stock, or thing in action, whether under disability or not, or on the application of any person duly appointed trustee thereof.
(2) An order under this Ordinance concerning any interest in land, stock, or thing in action subject to a mortgage may be made on the application of any per- son beneficially interested in the equity of redemption, whether under disability or not, or of any person in- terested in the money secured by the mortgage.
58. Where in any action the court is satisfied that diligent search has been made for any person who, in the character of trustee, is made a defendant in any action, to serve him with a process of the court, and that he cannot be found, the court may hear and determine the action and give judgment therein against that person in his character of a trustee as if he had been duly served, or had entered an appear- ance in the action, and had also appeared by his solicitor at the hearing, but without prejudice to any interest he may have in the matters in question in the action in any other character.
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59. The court may order the costs and expenses of Power to and incident to any application for an order appoint- charge ing a new trustee, or for a vesting order, or of and costs on incident to any such order, or any conveyance or 15 Geo. 5,
trust estate. transfer in pursuance thereof, to be raised and paid
c. 19, s. 60. out of the property in respect whereof the same is made, or out of the income thereof, or to be borne and paid in such manner and by such persons as to the court may seem just.
60. If it appears to the court that a trustee, whe- Power to ther appointed by the court or otherwise, is or may relieve
trustee from be personally liable for any breach of trust, whether
personal the transaction alleged to be a breach of trust occurred liability. Defore or after the commencement of this Ordin- 15 Geo. 5, ance, but has acted honestly and reasonably, and c. 19, s. 61. ought fairly to be excused for the breach of trust and
for omitting to obtain the directions of the court in the matter in which he committed such breach, then the court may relieve him either wholly or partly from personal liability for the same.
61.-(1) Where a frustee commits a breach of trust Power to at the instigation or request or with the consent in make writing of a beneficiary, the court may, if it thinks beneficiary indemnify fit, and notwithstanding that the beneficiary may be a for breach married woman restrained from anticipation, make of trust. such order as to the court seems just, for impounding 15 Geo. 5, all or any part of the interest of the beneficiary in 19, s. 62. the trust estate by way of indemnity to the trustee
or persons claiming through him.
(2) This section applies to breaches of trust com- mitted as well before as after the commencement of
this Ordinance.
Payment into Court.
62. (1) Trustees, or the majority of trustees, hav- Payment ing in their hands or under their control money or into court securities belonging to a trust, may pay the same into 15 Geo. 5,
by trustees. court, and the same shall, subject to the rules of c. 19, s. 63. court, be dealt with according to the orders of the
court.
(2) The receipt or certificate of the proper officer shall be a sufficient discharge to trustees for the money or securities so paid into court.
(8) Where money or securities is or are vested in any persons as trustees, and the majority are desirous of paying the same into court, but the concurrence
of the other or others cannot be obtained, the court may order the payment into court to be made by the majority without the concurrence of the other or others.
(4) Where any such
money or securities are de- posited with any banker, broker, or other depositary, the court may order payment or delivery of the money or securities to the majority of the trustees for the purpose of payment into court.
(5) Every transfer, payment and delivery made in pursuance of any such order shall be valid and take effect as if the same had been made on the authority or by the act of all the persons entitled to the money and securities so transferred, paid or delivered.
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