44
Liability and powers of Trust Company.
Registration
of a Trust Company as shareholder, etc. not notice of trust.
40
or to restrain the winding up voluntarily of the com- pany; and the court shall have power to make such order as it deems just.
103. Subject to the provisions of this Part of this Ordinance, 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.
104. Neither the application by a Trust Company for registration as a member or shareholder in the books of any company or corporation nor the entry of the name of a Trust Company in the books of any company or corporation shall constitute notice of trust, and no company or corporation shall be entitled to object to enter the name of a Trust Company on its books by reason only that the company may be or is a trustee, and, in dealings with property, the fact that the person or one of the persons dealt with is a Trust Company shall not of itself constitute notice of a trust.
Unclaimed money to be paid into court.
Fees payable by Trust Companies. Second Schedule.
105. All money and securities which shall remain in the hands of a Trust Company, as trustee, unclaim- ed by the person entitled to the same for a period of six years after the time when the same shall have become payable to such person (except where payment has been restrained by order of a court of competent jurisdiction), together with such interest, if any, as shall have been received by the company in respect thereof, less any commission or other charges properly chargeable by the company, shall be paid by the com pany into court under and in accordance with section 62 of this Ordinance Provided that it shall not be necessary for the company to comply with the pro- visions of this section more often than once in any year nor shall it be necessary for the company to ob- tain the concurrence or consent of any person to such payment into court.
106.—(1) There shall be paid by every Trust Com- pany to the Registrar of Companies, in respect of the matters mentioned in the Second Schedule, the several fees specified therein.
(2) All such fees shall be paid by the Registrar of Companies into the Treasury.
(3) It shall be lawful for the Governor in Council from time to time, by notification in the Gazette, to add to or alter the said Schedule.
Indemnity. 15 Geo. 5. c. 19, s. 66.
PART IX.
GENERAL PROVISIONS.
107. 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.