1964-HKRS28-8-31_Part03 — Page 4

Jurisdiction

of courts to vary trusts,

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3. (1) Where property is held on trusts arising. whether before or after the commencement of this Ordinance, under any will, settle- ment or other disposition, the court may if it thinks fit by order approve on behalf of-

(a) any person having, directly or indirectly, an interest, whether vested or contingent, under the trusts who by reason of infancy or other incapacity is incapable of assenting, or

(b) any person (whether ascertained or not) who may be or may become entitled, directly or indirectly, to an interest under the trusts as being at a future date or on the happening of a future event a person of any specified description or a member of any specified class of persons, so however that this paragraph shall not include any person who would be of that description, or member of that class, as the case may be, if the said date had fallen or the said event had happened at the date of the application to the court, or

(c) any person unborn, or

(d) any person in respect of any discretionary interest of his under protective trusts where the interest of the principal beneficiary has not failed or determined,

any arrangement (by whomsoever proposed, and whether or not there is any other person beneficially interested who is capable of assenting thereto) varying or revoking all or any of the trusts, or enlarging the powers of the trustees of managing or administering any of the property subject to the trusts;

Provided that except by virtue of paragraph (d) of this subsection the court shall not approve an arrangement on behalf of any person unless the carrying out thereof would be for the benefit of that person.

(2) Subject to the provisions of paragraph (b) of subsection (1) (22 of 1962). of section 8 of the District Court (Civil Jurisdiction and Procedure) Ordinance, 1962 (as amended by section 4 of this Ordinance), the jurisdiction conferred by subsection (1) of this section shall be exercis- able by the Supreme Court.

(Cap. 4). (Cap. 291.

Amendment

of section $

of Ordin-

ades No. 22

of 1962.

(3) Nothing in this section shall apply to trusts affecting property settled by Ordinance.

(4) Nothing in this section shall be taken to limit the powers conferred by subsection (2) of section 6 of the Supreme Court Ordin- ance or by section 56 of the Trustee Ordinance.

4. Paragraph (6) of subsection (1) of section 8 of the District Court (Civil Jurisdiction and Procedure) Ordinance, 1962, is amended by the insertion, after the word "subsists", of the following-

"or proceeding under section 3 of the Variation of Trusts Ordinance, 1964, being (in any case) proceedings".

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This printed impression has been carefully compared by me with the Bill which passed the Legislative Council on the 2nd day of December, 1964, and is found by me to be a true and correctly printed copy of the said Bill.

(Secretariat GR10/3231/63)

+

Deputy Clerk of Councils.