1971-HKRS29-8-38_Part01 — Page 4

(5) If the intestate leaves issue but no husband or wife the residuary estate of the intestate shall be held on the statutory trusts for the issue of the intestate.

(6) If the intestate leaves no husband or wife and no issue but both parents, then the residuary estate of the intestate shall be held in trust for the father and mother in equal shares absolutely.

(7) If the intestate leaves no husband or wife and no issue but one parent, then the residuary estate of the intestate shall be held in trust for the surviving father or mother absolutely.

(8) If the intestate leaves no husband or wife and no issue and no parent, then the residuary estate of the intestate shall be held in trust for the following persons living at the death of the intestate, and in the following order and manner, namely-

firstly, on the statutory trusts for the brothers and sisters of the intestate; but if no person takes an absolutely vested interest under such trusts; then

secondly, for the grandparents of the intestate and, if more than one survive the intestate, in equal shares; but if there is no member of this class; then

thirdly, on the statutory trusts for the uncles and aunts of the intestate, who are brothers or gisters of a parent of the intestate.

(9) In default of any person taking an absolute interest under the foregoing provisions, the residuary estate of the intestate shall belong to the Crown as bona vacantia and the Crown may (without prejudice to any other powers), out of the whole or any part of the property devolving on it, provide for dependants, whether kindred or not, of the intestate, and other persons for whom the intestate might reasonably have been expected to make provision.

(10) A busband and wife shall for all purposes of distribu- tion or division under the foregoing provisions of this section be treated as two persons.

(11) Where the intestate and the intestate's husband or wife bave died in circumstances rendering it uncertain which of them survived the other this section shall have effect as respects the intestate as if the husband or wife had not survived the intestate.

(12) The interest payable on the net sum of twenty-five thousand dollars or such lesser sum, as the case may be, payable to the surviving husband or wife under subsection (3) and the interest payable on the net sum of one hundred thousand dollars or such lesser sum, as the case may be, payable to the surviving husband or wife under subsection (4) shall be primarily payable out of income.

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(13) The Legislative Council may, from time to time, by resolution vary either or both of the net sums charged by sub- sections (3) and (4), and any reference in this Ordinance, or in any other Ordinance, to either of such net sums shall have effect as a reference to the corresponding net sum as varied under this subsection.

(14) Any resolution under subsection (13) varying the amount of either of such net sums shall have effect in relation to the estate of any person dying after the coming into force of the resolution.

5. (1) Where under this Ordinance the residuary estate of an intestate, or any part thereof, is directed to be held on the statutory trusts for the issue of the intestate, the same shall be held upon the following trusts, namely-

(a) in trust, in equal shares if more than one, for all or any of the children or child of the intestate, living at the death of the intestate, who attain the age of twenty-one years or marry under that age, and for all or any of the issue living at the death of the intestate who attain the age of twenty-one years or marry under that age of any child of the intestate who predeceases the intestate, such issue to take through all degrees, according to their stocks, in equal shares if more than one, the share which their parent would have taken if living at the death of the intestate, but no issue shall take whose parent is living at the death of the intestate and is so capable of taking:

(B) the statutory power of advancement, and the statutory provisions which relate to maintenance and accumulation of surplus income, shall apply, but when an infant marries such infant shall be entitled to give valid receipts for the income of the infant's share or interest;

(c) where the property held on the statutory trusts for the issue is divisible into shares, then any money or properly which, by way of advancement or on the marriage of a child of the intestate, has been paid to such child by the intestate or settled by the intestate for the benefit of such child (including any life or lesser interest and including properly covenanted to be paid or settled) shall, subject to any contrary intention expressed or appearing from the circumstances of the case, be taken as being so paid or settled in or towards satisfaction of the share of such child or the share which each child would have taken if living at the death of the intestate, and shall be brought into account, at a valuation (the value to be reckoned as

Statutory trusts

in favour of issue and other classes of relatives of intestate. 1925. c. 21, s. 47.