486
charge equivalent to the following percentages.
On the net value of the trust Estate 2% where the value of the Estate does not exceed $10,000 and where the estate exceeds $10,000 2% upon the first $10,000 and 1% on the excess.
Ordinance 5 of 1885 further provides for a charge of a fee of 1% on the annual revenue of a Trust Estate.
Section 18 of Ordinance 7 of 1873 gives a Trustee discretion as to the applying of the income of a Trust Estate for the maintenance and education of infants for whom the money is held in trust.
It will be observed, that the Secretary of State suggests in despatch 30th September 1891 that it may be found convenient to continue the general examination now made with a detailed test Audit say of one month in each year selected at random but I would submit, that seeing the nature of the account such an examination would be of little use in detecting irregularities and that if a detailed audit is considered necessary a better expedient would be to take at random a few estates and go through all the documents connected with them with a view to seeing that the proper sums were collected and brought to account, and that as regards payments such orders and authorities as may be considered necessary by any new regulations which may be framed are forthcoming.
As regards the question of fees of Court generally the blue book shows certain fees but under Ordinance 13 of 1873 section 94 subsection 3 it is
486
charge equivalent to the following percentages.
On the net value of the trust Rstate 27 where the
value of the Estate does not exceed $10,000 and
where the estate exceeds $10,000 2 upon the first
10,000 and 17 on the excess.
Ordinance 5 of 1885 further provides for
to charge of a foe of 1% on the annual revenue of a
Trust Estate.
Section 18 of Ordinance 7 of 1873 gives a
Trustee discretion as to the applying axxx the in-
come of a Trust Estate for the maintenance of
and education of infants for whom the money is held
in trust.
It will be observed, that the Secretary of
State suggests in despatch 30th September 1891 that it may be found convenient to continue the eneral
examination now made with a detailed test Audit
say of one month in each year selected at random but I would submit, that seeing the nature of the
account such an examination would be of little use in detecting irregularities and that if a detailed audit is considered necessary a better expedient
would be to ba.e at random & few estates and go through all the documents connected with them with a view to seeing that the proper suns were collected and brought to account, and that as regards payments such orders and authorities as may be considered necessary by any new regulations which may be framed are forthcoming.
As regards the question of fees of Court generally the blue book shows certain foos but under Ordinance 13 of 1873 section 94 subsection 3 it is
7
No comments yet.
Private notes are available after approval.