CO129-548-9 Trustee Ordinance 1934 21-7-1934 - 1-8-1934 — Page 23

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vested in the persons who, on the appoint- ment, are the trustees; and

(b) where the person whose right is dealt with by the order was entitled jointly with an- other person, the right shall be vested in that last-mentioned person either alone or jointly with any other person whom the court may appoint.

(2) In all cases where a vesting order can be made under this section, the court may, if it is more con- venient, appoint some proper person to make or join in making the transfer:

Provided that the person appointed to make or join in making a transfer of stock shall be some proper officer of the bank, or the company or society whose stock is to be transferred.

(3) The person in whom the right to transfer or call for the transfer of any stock is vested by an order of the court under this Ordinance may transfer the stock to himself or any other person, according to the order, and all companies, banks and societies shall obey every order under this section according to its tenor.

(4) After notice in writing of an order under this section it shall not be lawful for any company, bank or society to transfer any stock to which the order relates cr to pay any dividends thereon except in accordance with the order.

(5) The court may make declarations and give directions concerning the manner in which the right to transfer any stock or thing in action vested under the provisions of this Ordinance is to be exercised.

(6) The provisions of this Ordinance as to vesting orders shall apply to shares in ships registered under the cnactments relating to merchant shipping as if they were stock.

53. The powers conferred by this Ordinance as to Vesting vesting orders may be exercised for vesting any in- orders of terest in land, stock or thing in action in any trustee

charity property. of a charity or society over which the court would 15 Geo. 5, have jurisdiction upon action duly instituted, whether c. 19, s. 52. the appointment of the trustee was made by instru- ment under a power or by the court under its general or statutory jurisdiction.

infant's

54. Where an infant is beneficially entitled to any Vesting property, the court may, with a view to the applica- orders in tion of the capital or income thereof for the main- relation to tenance, education or benefit of the infant, make an beneficial order-

interest, 15 Geo. 5, (a) appointing a person to convey such property; c. 19, s. 53.

or

(b) in the case of stock, or a thing in action, vesting in any person the right to transfer or call for a transfer of such stock, or to receive the dividends or income thereof, or to sue for and recover such thing in action, upon such terms as the court may think fit.

55. Where a vesting order is made as to any land Orders under this Ordinance founded on an allegation of made of the following matters namely—

any

upon

certain allegations to be conclusive evidence. 15 Geo. 5,

(a) the personal incapacity of a trustee or mort-

gagee; or

(b) that a trustee or mortgagee or the personal c. 19, s. 55.

representative of or other person deriving title under a trustee or mortgagee is out of the jurisdiction of the court or cannot be found, or being a corporation has been dissolved; or

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