CO129-548-9 Trustee Ordinance 1934 21-7-1934 - 1-8-1934 — Page 25

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Power of

court on application to appoint judicial trustee.

59 & 60 Vict. c. 35, s. 1.

Rules. 59 & 60 Vict. c. 35, s. 4.

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PART VI.

THE JUDICIAL TRUSTEE.

63.-(1) Where application is made to the court by or on behalf of the person creating or intending to create a trust, or by or on behalf of a trustee or beneficiary, the court may, in its discretion, appoint a person (in this part of this Ordinance called a judicial trustee) to be a trustee of that trust, either jointly with any other person or as sole trustee, and, if sufficient cause is shown, in place of all or any exist- ing trustees.

(2) The administration of the property of a deceased person, whether a testator or intestate, shall be a trust, and the executor or administrator a trustee, within the meaning of this part of this Ordinance.

(3) Any fit and proper person nominated for the purpose in the application may be appointed a judicial trustee, and, in the absence of such nomination, or if the court is not satisfied of the fitness of a person so nominated, an official of the court may be appoint- ed, and in any case a judicial trustee shall be subject to the control and supervision of the court as an officer thereof.

(4) The court may, either on request or without request, give to a judicial trustee any general or special directions in regard to the trust or the ad- ministration thereof.

(5) There may be paid to the judicial trustee out of the trust property such remuneration, not exceed- ing any prescribed limits, as the court may assign in each case, subject to any rules under this part of this Ordinance respecting the application of such re- muneration where the judicial trustee is an official of the court, and the remuneration so assigned to any judicial trustee shall, save as the court may for special reasons otherwise order, cover all his work and per- sonal outlay.

(6) Once in every year the accounts of every trust of which a judicial trustee has been appointed shall be audited, and a report thereon made to the court Ly such persons as may be prescribed, and, in any case where the court shall so direct, an inquiry into the administration by a judicial trustee of any trust, or into any dealing or transaction of a judicial trustee, shall be made in such manner as may be prescribed.

64.-(1) The Chief Justice may with the approval of the Legislative Council make rules for carrying into effect this part of this Ordinance and especially :-

(a) for requiring judicial trustees, who are not officials of the court, to give security for the due application of any trust property under their control;

(b) respecting the safety of the trust property,

and the custody thereof;

(c) respecting the remuneration of judicial trus- tees and for fixing and regulating the fees to be taken under this part of this Ordinance £o as to cover the expenses of the administra- tion of this part of this Ordinance, and respecting the payment of such remuneration and fees out of the trust property, and, where the judicial trustee is an official of the court, respecting the application of the re- muneration and fees payable to him;

(d) for dispensing with formal proof of facts in

proper cases;