CO129-548-9 Trustee Ordinance 1934 21-7-1934 - 1-8-1934 — Page 37

ATTORNEY GENERAL'S CHAMBERS,

Hong Kong,

28th July,.....1934.

REPORT ON ORDINANCE No.

18

.of 1934 .

1.

I have examined the accompanying Ordinance. intituled an

Ordinance to amend the law relating to Trustees and am

of opinion that it is one which is not contrary to the

Governor's instructions.

2. The Ordinance codifies, as well as amends, the

law of the Colony relating to Trustees, and its main feature is to replace the Trustees Ordinance, 1901, by

a new Ordinance framed on the lines of the Trustee

Act, 1925 (15 Geo.5.c.19), and of the Straits Settle-

ments Ordinances No.31 of 1926 and No.14 of 1929, with

certain provisions of the Judicial Trustees Act, 1896

(59 & 60 Vict. c.35), also incorporated therein.

3. The principal amendments made by the Ordinance

are as follows:-

(a) A trustee, unless expressly prohibited by the

instrument creating the trust, may invest in securities

payable to bearer, which, if not so payable, would have

been authorised investments. But a trustee other

than a trust corporation must deposit the securities

for safe custody with a banker (s. 8).

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