212728-1934-Supplementary-Draft-Bills--Exchanges-Trustee-Defence-Contribution-Amendment-Births-and-Deaths-Registration — Page 45

500

FIRST SCHEDULE.

[8 76]

Affidavit

to be filed by trustee desiring to pay money to account of, or to deposit

shares, etc., in name of,

Official Trustee.

Directions

for payment of money, etc.

Investment

of moneys.

Notice of payment, etc., to cestui que trust.

Applications relating to fund.

Rules relating to the Administration of Trust Funds.

1. Any trustee desiring to pay money to the account of, or to transfer or deposit shares, stock, or securities into or in the name of, the Official Trustee under the provisions of the Trustee Ordinance, 1933, relating to the administration of trust funds, shall file an affidavit setting forth

(1) his own name and address;

(2) the place where he is to be served with any petition or any notice of any proceeding or order of the court, or of the judge in chambers, relating to the trust fund;

(3) the amount of money, shares, stock, or securi- ties, which he proposes to pay or transfer into or de- posit in court, to the credit of the trust;

(4) a short description of the trust and of the instru- ment creating it;

(5) the name of the persons interested in or entitled to the fund, to the best of the knowledge and belief of the trustee; and

(6) the submission of the trustee to answer all such inquiries relating to the application of the money, shares, stock, or securities paid in, transferred, or deposited under the Ordinance as the court or a judge in chambers may think proper to make or direct.

2. The Official Trustee, on production of an office copy of the affidavit, shall give the necessary directions for payment, transfer, or deposit, and place the money, shares, stock, or securities, to the account of the particular trust; and shall grant a certificate of such payment, transfer, or deposit.

3. Where it is deemed unnecessary to have the money, or the dividends or interest of the shares, stock, or securities, invested in the meantime, the affidavit shall further contain a statement to that effect. But where the affidavit contains no such state- ment, the Official Trustee shall be at liberty to invest, as soon as conveniently may be, the money paid in or the dividends or interest on the shares, stock, or securities transferred, and all accumulations thereof, in or upon such investments and securities as the court may direct or approve, and every such investment shall be made in the matter of the particular trust: Provided that where at any time a request in writing, by or on behalf of any party claiming to be entitled, that such investment may be discontinued is left with the Official Trustee, he shall be at liberty to cease making any further investment in the matter of the particular trust until the court has made some order in that behalf,

4. The trustee, having made the payment, transfer, or deposit, shall forthwith give notice thereof to the several persons named in his affidavit as interested in or entitled to the fund.

5. Such persons, or any of them, or the trustee may apply by petition, or, in a case where the fund does not exceed two thousand dollars in value, by sum- mons, respecting the investment, payment out, or distribution of the fund or of the dividends or interest thereof.

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