697756-1873-Bills-read-first-time- — Page 8

THE HONGKONG GOVERNMENT GAZETTE, 19тп APRIL, 1873.

every such Case the Receipt of the Registrar for the Money so paid, Certificate of or, in the Case of Shares, Stocks, or Securities, of the Transfer or Registrar to Deposit of such Shares, Stocks or Securities, shall be a sufficient be sufficient Discharge to such Trustees or other Persons for the Money so paid, Discharge. or the Shares, Stocks, or Securities so transferred or deposited.

IV. The Registrar shall incur no personal Liability whatever Protection to in respect of any such Shares, Stocks, or Securities by reason of the Registrar. same having been transferred into his Name under this Ordinance.

on Petition

V. Such Orders as shall seem fit shall be from Time to Time Court may made by the Chief Justice in respect of the Trust Monies, Shares, make Orders Stocks, or Securities so paid in, transferred, and deposited as aforesaid, without Bill and for the Investment and Payment of any such Monies, or of filed. any Dividends or Interest on any such Shares, Stocks, or Securities, [10 & 11 Vict., and for the Transfer and Delivery out of any such Shares, Stocks, c. 90, s. 2.] or Securities, and for the Administration of any such Trusts gene- rally, upon a Petition to be presented in a Summary Way to the Supreme Court without Bill, by such Party or Parties, as to the Court shall appear to be competent and necessary in that behalf, and Service of such Petition shall be made upon such Person or Persons as the Court shall see fit and direct; and every Order made upon any such Petition shall have the same Authority and Effect, and shall be enforced in the same Manner as if the same had been made in a Suit regularly instituted in the Court; and if it shall appear that any such Trust Funds cannot be safely distributed without the Institution of One or more Suit or Suits, the Court may direct any such Suit or Suits to be instituted.

VI. The Rules contained in the Schedule to this Ordinance shall Rules of be observed in Proceedings under the Provisions hereinbefore Procedure and contained, relating to the Summary Administration of Trust Funds. Practice.

Advice of the Court as to the Management of Trust Property.

Petition to

C.

bution of Assets, see Ordinance No. 9 of 1370, s. 3.

VII. Any Trustee, Executor, or Administrator, shall be at Trustee, Liberty, without the Institution of a Suit, to apply by Petition Executor, &c., to the Supreme Court, or upon a written Statement by Summons may apply by in Chambers, for the Opinion, Advice, or Direction of the Chief Judge of Justice on any Question respecting the Management or Adminis- Chancery for tration of the Trust Property, or the Assets of any Testator or Opinion, Ad- Intestate, such Application to be served upon, or the Hearing vice, &c., in thereof to be atteniled by all Persons interested in such Appli- &c., of Trust

Management, cation, or such of them as the Chief Justice shail think expedient, Property. and the Trustee, Executor, or Administrator, acting upon the [22 & 23 Vic., Opinion, Advice, or Direction given by the Chief Justice, shall . 35, s. 30.] be deemed, so far as regards his own Responsibility, to have As to Distri- discharged his Duty as such Trustee, Executor, or Administrator, in the Subject Matter of the said Application: Provided never- theless, that this Ordinance shall not extend to indemnify any Trustee, Executor, or Administrator, in respect of any Act done in accordance with such Opinion, Advice, or Direction, as afore- said, if such Trustee, Executor, or Administrator, shall have been guilty of any Fraud or wilful Concealment or Misrepresentation in obtaining such Opinion, Advice, or Direction; and the Costs of such Application as aforesaid shall be in the Discretion of the Chief Justice: Provided also that the Petition or Statement shall Petition, &c., be signed by Counsel, and the Chief Justice may require the to be signed by Petitioner or Applicant to attend him by Counsel either in Counsel. Chambers, or in Court, where he deems it necessary to have the c. 38, s. 9.]

[23 & 24 Vic., Assistance of Counsel.

Payments under Powers of Attorney.

any

Power of At-

giving such

VIII. No Trustee, Executor, or Administrator making any Pay- Trustee, &c., ment or doing any Act bona fide under cr in pursuance of making Pay- Power of Attorney shall be liable for the Moneys so paid, or the ment under Act so done, by reason that the Person who gave the Power of torney not to Attorney was dead at the Time of such Payment or Act, or had be liable by done some Act to avoid the Power: Provided that the Fact of the Reason of Death, or of the doing of such Act as last aforesaid, at the Time Death of Party of such Payment, or Act bona fide done as aforesaid by such power. Trustee, Executor, or Administrator was not known to him: Pro- [22 & 23 Vic., vided always, that nothing herein contained shall in any Manner c. 35, s. 26.} affect or prejudice the Right of any Person entitled to the Money against the Person to whom such Payment shall have been made, but that such Person so entitled shall have the same Remedy against such Person to whom such Payment shall be made as he would have had against the Trustee, Executor, or Adininistrator if the Money had not been paid away under such Power of Attorney.

Liability in respect of Rents and Covenants.

IX. Where an Exccutor or Administrator, liable as such to the As to Liability Rents, Covenants, or Agreements contained in any Lease or of Executoror Agreement for a Lease granted or assigned to the Testator or Administrator Intestate whose Estate is being administered, shall have satisfied in respect of all such Liabilities under the suid Lease or Agreement for a Lease uants, or

Rents, Cove

;

169