THE HONGKONG GOVERNMENT GAZETTE, 12TH JULY, 1873.
guishing it), in Trust to attend the Orders of the said Court; and all Trustees or other Persons having any Shares, Stocks, or Securities standing in their Names in the Books of any Public Company or Corporation established in the Colony, or in the Names of any deceased Persons of whom they shall be personal Representatives, upon any Trusts whatsoever, or the major Part of them, shall be at Liberty on filing such Affidavit as aforesaid, to transfer such Shares, Stocks, or Securities with such Privity and in accordance with such Directions as aforesaid into the Name of the "Official Trustee" (by his Official Designation) or to Deposit the same in his Name in such Bank as aforesaid in the Matter of the particular Trust (describing the same as aforesaid), in Trust to attend the Orders of the said Court; and all Trustees or other Persons in whom any Lands within the Colony or any Interest therein, shall be or become vested upon any Trusts whatever, or the major Part of them shall be at liberty on filing such Affidavit as aforesaid, to convey and assign such Lands or Interest therein with such Privity and in accordance with such Directions as aforesaid to the Official Trustee in Trust to attend the Orders of the said Court; and in every such Case the Certificate of the Certificate Official Trustee for the Money so paid, or of the Transfer or of Official Deposit of such Shares, Stocks, or Securities, or of the Conveyance of such Lands or Interest therein, shall be a sufficient Discharge Discharge. to such Trustees or other Persons for the Money so paid, or the Shares, Stocks, or Securities so transferred or deposited, or the Lands or Interest therein so conveyed as aforesaid.
Trustee to be. sufficient
on Petition
V. Such Orders as shall seem fit shall be from Time to Time Court may made by the Supreme Court in respect of the Trust Estate and for make Orders the Investment and Payment of any such Monies, or of any without Bill Dividends or Interest on any such Sliares, Stocks, or Securities, filed. and for the Transfer and Delivery out of any such Shares, Stocks, [10 & 11 Vict., or Securities, and for the Administration of any such Trusts gene- c. 96, s. 2.] 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 the Trust Estate cannot be safely administered without the Institution of One or more Suit or Suits, the Court may direct any such Suit or Suits to be instituted.
VI. There shall be imposed and levied for the Use of the Charge on Crown upon all Trust Estates administered under this Ordinance, Trust Estate a Charge equivalent to the following Percentage on the net Value for the Use of of the Trust Estate, that is to say: Two per centum where the the Crown. Value of the Trust Estate does not exceed Ten thousand Dollars, and where the Value exceeds Ten thousand Dollars Two per centum on the First Ten thousand Dollars, and One per centum on the Excess. The said Charge shall constitute a primary Lien upon the Trust Estate, and shall be levied in the Case of Trust Monies deposited in a Bank by an Order of the Supreme Court, authorizing the Payment thereof to the Official Trustee for the Use of the Crown, and in the Case of Stocks, Shares, or Securities, by Sale, Mortgage, or otherwise as the Court may by Order direct, and in Case of any such Sale or Mortgage, the Court may by the same or any further Order empower the Official Trustee to execute all Instruments necessary for carrying out this Provision, and Instru- ments so executed, shall be as valid and effectual to al: Inteuts and Purposes as if the same had been executed by all Persons, who, but for this Provision would have been necessary Parties - thereto.
VII. The Official Trustee shall receive out of the general Re- Remuneration venues of the Colony such yearly Salary as shall, from Time to of Oficial Time, be fixed by the Governor in Council.
Trus.ee.
VIII. The Official Trustee shall incur no Personal Liability Protection whatever by reason of any Lands or Interest therein being con- to Official veyed to him upon the Trust aforesaid, or of any Shares, Stocks, Trustee, or Securities being transferred into his Name under this Ord- inance, or by reason of any Loss accruing to the Trust Estate, otherwise than by his own wilful Neglect or Default: Provided always that nothing herein contained shall be deemed to affect any Rights or Remedies against the Trust Estate or against any Cestui-que-Trust or any Person other than the Official Trustee and the Trustee so discharged as aforesaid.
IX. The Rules contained in the Schedule to this Ordinance Rules of shall be observed in Proceedings under the Provisions hereinbefore Procedure and contained, relating to the Summary Administration of Trust Practice.
Funds, subject to the Repeal or Variation thereof, under the Powers for the Time being vested in the Supreme Court in rela- tion to the making of General Rules and Orders.
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