ORDINANCE No. 7 OF 1873.
Property and Trustees Relief.
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 instruments so executed, shall be as valid and effectual to all intents and purposes as if the same had been executed by all who, but for this provision would have been necessary parties thereto.
Amended by Ordinance No. 5 of 1885.
persons,
7. The Official Trustee shall receive out of the general revenues of the Colony such yearly salary as shall, from time to time, be fixed by the Governor in Council.
1173
Remuneration of Official Trustee.
Protection to Official Trustee.
8. The Official Trustee shall incur no personal liability whatever by reason of any lands or interest therein being conveyed to him upon the trust aforesaid, or of any shares, stocks, or securities being transferred into his name under this Ordinance, 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.
Rules of procedure and practice.
9. The rules contained in the schedule to this Ordinance shall be observed in proceedings under the provisions herein before contained, relating to the summary administration of trust funds, subject to the repeal or variation thereof, under the powers for the time being vested in the Supreme Court in relation to the making of General Rules and Orders.
Advice of the Court as to the Management of Trust Property.
10. Any trustee, executor, or administrator, shall be at liberty, without the institution of a suit, to apply by petition to the Supreme Court, or upon a written statement by summons in Chambers, for the opinion, advice, or direction of the Supreme Court on any question respecting the management or administration of the trust property, or the assets of any testator or intestate, such application to be served upon, or the hearing thereof to be attended by all persons interested in such application, or such of them as the Court shall think expedient, and the trustee, executor, or administrator, acting upon the opinion, advice, or direction, shall be deemed to have discharged their duty in the subject-matter of such application.
*
vice, &c., in management, &c., of trust property. [22 & 23 Vic., c. 35, s. 30.]
N.—As to distribution of assets, see
ORDINANCE No. 7 OF 1873.
Property and Trustees Relief.
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 instruments so executed, shall be as valid and effectual to all intents and purposes as if the same had been executed by all who, but for this provision would have been necessary parties thereto.
Amended by Ordinance No. 5 of 1885.]
persons,
7. The Official Trustee shall receive out of the general revenues of the Colony such yearly salary as shall, from time to time, be fixed by the Governor in Council.
1173
Remunera Trustee.
tion of Official
to Official Trustee.
8. The Official Trustee shall incur no personal liability whatever by Protection reason of any lands or interest therein being conveyed to him upon the trust aforesaid, or of any shares, stocks, or securities being transferred into his name under this Ordinance, 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.
Rules of procedure and
9. The rules contained in the schedule to this Ordinance shall be observed in proceedings under the provisions herein before contained, practice. relating to the summary administration of trust funds, subject to the repeal or variation thereof, under the powers for the time being vested in the Supreme Court in relation to the making of General Rules and Orders.
Trustee, may apply by petition to
executor, &c.,
the Supreme Court for
Advice of the Court as to the Management of Trust Property. 10. Any trustee, executor, or administrator, shall be at liberty, without the institution of a suit, to apply by petition to the Supreme Court, or upon a written statement by summons in Chambers, for the opinion, advice, or direction of the Supreme Court on any question opinion, ad- respecting the management or administration of the trust property, or the assets of any testator or intestate, such application to be served upon, or the hearing thereof to be attended by all persons interested in such application, or such of them as the Court shall think expedient, and the trustee, executor, or administrator, acting upon the opinion, advice, or
*
vice, &c., in management, &c., of trust property. [22 & 23 Vic., c. 35, 8. 30.]
N-As to distribution of assets, sce
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