1176
Trustees empowered to sell may sell in lots, and either by auction or by private contract.
[23 & 24 Vic, c. 145, s. 1.]
Sale may be made under special conditions and trustees may buy in, &c. [23 & 24 Vic., c. 145, s. 2.]
ORDINANCE No. 7 of 1873.
Property and Trustees Relief.
Powers of sale and exchange.
14. In all cases where by any will, deed, or other instrument of settlement it is expressly declared that trustees or other persons therein named or indicated shall have a power of sale, either generally or in any particular event, over any hereditaments named or referred to in or from time to time subject to the trusts of such will, deed, or other instrument, it shall be lawful for such trustees or other persons, whether such hereditaments be vested in them or not, to exercise such power of sale by selling such hereditaments either together or in lots, and either by auction or private contract, and either at one time or several times, and (in case the power shall expressly authorise an exchange) to exchange any hereditaments which for the time being shall be subject to the trusts aforesaid for any other hereditaments in Hongkong (as the case may be), and upon such exchange to give or receive any money for equality of exchange.
15. It shall be lawful for the persons making any such sale or exchange to insert any such special or other stipulations, either as to title or evidence of title, or otherwise, in any conditions of sale, or contract for sale or exchange, as they shall think fit, and also to buy in the hereditaments or any part thereof at any sale by auction, and to rescind or vary any contract for sale or exchange, and to resell the hereditaments which shall be so bought in, or as to which the contract shall be so rescinded, without being responsible for any loss which may be occasioned thereby, and no purchaser under any such sale shall be bound to inquire whether the persons making the same may or may not have in contemplation any particular re-investment of the purchase money, the purchase of any other hereditaments or otherwise.
Trustees exercising power of sale, &c., empowered to convey. [23 & 24 Vic. c. 145, s. 3.]
On what securities trust funds may be invested. [23 & 24 Vic., c. 145, s. 25.]
16. For the purpose of completing any such sale or exchange as aforesaid, the persons empowered to sell or exchange as aforesaid shall have full power to convey or otherwise dispose of the hereditaments in question, as may be necessary.
Investment of trust funds.
17. Trustees having trust money in their hands which it is their duty to invest at interest, shall be at liberty, at their discretion, to invest the same in any of the public stocks, funds, or securities in England, or in real securities in any part of the United Kingdom, or on
1176
Trustees empowered to sell may sell in lots, and either by
auction or by private
contract.
[23 & 24 Vic, c. 145, s. 1.]
Sale may be
made under
tions and
trustees may
buy in, &c. [23 & 24 Vic., c. 145, s. 2.]
ORDINANCE No. 7 of 1873.
Property and Trustees Relief.
Powers of sale and exchange.
14. In all cases where by any will, deed, or other instrument of settlement it is expressly declared that trustees or other persons therein named or indicated shall have a power of sale, either generally or in any particular event, over any hereditaments named or referred to in or from time to time subject to the trusts of such will, deed, or other instrument, it shall be lawful for such trustees or other persons, whether such here- ditaments be vested in them or not, to exercise such power
of sale by selling such hereditaments either together or in lots, and either by auction or private contract, and either at one time or several times, and (in case the power shall expressly authorise an exchange) to exchange any hereditaments which for the time being shall be subject to the trusts- aforesaid for any other hereditaments in Hongkong (as the case may be), and upon such exchange to give or receive any money for equality of exchange.
15. It shall be lawful for the persons making any such sale or special condi- exchange to insert any such special or other stipulations, either as to title or evidence of title, or otherwise, in any conditions of sale, or con- tract for sale or exchange, as they shall think fit, and also to buy in the hereditaments or any part thereof at any sale by auction, and to rescind or vary any contract for sale or exchange, and to resell the hereditaments which shall be so bought in, or as to which the contract shall be so rescinded, without being responsible for any loss which may be oc- casioned thereby, and no purchaser under any such sale shall be bound to inquire whether the persons making the same may or may not have in in contemplation any particular re-investment of the purchase money the purchase of any other hereditaments or otherwise.
Trustees exercising
power of sale,
&c., empower. ed to convey.
[23 & 24 Vic.
0. 145, 8. 3.]
On what securities trust funds may be
invested.
[23 & 24 Vic., c. 145, s. 25,
16. For the purpose of completing any such sale or exchange as aforesaid, the persons empowered to sell or exchange as aforesaid shall have full power to convey or otherwise dispose of the hereditaments in question, as may be necessary.
Investment of trust funds.
17. Trustees having trust money in their hands which it is their duty to invest at interest, shall be at liberty, at their discretion, to invest the same in any of the public stocks, funds, or securities in England, or in real securities in any part of the United Kingdom, or on
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