AD 1901.]
TRUSTEES.
[No. 5.
trustees: without
of others.
829
& 67 Vict. c. 53 s. 42.
mourrence of the other or others cannot be obtained, the Court may order the payment, transfer, deposit, or conveyance to be made by the concurrence of the majority without the concurrence of the other or others; and where any such moneys or securities are deposited with any banker, broker, or other depositary, the Court may order payment or delivery of the moneys or securities to the majority of the trustees for the purpose of payment into Court,
(2) Every payment, transfer, deposit, delivery, and conveyance made in pursuance of any such order shall be valid and take effect as if the same had been made on the authority or by the act of all the persons entitled to the moneys, securities, or land so paid, transferred, deposited, delivered, or conveyed.
tion of trust
10 & 11 Vict.
c. 96 s. 2.
9(1.) Such orders as may seem fit shall from time to time be made by the Court in respect of the trust estate and for the investment and payment of any such moneys or of any dividends or interest on any such securities, and for the transfer and delivery out of any such securities, and for the administration of any such trust generally, upon a petition to be presented in a summary way to the Court by such party or parties as to the Court may appear to be competent and necessary to that behalf, and service of such petition shall be made on such person or persons as the Court may see fit and direct.
(2) 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 an action regularly instituted in the Court.
4
(3) If in any case it appears that the trust estate cannot be safely administered without the institution of one or more action or actions, the Court may direct any such action or actions to be instituted.
estate admi-
10. (1.) There shall be imposed and levied for the use of the Crown Charges upon every trust estate administered under this Part a charge equivalent to the following percentage on the net value of the trust estate, that is to say, two per cent. where the value of the trust estate does not exceed ten thousand dollars, and where the value exceeds ten thousand dollars two per cent. on the first ten thousand dollars and one per cent. on the excess.
(2.) The said charge shall constitute a primary lien upon the trust estate, and shall be levied, in the case of trust moneys deposited in a bank, by an order of the Court, authorizing the payment thereof to the Official Trustee for the use of the Crown, and, in the case of securities or land, by sale, mortgage, or otherwise as the Court may 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 by the Official Trustee shall be valid.
AD 1901.]
TRUSTEES..
[No. 5.
trustees: without
of others.
829
& 67 Vict. c. 53 s. 42.
mourrence of the other or others cannot be obtained, the Court may der the payment, transfer, deposit, or conveyance to be made by the concurrence
jority without the concurrence of the other or others; and where any oh moneys or securities are deposited with any banker, broker, or other depositary, the Court may order payment or delivery of the moneys: or ecurities to the majority of the trustees for the purpose of payment into Court,
(2) Every payment, transfer, deposit, delivery, and conveyance made in pursuance of any such order shall be valid and take effect as if the same had been made on the authority or by the act of all the persona entitled to the moneys, securities, or land so paid, transferred, de- posited, delivered, or conveyed.
tion of trust
10 & 11 Ficti
c. 96 s. 2.
9(1.) Such orders as may seem fit shall from time to time be made Administra by the Court in respect of the trust estate and for the investment and payment of any such moneys or of any dividends or interest on any. such securities, and for the transfer and delivery out of any such securi- ties, and for the administration of any such trust generally, upon a. petition to be presented in a summary way to the Court by such party or parties as to the Court may appear to be competent and necessary. that behalf, and service of such petition shall be made on such person or persons as the Court may see fit and direct.
in
(2) 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 an action regularly instituted in the Court..
4
(3) If in any case it appears that the trust estate cannot be safely. administered without the institution of one or more action or actions, the Court may direct any such action or actions to be instituted.
estate admi-
10. (1.) There shall be imposed and levied for the use of the Crown Charges upon every trust estate administered under this Part a charge equivalent upon trust to the following percentage on the net value of the trust estate, that is to say, two per cent. where the value of the trust estate does not exceed ten thousand dollars, and where the value exceeds ten thousand dollars two per cent. on the first ten thousand dollars and one per cent. on the
(excess.
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-
(2.) The said charge. shall constitute a primary lien upon the trust estate, and shall be levied, in the case of, trust moneys deposited in a bank, by an order of the Court, authorizing the payment thereof to the Official Trustee for the use of the Crown, and, in the case of securities or land, by sale, mortgage, or otherwise as the Court may 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
nistered by Trustee
Official
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