1328
No. 5 of 1901.
TRUSTEES.
"Transfer," in relation to stock, includes the performance and execution of every deed, power of attorney, act, and thing on the part of the transferor to effect and complete the title in the transferee:
Trust does not include the duties incident to an estate conveyed by way of mortgage; but with this exception "trust" and "trustee" include implied and constructive trusts, and cases where the trustee has a beneficial interest in the trust property, and the duties incident to the office of personal representative of a deceased person.
Appointment of Official Trustee.
*
Payment of trust moneys into bank to credit of Official Trustee.
[10 & 11 Vict. c. 96 s. 1; 56 & 57 Vict. c. 53 s. 42.]
†
Transfer of trust securities into name of Official Trustee. [10 & 11 Vict. c. 96 s. 1.]
PART I.
THE OFFICIAL TRUSTEE.
3.-(1) For the purpose of carrying into effect the provisions of this Part, it shall be lawful for the Governor to appoint a fit and proper person to be Official Trustee.
(2) The said office shall have perpetual succession, and all lands, or any interest therein, and all moneys, stocks, and securities and land which may be vested in the Official Trustee under this Part shall be deemed to be vested in the Official Trustee for the time being, without any further transfer or conveyance.
4. Trustees, or the majority of trustees, having in their hands or under their control any moneys belonging to any trust, shall be at liberty, on filing in the Registry of the Court an affidavit shortly describing the instrument creating the trust, according to the best of their knowledge and belief, to pay the same, with the privity of the Official Trustee and in accordance with such directions as they may receive for the purpose from him, into the Court; and the said trust moneys shall be paid through the Treasury into a bank authorised by the Governor on deposit bearing interest, or otherwise, to the account of the Official Trustee (by his official designation) in the matter of the particular trust (describing the same by the names of the parties, as accurately as may be, for the purpose of distinguishing it), in trust to attend the orders of the Court.
5. Trustees, or the majority of trustees, having any securities standing in their names in the books of any public company or corporation established in the Colony, or in the names of any
*As amended by No. 50 of 1911 and No. 1 of 1912. † As amended by No. 50 of 1911 and No. 2 of 1912.
1328
No. 5 of 1901.
TRUSTEES.
"Transfer," in relation to stock, includes the performance and execution of every deed, power of attorney, act, and thing on the part of the transferor to effect and complete the title in the trans- feree :
Trust does not include the duties incident to an estate conveyed by way of mortgage; but with this exception "trust " and "trustee" include implied and constructive trusts, and cases where the trustee has a beneficial interest in the trust property, and the duties incident to the office of personal representative of a de- ceased person.
Appointment of Official Trustee.
*
Payment of
trust moneys into bank to credit of Official Trustee.
[10 & 11 Vict.
c. 96 s. 1;
56 & 57 Vict.
c. 53 s. 42.]
t
Transfer of trust securi- ties into name of
Official
Trustee. [10 & 11 Vict. c. 96 s. 1.]
PART I.
THE OFFICIAL TRUSTEE.
3.-(1) For the purpose of carrying into effect the provisions of this Part, it shall be lawful for the Governor to appoint a fit and proper person to be Official Trustee.
(2) The said office shall have perpetual succession, and all lands. or any interest therein, and all moneys, stocks, and securities and land which may be vested in the Official Trustee under this Part shall be deemed to be vested in the Official Trustee for the time being, without any further transfer or conveyance.
4. Trustees, or the majority of trustees, having in their hands or under their control any moneys belonging to any trust, shall be at liberty, on filing in the Registry of the Court an affidavit shortly describing the instrument creating the trust, according to the best of their knowledge and belief, to pay the same, with the privity of the Official Trustee and in accordance with such directions as they may receive for the purpose from him, into the Court; and the said trust moneys shall be paid through the Treasury into a bank authorised by the Governor on deposit bearing interest, or other- wise, to the account of the Official Trustee (by his official designa- tion) in the matter of the particular trust (describing the same by the names of the parties, as accurately as may be, for the purpose of distinguishing it), in trust to attend the orders of the Court.
5. Trustees, or the majority of trustees, having any securities standing in their names in the books of any public company or corporation established in the Colony, or in the names of any
*As amended by No. 50 of 1911 and No. 1 of 1912. f As amended by No. 50 of 1911 and No. 2 of 1912.
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