TRUSTEES.
No. 5 of 1901.
1355
statute shall run against a married woman entitled in possession for her separate use, whether with or without a restraint upon anticipation, but shall not begin to run against any beneficiary unless and until the interest of such beneficiary shall be an interest in possession.
(2) No beneficiary, as against whom there would be a good defence by virtue of this section, shall derive any greater or other benefit from a judgment or order obtained by another beneficiary than he could have obtained if he had brought such action or other proceeding and this section had been pleaded.
(3) For the purposes of this section, the expression "trustee" shall be deemed to include an executor or administrator and a trustee whose trust arises by construction or implication of law as well as an express trustee, but not the Official Trustee.
(4) The provisions of this section shall apply as well to several joint trustees as to a sole trustee.
(5) This section shall apply only to actions or other proceedings commenced on or after 1st January, 1902, and shall not deprive any executor or administrator of any right or defence to which he is entitled under any existing statute of limitations.
c. 53 s. 49.]
64. This Ordinance, and every order purporting to be made under this Ordinance, shall be a complete indemnity to any bank and to all persons for any acts done pursuant thereto; and it shall not be necessary for any bank or person to inquire concerning the propriety of the order or whether the Court had jurisdiction to make the same.
[56 & 57 Vict.
s. 65, rep. No. 1 of 1912.]
SCHEDULE.
[s. 13.]
RULES RELATING TO THE SUMMARY ADMINISTRATION OF TRUST FUNDS.
1. Any trustee desiring to pay money to the account of, or to transfer or deposit shares, stock, or securities into or in the name of, the Official Trustee under the provisions of the Trustee Ordinance, 1901, relating to the summary administration of trust funds, shall file an affidavit setting forth--
(1) his own name and address;
(2) the place where he is to be served with any petition or any notice of any proceeding or order of the Court, or of the Judge in Chambers, relating to the trust fund;
trustee desiring to pay money to account of, or to deposit shares, etc., in name of, Official Trustee.
1Page 31
TRUSTEES.
No. 5 of 1901.
1355
statute shall run against a married woman entitled in possession for her separate use, whether with or without a restraint upon anti- cipation, but shall not begin to run against any beneficiary unless and until the interest of such beneficiary shall be an interest in possession.
(2) No beneficiary, as against whom there would be a good de- fence by virtue of this section, shall derive any greater or other benefit from a judgment or order obtained by another beneficiary than he could have obtained if he had brought such action or other proceeding and this section had been pleaded.
(3) For the purposes of this section, the expression "trustee " shall be deemed to include an executor or administrator and a trustee whose trust arises by construction or implication of law as well as an express trustee, but not the Official Trustee.
(4) The provisions of this section shall apply as well to several joint trustees as to a sole trustee.
(5) This section shall apply only to actions or other proceedings commenced on or after 1st January, 1902, and shall not deprive any executor or administrator of any right or defence to which he is entitled under any existing statute of limitations.
c. 53 s. 49.]
64. This Ordinance, and every order purporting to be made under Indemnity. this Ordinance, shall be a complete indemnity to any bank and to [56 & 57 Vict. all persons for any acts done pursuant thereto; and it shall not be necessary for any bank or person to inquire concerning the propriety of the order or whether the Court had jurisdiction to make the same.
[s. 65, rep. No. 1 of 1912.]
SCHEDULE.
[s. 13.]
RULES RELATING TO THE SUMMARY ADMINISTRATION OF TRUST FUNDS.
trustee
1. Any trustee desiring to pay money to the account of, or to transfer Affidavit to or deposit shares, stock, or securities into or in the name of, the be filed by Official Trustee under the provisions of the Trustee Ordinance, 1901, relating to the summary administration of trust funds, shall file an affidavit setting forth--
(1) his own name and address;
desiring to
pay money to account of, or to deposit shares, etc.,
in name of,
(2) the place where he is to be served with any petition or any notice of any proceeding or order of the Court, or of the Judge in Chambers, Official relating to the trust fund;
Trustee.
1Page 31
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