Trustee.
CHAPTER 29.
TRUSTEE.
To amend the law relating to trustees.
A.
This Ordinance.
[CAP. 29
18 of 1934.
17 of 1939.
[27th July, 1934.]
9 of 1950.
22 of 1950.
24 of 1950.
PART I.
PRELIMINARY.
Ordinance may be cited as the Trustee Ordinance. Short title.
2. In this Ordinance-
"authorized investments" means investments authorized by the instrument, if any, creating the trust for the investment of money subject to the trust, or by law; "contingent right" as applied to land includes a contingent or executory interest, a possibility coupled with an interest, whether the object of the gift or limitation of the interest or possibility is or is not ascertained, also a right of entry, whether immediate or future, and whether vested or contingent;
"convey" and "conveyance" as applied to any person include the execution by that person of every necessary or suitable assurance (including an assent) for conveying, assigning, appointing, surrendering, or otherwise transferring or disposing of land whereof he is seised or possessed, or wherein he is entitled to a contingent right, either for his whole estate or for any less estate, together with the performance of all formalities required by law for the validity of the conveyance; "income" includes rents and profits;
"instrument" includes enactment;
"land" includes land of any tenure, and mines and minerals, whether or not severed from the surface, buildings or parts of buildings, whether the division is horizontal, vertical or made in any other way, and other corporeal hereditaments; also a rent and other incorporeal hereditaments, and an easement, right, privilege, or benefit in, over, or derived from land, or an undivided share in land; and in this definition "mines and minerals" include any strata or seam of minerals or substances in or under the land.
Interpretation. [cf. 15 Geo. 5, c. 19, s. 68.]
461
Trustee.
CHAPTER 29.
TRUSTEE.
To amend the law relating to trustees.
A.
This
Ordinance.
[CAP. 29
18 of 1934.
17 of 1939.
[27th July, 1934.]
9 of 1950.
22 of 1950.
24 of 1950.
PART I.
PRELIMINARY.
Ordinance may be cited as the Trustee Short title.
2. In this Ordinance-
"authorized investments" means investments authorized by the instrument, if any, creating the trust for the invest- ment of money subject to the trust, or by law; "contingent right" as applied to land includes a contingent or executory interest, a possibility coupled with an interest, whether the object of the gift or limitation of the interest or possibility is or is not ascertained, also a right of entry, whether immediate or future, and whether vested or contingent;
"convey" and "conveyance" as applied to any person include the execution by that person of every necessary or suitable assurance (including an assent) for conveying, assigning, appointing, surrendering, or otherwise trans- ferring or disposing of land whereof he is seised or possessed, or wherein he is entitled to a contingent right, either for his whole estate or for any less estate, together with the performance of all formalities required by law for the validity of the conveyance; "income" includes rents and profits;
"instrument" includes enactment;
"land" includes land of any tenure, and mines and minerals, whether or not severed from the surface, buildings or parts of buildings, whether the division is horizontal, vertical or made in any other way, and other corporeal hereditaments; also a rent and other incorporeal hereditaments, and an easement, right, privilege, or benefit in, over, or derived from land, or an undivided share in land; and in this definition "mines and minerals" include any strata or seam of minerals or
Sy
461
Interpretation. [cf. 15 Geo. 5, c. 19, s. 68.]
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