CAP. 29]
[s. 41 cont.]
Power of
court to
appoint new
trustees. 15 Geo. 5, c. 19, s. 41.
Power to authorize
remunera-
tion. 15 Geo. 5. c. 19, s. 42.
Trustee.
(5) For purposes of registration of the deed, the person or persons making the declaration, expressly or impliedly, shall be deemed the conveying party or parties, and the conveyance shall be deemed to be made by him or them under a power conferred by this Ordinance.
(6) This section applies to deeds of appointment or discharge executed on or after the 1st day of July, 1901.
PART V.
POWERS OF THE COURT.
Appointment of new Trustees.
42. (1) The court may, whenever it is expedient to appoint a new trustee or new trustees, and it is found inexpedient, difficult or impracticable so to do without the assistance of the court, make an order appointing a new trustee or new trustees either in substitution for or in addition to any existing trustee or trustees, or although there is no existing trustee. In particular and without prejudice to the generality of the foregoing provision, the court may make an order appointing a new trustee in substitution for a trustee who is sentenced to a term of imprisonment or is a lunatic or a person of unsound mind or is a bankrupt or is a corporation which is in liquidation or has been dissolved.
(2) An order under this section, and any consequential vesting order or conveyance, shall not operate further or otherwise as a discharge to any former or continuing trustee than an appointment of new trustees under any power for that purpose contained in any instrument would have operated.
(3) Nothing in this section gives power to appoint an executor or administrator.
43. Where the court appoints a corporation, other than the Public Trustee in England, to be a trustee either solely or jointly with another person, the court may authorize the corporation to charge such remuneration for its services as trustee as the court may think fit.
492
CAP. 29]
[s. 41 cont.]
Power of
court to
appoint new
trustees. 15 Geo. 5, c. 19, s. 41.
Power to authorize
remunera-
tion. 15 Geo. 5. c. 19, s. 42.
Trustee.
(5) For purposes of registration of the deed, the person or persons making the declaration, expressly or impliedly, shall be deemed the conveying party or parties, and the conveyance shall be deemed to be made by him or them under a power conferred by this Ordinance.
(6) This section applies to deeds of appointment or discharge executed on or after the 1st day of July, 1901.
PART V.
POWERS OF THE COURT.
Appointment of new Trustees.
42. (1) The court may, whenever it is expedient to appoint a new trustee or new trustees, and it is found in- expedient, difficult or impracticable so to do without the assistance of the court, make an order appointing a new trustee or new trustees either in substitution for or in addition to any existing trustee or trustees, or although there is no existing trustee. In particular and without prejudice to the generality of the foregoing provision, the court may make an order appointing a new trustee in substitution for a trustee who is sentenced to a term of imprisonment or is a lunatic or a person of unsound mind or is a bankrupt or is a corporation which is in liquida- tion or has been dissolved.
(2) An order under this section, and any consequential vesting order or conveyance, shall not operate further or otherwise as a discharge to any former or continuing trustee than an appointment of new trustees under any power for that purpose contained in any instrument would have operated.
(3) Nothing in this section gives power to appoint an executor or administrator.
43. Where the court appoints a corporation, other than the Public Trustee in England, to be a trustee either solely or jointly with another person, the court may authorize the corporation to charge such remuneration for its services as trustee as the court may think fit.
492
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