Trustee.
[CAP. 29
paid up in cash) may with the consent of the Governor in Council be registered as a trust company: Provided that the Governor in Council shall not give such consent unless he is satisfied that the extent and nature of the company's business in the Colony is sufficient to justify such special registration.
(2) Consent of the Governor in Council under sub-section (1) shall be notified to the Registrar of Companies who shall register the company in the register prescribed by section 79, issue to it a certificate that the company is registered as a trust company, and publish notice thereof in the Gazette for four consecutive weeks next following such issue.
(3) The provisions of sections 77, 78, 80, 81, 91, 92, 93, 96 and 100 shall not apply to such company or to such registration, but subject to such exceptions and to the provisions of the succeeding section the said company shall be invested with all the powers, privileges and immunities and shall be subject to all the liabilities imposed by this Part.
[106A
powers of
under
107. The powers of investigation conferred upon inspectors under section 95 shall in the case of a corporation registered as a trust company under section 106 be limited to the trust business of the corporation.
[106B 17 of 1939, s. 2.
off trust
company under
registered
section 106.
17 of 1939, s. 2.
108. On application made by the Attorney General the court may order that any corporation registered under the provisions of section 106 as a trust company shall be struck off the register of trust companies if it ceases to be qualified for registration under that section or if from the consideration of the report of an inspector appointed under section 95 it appears that the corporation has committed a breach of trust, and the court may appoint a new trustee, or new trustees, for any trust property held by the corporation.
[106C
PART IX.
GENERAL PROVISIONS.
109. This Ordinance, and every order purporting to be made under this Ordinance, shall be a complete indemnity. 19, s. 66.
15 Geo., 5.
521.
-xx
Trustee.
[CAP. 29
paid up in cash) may with the consent of the Governor in Council be registered as a trust company: Provided that the Governor in Council shall not give such consent unless he is satisfied that the extent and nature of the company's business in the Colony is sufficient to justify such special registration.
(2) Consent of the Governor in Council under sub- section (1) shall be notified to the Registrar of Companies who shali register the company in the register prescribed by section 79, issue to it a certificate that the company is registered as a trust company, and publish notice thereof in the Gazette for four consecutive weeks next following such issue.
(3) The provisions of sections 77, 78, 80, 81, 91, 92, 93, 96 and 100 shall not apply to such company or to such registration, but subject to such exceptions and to the pro- visions of the succeeding section the said company shall be invested with all the powers, privileges and immunities and shall be subject to all the liabilities imposed by this Part.
[106A
powers of
under
107. The powers of investigation conferred upon inspec- Limitation of tors under section 95 shall in the case of a corporation inspectors registered as a trust company under section 106 be limited section 95. to the trust business of the corporation.
[106B 17 of 1939, s. 2.
off trust
company under
registered
section 106.
17 of 1939, s. 2.
108. On application made by the Attorney General the Striking court may order that any corporation registered under the provisions of section 106 as a trust company shall be struck off the register of trust companies if it ceases to be qualified for registration under that section or if from the consideration of the report of an inspector appointed under section 95 it appears that the corporation has committed a breach of trust, and the court may appoint a new trustee, or new trustees, for any trust property held by the corporation.
[106C
PART IX.
GENERAL PRovisions.
109. This Ordinance, and every order purporting to be Indemnity. made under this Ordinance, shall be a complete indemnity e. 19, s. 66.
15 Geo., 5.
521.
-xx
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