B 8
CAP. 29]
Judicial Trustee Rules.
[1964 Ed.
[Subsidiary] Filing and inspection of accounts.
Deductions allowed.
Remuneration of judicial trustee.
15. (1) The accounts of any trust of which there is a judicial trustee, with a note of any corrections made upon the audit, shall be filed as the court directs.
(2) The judicial trustee shall send a copy of the accounts or, if the court thinks fit, of a summary of the accounts, of the trust to such beneficiaries or other persons as the court thinks proper.
(3) The court may, if it thinks fit, having regard to the nature of the relation of the applicant to the trust, allow any person applying to inspect the filed accounts so to inspect them on giving reasonable notice to the officer of the court.
16. A judicial trustee shall, unless the court otherwise directs, be allowed on the audit of his accounts deductions made on account of his remuneration and allowances under these rules and also on account of the fees paid by him under these rules, but shall not be allowed any deduction on account of the expenses of professional assistance, or his own work, or personal outlay, unless the court is satisfied that the deduction is justified by the strict necessity of the case.
Remuneration and Allowances.
17. (1) Where a judicial trustee is to be remunerated, the remuneration to be paid to him shall be fixed by the court and may be altered by the court from time to time.
(2) In fixing the remuneration, regard shall be had to the duties entailed upon the judicial trustee by the trust.
(3) The court may make, if it thinks fit, special allowances to judicial trustees for the following matters, to be paid out of the trust property-
(a) for the statement of trust property prepared by a judicial trustee on his appointment, an allowance not exceeding one hundred and seventy-five dollars;
(b) for realizing and re-investing trust property, where the property is realized for the purpose of re-investment, an allowance not exceeding one and a half per cent of the amount realized and re-invested;
(c) for realizing or investing trust property in any other case, an allowance not exceeding one per cent on the amount realized or invested.
(4) The court may also in any year make a special allowance to a judicial trustee, if satisfied that in that year more trouble has been thrown upon the trustee by reason of exceptional circumstances than would ordinarily be involved in the administration of the trust.
(5) Where a trustee is remunerated, any allowance under this rule shall be paid in addition to the remuneration.
B 8
CAP. 29]
Judicial Trustee Rules.
[1964 Ed.
[Subsidiary] Filing and inspection of accounts.
Deductions allowed.
Remuneration of judicial trustee.
15. (1) The accounts of any trust of which there is a judicial trustee, with a note of any corrections made upon the audit, shall be filed as the court directs.
(2) The judicial trustee shall send a copy of the accounts or, if the court thinks fit, of a summary of the accounts, of the trust to such beneficiaries or other persons as the court thinks proper.
(3) The court may, if it thinks fit, having regard to the nature of the relation of the applicant to the trust, allow any person apply- ing to inspect the filed accounts so to inspect them on giving reasonable notice to the officer of the court.
16. A judicial trustee shall, unless the court otherwise directs, be allowed on the audit of his accounts deductions made on account of his remuneration and allowances under these rules and also on account of the fees paid by him under these rules, but shall not be allowed any deduction on account of the expenses of professional assistance, or his own work, or personal outlay, unless the court is satisfied that the deduction is justified by the strict necessity of the case.
Remuneration and Allowances.
17. (1) Where a judicial trustee is to be remunerated, the remuneration to be paid to him shall be fixed by the court and may be altered by the court from time to time.
(2) In fixing the remuneration, regard shall be had to the duties entailed upon the judicial trustee by the trust.
(3) The court may make, if it thinks fit, special allowances to judicial trustees for the following matters, to be paid out of the trust property-
(a) for the statement of trust property prepared by a judicial trustee on his appointment, an allowance not exceeding one hundred and seventy-five dollars;
(b) for realizing and re-investing trust property, where the property is realized for the purpose of re-investment, an allowance not exceeding one and a half per cent of the amount realized and re-invested;
(c) for realizing or investing trust property in any other case, an allowance not exceeding one per cent on the amount realized or invested.
(4) The court may also in any year make a special allowance to a judicial trustee, if satisfied that in that year more trouble has been thrown upon the trustee by reason of exceptional cir- cumstances than would ordinarily be involved in the administration of the trust.
(5) Where a trustee is remunerated, any allowance under this rule shall be paid in addition to the remuneration.
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