24
CAP. 29]
Trustee
[1985 Ed.
(2) This section does not apply to trusts coming into operation before the commencement of this Ordinance, and has effect subject to any variation of the implied trusts aforesaid contained in the instrument creating the trust.
(3) Nothing in this section operates to validate any trust which would, if contained in the instrument creating the trust, be liable to be set aside.
Limitation of the number of trustees.
1925 c. 19, s. 34.
Power of appointing new or additional trustees.
1925 c. 19, s. 36.
PART IV
APPOINTMENT AND DISCHARGE OF TRUSTEES
36. (1) Where, at the commencement of this Ordinance there are more than 4 trustees of a settlement of land or more than 4 trustees holding land on trust for sale, no new trustees shall (except where as a result of the appointment the number is reduced to 4 or less) be capable of being appointed until the number is reduced to less than 4, and thereafter the number shall not be increased beyond 4.
(2) In the case of settlements and dispositions on trust for sale of land made or coming into operation after the commencement of this Ordinance-
(a) the number of trustees thereof shall not in any case exceed 4, and where more than 4 persons are named as such trustees, the 4 first named (who are able and willing to act) shall alone be the trustees, and the other persons named shall not be trustees unless appointed on the occurrence of a vacancy;
(b) the number of the trustees shall not be increased beyond 4.
(3) The restrictions hereby imposed on the number of trustees do not apply in the case of land vested in trustees for charitable, ecclesiastical, or public purposes or where the net proceeds of the sale of the property are held for like purposes.
37. (1) Where a trustee, either original or substituted, and whether appointed by a court or otherwise, is dead, or remains out of the Colony for more than 12 months, or desires to be discharged from all or any of the trusts or powers reposed in or conferred on him, or refuses or is unfit to act therein, or is incapable of acting therein, or is an infant, then, subject to the restrictions imposed by this Ordinance on the number of trustees-
(a) the person or persons nominated for the purpose of appointing new trustees by the instrument, if any, creating the trust; or
(b) if there is no such person, or no such person able and willing to act, then the surviving or continuing trustees or trustee for the time being, or the personal representatives of the last surviving or continuing trustee,
Page 25
Page 26
24
CAP. 29]
Trustee
[1985 Ed.
(2) This section does not apply to trusts coming into operation before the commencement of this Ordinance, and has effect subject to any variation of the implied trusts aforesaid contained in the instrument creating the trust.
(3) Nothing in this section operates to validate any trust which would, if contained in the instrument creating the trust, be liable to be set aside.
Limitation of
the number of trustees.
1925 c. 19, s. 34.
Power of appointing new or additional trustees.
1925 c. 19, s. 36.
PART IV
APPOINTMENT AND Discharge of TRUSTEES
36. (1) Where, at the commencement of this Ordinance there are more than 4 trustees of a settlement of land or more than 4 trustees holding land on trust for sale, no new trustees shall (except where as a result of the appointment the number is reduced to 4 or less) be capable of being appointed until the number is reduced to less than 4, and thereafter the number shall not be increased beyond 4.
(2) In the case of settlements and dispositions on trust for sale of land made or coming into operation after the commencement of this Ordinance-
(a) the number of trustees thereof shall not in any case exceed 4, and where more than 4 persons are named as such trustees, the 4 first named (who are able and willing to act) shall alone be the trustees, and the other persons named shall not be trustees unless appointed on the occurrence of
a vacancy;
(b) the number of the trustees shall not be increased beyond 4.
(3) The restrictions hereby imposed on the number of trustees do not apply in the case of land vested in trustees for charitable, ecclesiastical, or public purposes or where the net proceeds of the sale of the property are held for like purposes.
37. (1) Where a trustee, either original or substituted, and whether appointed by a court or otherwise, is dead, or remains out of the Colony for more than 12 months, or desires to be discharged from all or any of the trusts or powers reposed in or conferred on him, or refuses or is unfit to act therein, or is incapable of acting therein, or is an infant, then, subject to the restrictions imposed by this Ordinance on the number of trustees-
(a) the person or persons nominated for the purpose of appointing new trustees by the instrument, if any, creating the trust; or
(b) if there is no such person, or no such person able and willing to act, then the surviving or continuing trustees or trustee for the time being, or the personal representatives of the last surviving or continuing trustee,
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