1985 Ed.]
Trustee
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(2) Any trust moneys paid into a bank pursuant to subsection (1) which-
(a) remain unclaimed for a period of 5 years from the last making of any order of the Court in relation thereto; or
(b) if no such order shall have been made, remain unclaimed for a period of 5 years from the date of payment into the bank,
shall be transferred by the Official Trustee to the general revenue of the Colony. (Added, 71 of 1971, s. 3)
68. Trustees, or the majority of trustees, having any securities standing in their names in the books of any public company or corporation established in the Colony, or in the names of any deceased persons of whom they are personal representatives, upon any trust, shall be at liberty, on filing such affidavit as aforesaid, to transfer such securities, with such consent and in accordance with such directions as aforesaid, into the name of the Official Trustee (by his official designation) or to deposit the same in his name in such bank as aforesaid in the matter of the particular trust (describing the same as aforesaid), in trust to attend the orders of the court.
69. Trustees, or the majority of trustees, in whom any land within the Colony is or becomes vested upon any trust, shall be at liberty, on filing such affidavit as aforesaid, to convey such land, with such consent and in accordance with such directions as aforesaid, to the Official Trustee, in trust to attend the orders of the court.
70. In every such case as aforesaid, the certificate of the Official Trustee for the moneys so paid, or of the transfer or deposit of such securities, or of the conveyance of such land shall be a sufficient discharge to such trustees for the moneys so paid, or the stocks or securities so transferred or deposited, or the land so conveyed as aforesaid.
71. (1) Where any moneys or securities, or any land, are or is vested in any persons as trustees, and the majority of them are desirous of paying, transferring, depositing, or conveying the same as aforesaid, but the concurrence of the other or others cannot be obtained, the court may order the payment, transfer, deposit, or conveyance to be made by the majority without the concurrence of the other or others; and where any such moneys or securities are deposited with any banker, broker, or other depositary, the court may order payment or delivery of the moneys or securities to the majority of the trustees for the purpose of payment into court.
(2) Every payment, transfer, deposit, delivery, and conveyance made in pursuance of any such order shall be valid and take effect as if the same had been made on the authority or by the act of all the persons entitled to the moneys, securities, or land so paid, transferred, deposited, delivered, or conveyed.
Transfer of trust securities into name of Official Trustee.
1847 c. 96, s. 1.
Conveyance of land in trust to Official Trustee.
1847 c. 96, s. 1.
Certificate to be given by Official Trustee.
1847 c. 96, s. 1.
Order for payment, etc. by majority of trustees without concurrence of others.
1893 c. 53, s. 43.
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Page 41
1985 Ed.]
Trustee
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39
(2) Any trust moneys paid into a bank pursuant to subsection (1) which-~~
(a) remain unclaimed for a period of 5 years from the last
making of any order of the Court in relation thereto; or
(b) if no such order shall have been made, remain unclaimed for a period of 5 years from the date of payment into the bank,
shall be transferred by the Official Trustee to the general revenue of the Colony. (Added, 71 of 1971, s. 3)
68. Trustees, or the majority of trustees, having any securities standing in their names in the books of any public company or corporation established in the Colony, or in the names of any deceased persons of whom they are personal representatives, upon any trust, shall be at liberty, on filing such affidavit as aforesaid, to transfer such securities, with such consent and in accordance with such directions as aforesaid, into the name of the Official Trustee (by his official designation) or to deposit the same in his name in such bank as aforesaid in the matter of the particular trust (describing the same as aforesaid), in trust to attend the orders of the court.
69. Trustees, or the majority of trustees, in whom any land within the Colony is or becomes vested upon any trust, shall be at liberty, on filing such affidavit as aforesaid, to convey such land, with such consent and in accordance with such directions as afore- said, to the Official Trustee, in trust to attend the orders of the court.
70. In every such case as aforesaid, the certificate of the Official Trustee for the moneys so paid, or of the transfer or deposit of such securities, or of the conveyance of such land shall be a sufficient discharge to such trustees for the moneys so paid, or the stocks or securities so transferred or deposited, or the land so conveyed as aforesaid.
71. (1) Where any moneys or securities, or any land, are or is vested in any persons as trustees, and the majority of them are desirous of paying, transferring, depositing, or conveying the same as aforesaid, but the concurrence of the other or others cannot be obtained, the court may order the payment. transfer. deposit, or conveyance to be made by the majority without the concurrence of the other or others; and where any such moneys or securities are deposited with any banker, broker, or other depositary, the court may order payment or delivery of the moneys or securities to the majority of the trustees for the purpose of payment into court.
(2) Every payment, transfer, deposit, delivery, and conveyance made in pursuance of any such order shall be valid and take effect as if the same had been made on the authority or by the act of all the persons entitled to the moneys, securities, or land so paid, transferred, deposited, delivered, or conveyed.
Transfer of trust securities into name of Official Trustee.
1847 c. 96, s. 1.
Conveyance of land in trust to Official Trustee. 1847 c. 96. s. 1.
Certificate to be given by Official Trustee.
1847 c. 96, x. 1.
Order for payment, etc. by majority of trustees without concurrence of others.
1893 c. 53. s. 43.
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