Registrar-Generals-Department-Annual-report-1957-1958 — Page 38

Explanatory

PART VIII

OFFICIAL TRUSTEE

60. The Official Trustee's functions and duties are laid down in Part VII of the Trustee Ordinance (Cap. 29) and the Administration of Trust Funds Rules made under Section 76 of that Ordinance.

Number of Trusts

61. The number of trust estates administered by the Official Trustee was reduced from thirteen to twelve by the closing of the Mahomed Trust. Under an Order of Court dated 4th May, 1957, relating to this Trust, the sum of $1,307.73 being part of the accumulated income was paid to the Official Administrator as administrator of the estate of the deceased life tenant, and the balance of the accumulated income amounting to $3,007.25 and the whole of the capital amounting to $8,469.54 were paid to Government as bona vacantia falling to the Crown.

Trust Funds

62. Table XVIII sets out the receipts and payments for the year, and the assets and liabilities as at 31st March, 1958. The Official Trustee's commission for the year amounted to $119.83. At the close of the year the total funds administered amounted to $173,990.94.

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