Registrar-Generals-Department-Annual-report-1966-1967 — Page 48

PART VII

OFFICIAL TRUSTEE AND JUDICIAL TRUSTEE

Explanatory

131. The Official Trustee's functions are laid down in Part VII of the Trustee Ordinance and the Administration of Trust Fund Rules made under Section 76 of that Ordinance. The Judicial Trustee Rules, made under Section 64 of the Trustee Ordinance, provide that where an official of the Court is appointed Judicial Trustee, the Registrar General shall be so appointed unless for special reasons the Court directs that some other official of the Court be appointed.

Administration of Trusts

132. The number of trusts administered remained unchanged at seventeen.

133. The Registrar General continued to act as Judicial Trustee of one estate on behalf of which $10,042 was held at the close of the

year.

Trust Funds

134. Table XXVI sets out the Official Trustee's receipts and payments for the year, and the assets and liabilities of the trusts administered by him as at 31st March 1967. The total income of the trusts, being interest and dividends on investments, fixed deposits and bank accounts, amounted to $11,301. Payments to beneficiaries totalled $2,450 (including $336 on capital account), and the Official Trustee's commission amounted to $129. At the end of the year the total funds administered by the Official Trustee amounted to $227,539, of which $78,637 was held on income account, representing for the most part accumulations of income held pending the clarification of the position with respect to seven charitable trusts.

Belilios Stars

135. In 1884 Emanuel Raphael BELILIOS set up a trust fund with the object inter alia of rewarding acts of 'conspicuous valour, devotion or self-denial (whether a life or lives be thereby saved or not) done within the Colony of Hong Kong at a fire or in any quarrel, fight, breach of the peace or otherwise howsoever, or within the Hong Kong, Canton or Macau waters'. The trust deed provided for the award of Belilios

42