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.
136. Section 8(2)(c) of the Supreme Court Ordinance provides that the functions and powers of the Official Solicitor in Lunacy shall be exercised by the Registrar General.
Administration of Trusts
137. The number of trusts administered was reduced from sixteen to fifteen by the closure of one trust after extensive advertisement had failed to locate any beneficiary. The balance of the trust assets in this case, amounting to $6,612, was transferred to the Official Administrator pursuant to a Court Order dated 14th February 1970.
138. The Registrar General continued to act as Judicial Trustee of one estate on behalf of which $2,500 was held at the close of the year.
Trust Funds
139. Table XXIX sets out the Official Trustee's receipts and pay- ments for the year, and the assets and liabilities of the trusts admin- istered by him as at 31st March 1970. The total income of the trusts, being interest and dividends on investments, fixed deposits and bank accounts, amounted to $14,362. Payments to beneficiaries totalled $804, and the Official Trustee's commission $287.
140. During the year the Official Trustee obtained the sanction of the Supreme Court to sell the equities in which various Belilios and Kadoorie Trust funds had been invested. These sales realized $249,759 as compared with the sum of $114,164 originally invested in equities in 1967 and the further $8,190 invested in 1968-69 in taking up rights issues. The value of the trust funds had therefore more than doubled in less than 3 years. Following on the sales $275,920 was invested in British Government Stock falling due for redemption in 1978-80. At the end of the year the total funds administered by the Official Trustee amounted to $360,673, of which $182,156 was held on income account.
Belilios Stars
141. 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
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