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{\f76\fswiss\fcharset0\fprq2{\*\panose 00000000000000000000}Arial Rounded MT Bold;}{\f77\fswiss\fcharset128\fprq2{\*\panose 00000000000000000000}@Arial Unicode MS;}{\f78\froman\fcharset0\fprq2{\*\panose 00000000000000000000}Baskerville Old Face;}
{\f79\froman\fcharset129\fprq2{\*\panose 00000000000000000000}@Batang;}{\f80\fdecor\fcharset0\fprq2{\*\panose 00000000000000000000}Bauhaus 93;}{\f81\froman\fcharset0\fprq2{\*\panose 00000000000000000000}Bell MT;}
{\f82\fswiss\fcharset0\fprq2{\*\panose 00000000000000000000}Berlin Sans FB;}{\f83\froman\fcharset0\fprq2{\*\panose 00000000000000000000}Bernard MT Condensed;}{\f84\fdecor\fcharset0\fprq2{\*\panose 00000000000000000000}Blackadder ITC;}
{\f85\froman\fcharset0\fprq2{\*\panose 00000000000000000000}Bodoni MT;}{\f86\froman\fcharset0\fprq2{\*\panose 00000000000000000000}Bodoni MT Black;}{\f87\froman\fcharset0\fprq2{\*\panose 00000000000000000000}Bodoni MT Condensed;}
{\f88\froman\fcharset0\fprq2{\*\panose 00000000000000000000}Bodoni MT Poster Compressed;}{\f89\fscript\fcharset0\fprq2{\*\panose 00000000000000000000}Bradley Hand ITC;}{\f90\fswiss\fcharset0\fprq2{\*\panose 00000000000000000000}Britannic Bold;}
{\f91\fdecor\fcharset0\fprq2{\*\panose 00000000000000000000}Broadway;}{\f92\fscript\fcharset0\fprq2{\*\panose 00000000000000000000}Brush Script MT;}{\f93\froman\fcharset0\fprq2{\*\panose 00000000000000000000}Californian FB;}
{\f94\froman\fcharset0\fprq2{\*\panose 00000000000000000000}Calisto MT;}{\f95\froman\fcharset0\fprq2{\*\panose 00000000000000000000}Castellar;}{\f96\froman\fcharset0\fprq2{\*\panose 00000000000000000000}Centaur;}
{\f97\froman\fcharset0\fprq2{\*\panose 00000000000000000000}Century Schoolbook;}{\f98\fdecor\fcharset0\fprq2{\*\panose 00000000000000000000}Chiller;}{\f99\fdecor\fcharset0\fprq2{\*\panose 00000000000000000000}Colonna MT;}
{\f100\froman\fcharset0\fprq2{\*\panose 00000000000000000000}Cooper Black;}{\f101\fswiss\fcharset0\fprq2{\*\panose 00000000000000000000}Copperplate Gothic Bold;}{\f102\fswiss\fcharset0\fprq2{\*\panose 00000000000000000000}Copperplate Gothic Light;}
{\f103\fdecor\fcharset0\fprq2{\*\panose 00000000000000000000}Curlz MT;}{\f104\fscript\fcharset0\fprq2{\*\panose 00000000000000000000}Edwardian Script ITC;}{\f105\froman\fcharset0\fprq2{\*\panose 00000000000000000000}Elephant;}
{\f106\froman\fcharset0\fprq2{\*\panose 00000000000000000000}Engravers MT;}{\f107\fswiss\fcharset0\fprq2{\*\panose 00000000000000000000}Eras Bold ITC;}{\f108\fswiss\fcharset0\fprq2{\*\panose 00000000000000000000}Eras Demi ITC;}
{\f109\fswiss\fcharset0\fprq2{\*\panose 00000000000000000000}Eras Light ITC;}{\f110\fswiss\fcharset0\fprq2{\*\panose 00000000000000000000}Eras Medium ITC;}{\f111\fdecor\fcharset0\fprq2{\*\panose 00000000000000000000}Felix Titling;}
{\f112\froman\fcharset0\fprq2{\*\panose 00000000000000000000}Footlight MT Light;}{\f113\fscript\fcharset0\fprq2{\*\panose 00000000000000000000}Forte;}{\f114\fswiss\fcharset0\fprq2{\*\panose 00000000000000000000}Franklin Gothic Book;}
{\f115\fswiss\fcharset0\fprq2{\*\panose 00000000000000000000}Franklin Gothic Demi;}{\f116\fswiss\fcharset0\fprq2{\*\panose 00000000000000000000}Franklin Gothic Demi Cond;}{\f117\fswiss\fcharset0\fprq2{\*\panose 00000000000000000000}Franklin Gothic Heavy;}
{\f118\fswiss\fcharset0\fprq2{\*\panose 00000000000000000000}Franklin Gothic Medium Cond;}{\f119\fscript\fcharset0\fprq2{\*\panose 00000000000000000000}Freestyle Script;}{\f120\fscript\fcharset0\fprq2{\*\panose 00000000000000000000}French Script MT;}
{\f121\fdecor\fcharset0\fprq2{\*\panose 00000000000000000000}Gigi;}{\f122\fswiss\fcharset0\fprq2{\*\panose 00000000000000000000}Gill Sans MT Ext Condensed Bold;}{\f123\fswiss\fcharset0\fprq2{\*\panose 00000000000000000000}Gill Sans MT;}
{\f124\fswiss\fcharset0\fprq2{\*\panose 00000000000000000000}Gill Sans MT Condensed;}{\f125\fswiss\fcharset0\fprq2{\*\panose 00000000000000000000}Gill Sans Ultra Bold;}
{\f126\fswiss\fcharset0\fprq2{\*\panose 00000000000000000000}Gill Sans Ultra Bold Condensed;}{\f127\froman\fcharset0\fprq2{\*\panose 00000000000000000000}Gloucester MT Extra Condensed;}
{\f128\froman\fcharset0\fprq2{\*\panose 00000000000000000000}Goudy Old Style;}{\f129\froman\fcharset0\fprq2{\*\panose 00000000000000000000}Goudy Stout;}{\f130\fdecor\fcharset0\fprq2{\*\panose 00000000000000000000}Harlow Solid Italic;}
{\f131\fdecor\fcharset0\fprq2{\*\panose 00000000000000000000}Harrington;}{\f132\froman\fcharset0\fprq2{\*\panose 00000000000000000000}High Tower Text;}{\f133\fdecor\fcharset0\fprq2{\*\panose 00000000000000000000}Imprint MT Shadow;}
{\f134\fdecor\fcharset0\fprq2{\*\panose 00000000000000000000}Jokerman;}{\f135\fdecor\fcharset0\fprq2{\*\panose 00000000000000000000}Juice ITC;}{\f136\fscript\fcharset0\fprq2{\*\panose 00000000000000000000}Kristen ITC;}
{\f137\fscript\fcharset0\fprq2{\*\panose 00000000000000000000}Kunstler Script;}{\f138\froman\fcharset0\fprq2{\*\panose 00000000000000000000}Lucida Bright;}{\f139\fscript\fcharset0\fprq2{\*\panose 00000000000000000000}Lucida Calligraphy;}
{\f140\froman\fcharset0\fprq2{\*\panose 00000000000000000000}Lucida Fax;}{\f141\fscript\fcharset0\fprq2{\*\panose 00000000000000000000}Lucida Handwriting;}{\f142\fswiss\fcharset0\fprq2{\*\panose 00000000000000000000}Lucida Sans;}
{\f143\fmodern\fcharset0\fprq1{\*\panose 00000000000000000000}Lucida Sans Typewriter;}{\f144\fmodern\fcharset128\fprq1{\*\panose 00000000000000000000}@MS Mincho;}{\f145\fdecor\fcharset0\fprq2{\*\panose 00000000000000000000}Magneto;}
{\f146\fswiss\fcharset0\fprq2{\*\panose 00000000000000000000}Maiandra GD;}{\f147\fscript\fcharset0\fprq2{\*\panose 00000000000000000000}Matura MT Script Capitals;}{\f148\fscript\fcharset0\fprq2{\*\panose 00000000000000000000}Mistral;}
{\f149\froman\fcharset0\fprq2{\*\panose 00000000000000000000}Modern No. 20;}{\f150\fdecor\fcharset0\fprq2{\*\panose 00000000000000000000}Niagara Engraved;}{\f151\fdecor\fcharset0\fprq2{\*\panose 00000000000000000000}Niagara Solid;}
{\f152\fmodern\fcharset0\fprq2{\*\panose 00000000000000000000}OCR A Extended;}{\f153\fscript\fcharset0\fprq2{\*\panose 00000000000000000000}Old English Text MT;}{\f154\fdecor\fcharset0\fprq2{\*\panose 00000000000000000000}Onyx;}
{\f155\fscript\fcharset0\fprq2{\*\panose 00000000000000000000}Palace Script MT;}{\f156\fscript\fcharset0\fprq2{\*\panose 00000000000000000000}Papyrus;}{\f157\fscript\fcharset0\fprq2{\*\panose 00000000000000000000}Parchment;}
{\f158\froman\fcharset0\fprq2{\*\panose 00000000000000000000}Perpetua;}{\f159\froman\fcharset0\fprq2{\*\panose 00000000000000000000}Perpetua Titling MT;}{\f160\fdecor\fcharset0\fprq2{\*\panose 00000000000000000000}Playbill;}
{\f161\froman\fcharset0\fprq2{\*\panose 00000000000000000000}Poor Richard;}{\f162\fscript\fcharset0\fprq2{\*\panose 00000000000000000000}Pristina;}{\f163\fscript\fcharset0\fprq2{\*\panose 00000000000000000000}Rage Italic;}
{\f164\fdecor\fcharset0\fprq2{\*\panose 00000000000000000000}Ravie;}{\f165\froman\fcharset0\fprq2{\*\panose 00000000000000000000}Rockwell;}{\f166\froman\fcharset0\fprq2{\*\panose 00000000000000000000}Rockwell Condensed;}
{\f167\froman\fcharset0\fprq2{\*\panose 00000000000000000000}Rockwell Extra Bold;}{\f168\fscript\fcharset0\fprq2{\*\panose 00000000000000000000}Informal Roman;}{\f169\fscript\fcharset0\fprq2{\*\panose 00000000000000000000}Script MT Bold;}
{\f170\fdecor\fcharset0\fprq2{\*\panose 00000000000000000000}Showcard Gothic;}{\f171\fnil\fcharset134\fprq2{\*\panose 00000000000000000000}@SimSun;}{\f172\fdecor\fcharset0\fprq2{\*\panose 00000000000000000000}Snap ITC;}
{\f173\fdecor\fcharset0\fprq2{\*\panose 00000000000000000000}Stencil;}{\f174\fswiss\fcharset0\fprq2{\*\panose 00000000000000000000}Tw Cen MT;}{\f175\fswiss\fcharset0\fprq2{\*\panose 00000000000000000000}Tw Cen MT Condensed;}
{\f176\fdecor\fcharset0\fprq2{\*\panose 00000000000000000000}Tempus Sans ITC;}{\f177\fscript\fcharset0\fprq2{\*\panose 00000000000000000000}Viner Hand ITC;}{\f178\fscript\fcharset0\fprq2{\*\panose 00000000000000000000}Vivaldi;}
{\f179\fscript\fcharset0\fprq2{\*\panose 00000000000000000000}Vladimir Script;}{\f180\froman\fcharset0\fprq2{\*\panose 00000000000000000000}Wide Latin;}{\f181\fswiss\fcharset0\fprq2{\*\panose 00000000000000000000}Berlin Sans FB Demi;}
{\f182\fswiss\fcharset0\fprq2{\*\panose 00000000000000000000}Tw Cen MT Condensed Extra Bold;}{\f183\froman\fcharset0\fprq0{\*\panose 00000000000000000000}Palatino-Bold;}{\f184\fnil\fcharset0\fprq0{\*\panose 00000000000000000000}Palatino-Roman;}
{\f185\froman\fcharset0\fprq0{\*\panose 00000000000000000000}Palatino-Italic;}{\f186\froman\fcharset0\fprq0{\*\panose 00000000000000000000}Palatino-BoldItalic;}
{\f187\fswiss\fcharset163\fprq2{\*\panose 00000000000000000000}Microsoft Sans Serif (Vietnames;}{\f188\fswiss\fcharset186\fprq2{\*\panose 00000000000000000000}Franklin Gothic Demi Cond Balti;}
{\f189\fswiss\fcharset161\fprq2{\*\panose 00000000000000000000}Franklin Gothic Medium Cond Gre;}{\f190\fswiss\fcharset186\fprq2{\*\panose 00000000000000000000}Franklin Gothic Medium Cond Bal;}
{\f191\fswiss\fcharset238\fprq2{\*\panose 00000000000000000000}Gill Sans Ultra Bold Condensed ;}{\f192\fswiss\fcharset238\fprq2{\*\panose 00000000000000000000}Tw Cen MT Condensed Extra Bold ;}
{\f193\fmodern\fcharset0\fprq1{\*\panose 00000000000000000000}MS Mincho Western{\*\falt ?l?r ??\'81fc};}{\f194\fmodern\fcharset238\fprq1{\*\panose 00000000000000000000}MS Mincho CE{\*\falt ?l?r ??\'81fc};}
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{\f217\fswiss\fcharset186\fprq2{\*\panose 00000000000000000000}Arial Unicode MS Baltic;}{\f218\fswiss\fcharset163\fprq2{\*\panose 00000000000000000000}Arial Unicode MS (Vietnamese);}
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{\f221\fswiss\fcharset238\fprq2{\*\panose 00000000000000000000}@Arial Unicode MS CE;}{\f222\fswiss\fcharset204\fprq2{\*\panose 00000000000000000000}@Arial Unicode MS Cyr;}
{\f223\fswiss\fcharset161\fprq2{\*\panose 00000000000000000000}@Arial Unicode MS Greek;}{\f224\fswiss\fcharset162\fprq2{\*\panose 00000000000000000000}@Arial Unicode MS Tur;}
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{\f238\froman\fcharset161\fprq2{\*\panose 00000000000000000000}Century Schoolbook Greek;}{\f239\froman\fcharset162\fprq2{\*\panose 00000000000000000000}Century Schoolbook Tur;}
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{\f242\fswiss\fcharset204\fprq2{\*\panose 00000000000000000000}Franklin Gothic Book Cyr;}{\f243\fswiss\fcharset161\fprq2{\*\panose 00000000000000000000}Franklin Gothic Book Greek;}
{\f244\fswiss\fcharset162\fprq2{\*\panose 00000000000000000000}Franklin Gothic Book Tur;}{\f245\fswiss\fcharset186\fprq2{\*\panose 00000000000000000000}Franklin Gothic Book Baltic;}
{\f246\fswiss\fcharset238\fprq2{\*\panose 00000000000000000000}Franklin Gothic Demi CE;}{\f247\fswiss\fcharset204\fprq2{\*\panose 00000000000000000000}Franklin Gothic Demi Cyr;}
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\par 15 Miscellaneous powers
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\par 23 Devolution of powers or trusts
\par 24 Power to insure
\par 25 Application of insurance money where}{\f0\insrsid15419608  }{\f0\insrsid8539656\charrsid15419608 policy kept up under any trust, power or}{\f0\insrsid15419608  }{\f0\insrsid8539656\charrsid15419608 obligation
\par 26 Deposit of documents for safe custody
\par 27 Reversionary interests
\par 28 Valuations
\par 29 Power to employ agents
\par 30 Power to concur with others
\par 31 Power to delegate trusts
\par 32 Power to carry on business
\par 33 Power to convert business into a company
\par 33A Trustee may sue himself in a different}{\f0\insrsid10242844  }{\f0\insrsid8539656\charrsid15419608 capacity}{\f0\insrsid15419608  }{\i\f0\insrsid8539656\charrsid15419608 Indemnities}{\f0\insrsid8539656\charrsid10242844 
\par }{\f0\insrsid8539656\charrsid15419608 34 Protection against liability in respect of}{\f0\insrsid15419608  }{\f0\insrsid8539656\charrsid15419608 rents and covenants
\par 34A Lien on policy money for premiums
\par 35 Protection against creditors
\par 36 Protection in regard to notice
\par 37 Exoneration of trustees in respect of certain}{\f0\insrsid15419608  }{\f0\insrsid8539656\charrsid15419608 powers of attorney
\par 38 Implied indemnity of trustees
\par 39 Protection of trustee who pays trust money}{\f0\insrsid15419608  }{\f0\insrsid8539656\charrsid15419608 to bankrupt
\par 39AProtection of trustee in handing over}{\f0\insrsid15419608  }{\f0\insrsid8539656\charrsid15419608 chattels to life tenant
\par 39B Protection of trustee in handing over}{\f0\insrsid15419608  }{\f0\insrsid8539656\charrsid15419608 chattels to infant
\par }{\i\f0\insrsid15419608 
\par }{\i\f0\insrsid8539656\charrsid15419608 Maintenance, Advancement and Protective Trusts}{\i\f0\insrsid8539656 
\par }{\i\f0\insrsid15419608\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 40 Power to apply income for maintenance
\par 41 Power to apply capital for maintenance
\par 41A Conditional advances for maintenance
\par 42 Protective trusts}{\f0\insrsid8539656 
\par }{\f0\insrsid15419608\charrsid15419608 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\b\f0\insrsid8539656\charrsid15419608 PART 4
\par APPOINTMENT AND DISCHARGE OF TRUSTEES
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid15419608\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 43 Power of appointing new trustees
\par 44 Evidence as to a vacancy in a trust
\par 45 Retirement of trustee
\par 46 Discharge of trustee
\par 47 Vesting of trust property in new or}{\f0\insrsid15419608  }{\f0\insrsid8539656\charrsid15419608 continuing trustees
\par 48 Corporations acting as trustees
\par 49 Advisory trustees
\par 50 Custodian trustees}{\f0\insrsid8539656 
\par }{\f0\insrsid15419608\charrsid15419608 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\b\f0\insrsid8539656\charrsid15419608 PART 5
\par POWERS OF THE COURT
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid15419608\charrsid15419608 
\par }{\i\f0\insrsid8539656\charrsid15419608 Appointment of New Trustees}{\i\f0\insrsid8539656 
\par }{\i\f0\insrsid15419608\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 51 Power of Court to appoint new trustees
\par }{\i\f0\insrsid15419608 
\par }{\i\f0\insrsid8539656\charrsid15419608 Vesting Orders}{\i\f0\insrsid8539656 
\par }{\i\f0\insrsid15419608\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 52 Vesting orders of land}{\f0\insrsid8539656 
\par }{\f0\insrsid8539656\charrsid15419608 53 Contingent rights of unborn persons
\par 54 Vesting order in place of conveyance by}{\f0\insrsid15419608  }{\f0\insrsid8539656\charrsid15419608 infant mortgagee
\par 55 Vesting order consequential on order for}{\f0\insrsid15419608  }{\f0\insrsid8539656\charrsid15419608 sale or mortgage of land
\par 56 Vesting order consequential on judgment}{\f0\insrsid15419608  }{\f0\insrsid8539656\charrsid15419608 for specific performance
\par 57 Effect of vesting order
\par 58 Power to appoint person to convey
\par 59 Vesting orders as to stock and things in}{\f0\insrsid15419608  }{\f0\insrsid8539656\charrsid15419608 action
\par 60 Vesting orders in respect of shares in ships}{\f0\insrsid15419608  }{\f0\insrsid8539656\charrsid15419608 and industrial property
\par 61 Vesting orders of charity property
\par 62 Orders made upon certain allegations to be}{\f0\insrsid15419608  }{\f0\insrsid8539656\charrsid15419608 conclusive evidence
\par 63 [Repealed]}{\f0\insrsid8539656 
\par }{\f0\insrsid15419608\charrsid15419608 
\par }{\i\f0\insrsid8539656\charrsid15419608 Jurisdictions to Make Other Orders}{\i\f0\insrsid8539656 
\par }{\i\f0\insrsid15419608\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 64 Power of Court to authorise dealings with}{\f0\insrsid15419608  }{\f0\insrsid8539656\charrsid15419608 trust property and variations of trust
\par 64A Powers of Court to authorise variations
\par 65 [Repealed]
\par 66 Right of trustee to apply to Court for}{\f0\insrsid15419608  }{\f0\insrsid8539656\charrsid15419608 directions
\par 67 Persons entitled to apply to Court
\par 68 Applications to Court to review acts and}{\f0\insrsid15419608  }{\f0\insrsid8539656\charrsid15419608 decisions of trustee
\par 69 Protection of trustee while acting under}{\f0\insrsid15419608  }{\f0\insrsid8539656\charrsid15419608 direction of Court
\par 70 Powers of Court to give judgment in}{\f0\insrsid15419608  }{\f0\insrsid8539656\charrsid15419608 absence of a trustee
\par 71 Power of Court to charge costs
\par 72 Commission
\par 73 Power to relieve trustee from personal}{\f0\insrsid15419608  }{\f0\insrsid8539656\charrsid15419608 liability
\par 74 Power to make beneficiary indemnify for}{\f0\insrsid15419608  }{\f0\insrsid8539656\charrsid15419608 breach of trust
\par 75 Barring of claims
\par 76 Distribution of shares of missing}{\f0\insrsid15419608  }{\f0\insrsid8539656\charrsid15419608 beneficiaries
\par 76A Service of notices under sections 75 and 76
\par }{\i\f0\insrsid15419608 
\par }{\i\f0\insrsid8539656\charrsid15419608 Payment to Crown}{\i\f0\insrsid8539656 
\par }{\i\f0\insrsid15419608\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 77 Payment by trustees to Crown
\par 78 Disposal of funds paid to Crown
\par 79 Orders in respect of funds paid to Crown}{\f0\insrsid8539656 
\par }{\f0\insrsid15419608\charrsid15419608 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\b\f0\insrsid8539656\charrsid15419608 PART 6
\par GENERAL PROVISIONS
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid15419608\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 80 Indemnity to banks and others
\par 81 Operation on bank account of trustees
\par 82 [Repealed]
\par 83 Special rules as to apportionment
\par 83A Examination of accounts of trust }{\f0\insrsid10292966\charrsid15419608 estates administered}{\f0\insrsid8539656\charrsid15419608  by trustee corporations
\par 83B Audit of other trust estates
\par 84 Costs and testamentary expenses to be}{\f0\insrsid15419608  }{\f0\insrsid8539656\charrsid15419608 payable out of capital of settled residuary}{\f0\insrsid15419608  }{\f0\insrsid8539656\charrsid15419608 estate of deceased
\par 85 Application of income of settled property}{\f0\insrsid15419608  }{\f0\insrsid8539656\charrsid15419608 pending conversion
\par 86 Fees and commission deemed a}{\f0\insrsid15419608  }{\f0\insrsid8539656\charrsid15419608 testamentary expense
\par 87 Costs of inquiring regarding beneficiaries
\par 88 Life tenant to have powers of a trustee in}{\f0\insrsid15419608  }{\f0\insrsid8539656\charrsid15419608 certain cases
\par 89 [Spent]
\par 90 Regulations}{\f0\insrsid8539656 
\par }{\f0\insrsid15419608\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 To consolidate and amend the law relating to trusts and trustees
\par }{\b\f0\insrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 1 Short title}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid15419608\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 This is the Trustee Act 1956.}{\f0\insrsid8539656 
\par }{\f0\insrsid15419608\charrsid15419608 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\b\f0\insrsid8539656\charrsid15419608 PART 1
\par PRELIMINARY
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid15419608\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 2 Interpretation and application}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid15419608\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (1) In this Act \endash }{\f0\insrsid8539656 
\par }{\f0\insrsid15419608\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 authorised investments}{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 
 means investments authorised for the investment}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 of money subject to the trust by the instrument, if any, creating the}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
trust or by this Act or any other Act;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\f0\insrsid9662913 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 Bank}{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608  means a bank licensed under the Banking Act 1986;

\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\f0\insrsid9662913 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 benefit}{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 
, in relation to any person, includes insurance on the life of that}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 person;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\f0\insrsid9662913 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 contingent right}{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 
 as applied to land includes a contingent or executory}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 interest, a possibility coupled with an interest, whether the object of}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
the gift or limitations of the interest or possibility is or is not ascertained,
\par also a right of entry, whether immediate or future, and whether vested}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 or contingent;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\f0\insrsid9662913 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 conveyance}{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 
, as applied to any person, includes the execution by that}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 person of every necessary or suitable assurance for conveying,}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
transferring, assigning, appointment, surrendering, or otherwise}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 disposing of land whereof he is seized or possessed, or wherein he is}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
entitled to a contingent right, either for his whole estate, or for any less}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 estate, together with the performance of all formalities required by law}{\f0\insrsid9662913  }{
\f0\insrsid8539656\charrsid15419608 for the validity of the conveyance;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\f0\insrsid9662913 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 income}{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 
 includes rents and profits other than profits which under any}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 rule of law are in the nature of capital;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\f0\insrsid9662913 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 instrument}{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608  includes an Act;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\f0\insrsid9662913 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 land}{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 
 includes land of any tenure, and mines and minerals, whether or}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 not severed from the surface, buildings or parts of buildings, whether}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
the division is horizontal, vertical, or made in any other way, and any}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 other corporeal hereditament; and also includes a rent and other}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
incorporeal hereditaments, and an easement, right, privilege, share,}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 interest, or benefit in, over, or derived from land; and in this definition
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\f0\insrsid9662913 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 mines and minerals}{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 
 includes any strata or seams of minerals or}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 substances in or under any land, and powers of working and getting}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
the same; and in this definition }{\f0\insrsid9662913 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\f0\insrsid9662913 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 hereditaments}{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608  means real property}{\f0\insrsid9662913  }{
\f0\insrsid8539656\charrsid15419608 which under an intestacy might at common law have devolved on an}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 heir;}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\f0\insrsid9662913\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 lease}{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608  includes a bailment;}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\f0\insrsid9662913\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 mortgagee}{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608  include
s every person having an estate or interest regarded}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 at law or in equity as merely a security for money; and also includes}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
every person deriving title to the mortgage under the original}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 mortgagee;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\f0\insrsid9662913 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 payment}{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 , in relation to stocks and securities, includes 
the deposit or}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 transfer of the same;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\f0\insrsid9662913 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 personal representative}{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 
 means the executor, original or by representation,}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 or an administrator for the time being of a deceased person;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\f0\insrsid9662913 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 possession}{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 
 includes receipt of income or the right to receive the same, if}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 any; and }{\f0\insrsid9662913 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\f0\insrsid9662913 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 possessed}{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608  applies to receipt of income of and to any vested
}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 estate less than a life interest, at law or in equity, in possession or in}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 expectancy in any land;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\f0\insrsid9662913 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 property}{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 
 includes real and personal property, and any estate, share, and}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 interest in any property, real or personal, and any debt, and any thing}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
in action, and any other right or interest, whether in possession or not;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\f0\insrsid9662913 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 registrar}{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 
 means the Registrar of the Court for the district in which any}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 proceeding is taken or anything is done under this Act, and includes a}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
Deputy Registrar where there is no Registrar, or in any case where the}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 Deputy may lawfully act for and on behalf of the Registrar;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\f0\insrsid9662913 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 rent}{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608  includes a rent service or a }{
\f0\insrsid10292966\charrsid15419608 rent charge}{\f0\insrsid8539656\charrsid15419608 , or other rent, toll, duty, royalty,}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 or annual or periodical payment in money or money\rquote 
s worth reserved}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 or issuing out of or charged upon land, but does not include mortgage}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 interest;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\f0\insrsid9662913 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 right}{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608  includes an estate or interest;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\f0\insrsid9662913 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 sale}{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608  includes an exchange;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\f0\insrsid9662913 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 securities}{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608  includes stock, funds, and shares; and }{
\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 securities payable to}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 bearer}{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 
 includes securities transferable by delivery or by delivery and}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 endorsement;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\f0\insrsid9662913 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 stock}{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 
 includes Government securities, and shares; and, so far as relates}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 to vesting orders made by the Court under this Act, includes any fund,}{\f0\insrsid9662913  }{
\f0\insrsid8539656\charrsid15419608 money, annuity, or security transferable in books kept by any}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 corporation or society, or by instrument of transfer either alone or}{\f0\insrsid9662913  }{
\f0\insrsid8539656\charrsid15419608 accompanied by other formalities, and any share or interest in it;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\f0\insrsid9662913 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 transfer}{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 
, in relation to stock or securities, includes the performance and}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 execution of every deed, power of attorney, act, and thing on the part}{\f0\insrsid9662913  }{
\f0\insrsid8539656\charrsid15419608 of the transferor to effect and complete the title in the transferee;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\f0\insrsid9662913 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 trust}{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608  does not include the duties incidental 
to an estate conveyed by}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 way of mortgage, but with this exception it extends to implied and}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
constructive trusts, and to cases where the trustee has a beneficial}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 interest in the trust property, and to the duties incidental to the office of}{\f0\insrsid9662913  }{
\f0\insrsid8539656\charrsid15419608 an administrator within the meaning of the Administration Act 1952;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\f0\insrsid9662913 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 trust for sale}{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 
, in relation to land, means an immediate binding trust for}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 sale, whether or not exercisable at the request or with the consent of}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
any person, and with or without power at discretion to postpone the}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 sale;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\f0\insrsid9662913 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 trustee for sale}{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 
 means the person (including a personal representative)}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 holding land on trust for sale.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid9662913 
\par }{\f0\insrsid8539656\charrsid15419608 (2) For the purposes of this Act a person shall be deemed to be under a}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 disability while he is not of full age or full mental capacity.
\par }{\f0\insrsid9662913 
\par }{\f0\insrsid8539656\charrsid15419608 (3) This Act, except where otherwise expressly provided, applies to trusts}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 constituted or created either before or after the commencement of this Act.
\par }{\f0\insrsid9662913 
\par }{\f0\insrsid8539656\charrsid15419608 (4) The powers conferred by or under this Act on a trustee who is not a}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 corporation are in addition to the powers given by any other Act and by the}{
\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 instrument, if any, creating the trust; but the powers conferred on the trustee by}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
this Act, unless otherwise stated, apply if and so far only as a contrary intention is}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 not expressed in the instrument, if any, creating the trust, and have effect subject}{\f0\insrsid9662913  }{
\f0\insrsid8539656\charrsid15419608 to the terms of that instrument.
\par }{\f0\insrsid9662913 
\par }{\f0\insrsid8539656\charrsid15419608 (5) The powers conferred by or under this Act on a trustee that is a}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 corporation are in addition to the powers given by the instrument, if any, creating}{
\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 the trust and to the powers given by or under the Act or any instrument by or}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
under which the corporation is constituted and any other Act; but the powers}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 conferred on the trustee by this Act, unless otherwise stated \endash 
\par }{\f0\insrsid9662913 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid8539656\charrsid15419608 (a) Apply if and so far only as a contrary intention is not expressed in}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
the instrument, if any, creating the trust, and have effect subject }{\f0\insrsid10292966\charrsid15419608 to the}{\f0\insrsid8539656\charrsid15419608  terms of that instrument;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\f0\insrsid9662913 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid9662913 (b)
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid9662913 
\par }\pard \ql \li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid9662913 {\f0\insrsid8539656\charrsid15419608 (i) Apply if and so far only as a contrary intention is not expressed}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
in the Act or any instrument by or under which the corporation}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 is co}{\f0\insrsid9662913 nstituted and any other Act and }{\f0\insrsid8539656\charrsid15419608 have effect subject to the}{
\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 terms of every such Act and instrument;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\f0\insrsid9662913 
\par }\pard \ql \li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid9662913 {\f0\insrsid8539656\charrsid15419608 (ii) Nothing in this paragraph shall affect any Act which applies to}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
all trustees, whether corporations or not.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\b\f0\insrsid9662913 
\par }{\b\f0\insrsid8539656\charrsid15419608 3 Act to bind Crown}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid9662913\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 This Act shall bind the Crown.
\par }{\i\f0\insrsid9662913 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\b\f0\insrsid8539656\charrsid9662913 PART 2
\par INVESTMENTS
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid9662913\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 4 Power to invest}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid9662913\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (1) A trustee may invest any trust funds, whether at the time in a state of}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 investment or not, in any property.
\par }{\f0\insrsid9662913 
\par }{\f0\insrsid8539656\charrsid15419608 (2) Subject to subsections (3) and (4), a trustee exercising any power of}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 investment shall exercise the care, diligence, and skill that a prudent person of}{
\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 business would exercise in managing the affairs of others.
\par }{\f0\insrsid9662913 
\par }{\f0\insrsid8539656\charrsid15419608 (3) Subject to subsection (4), where a trustee\rquote s profession, employment, or}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
business is or includes acting as a trustee or investing money on behalf of others,}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 the trustee, in exercising any power of investment, shall exercise the care, diligence,}{\f0\insrsid9662913  }{
\f0\insrsid8539656\charrsid15419608 and skill that a prudent person engaged in that profession, employment, or business}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 would exercise in managing the affairs of others.
\par }{\f0\insrsid9662913 
\par }{\f0\insrsid8539656\charrsid15419608 (4) The duty imposed on a trustee by subsection (2) or (3) shall apply to a}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
trustee if and so far only as a contrary intention is not expressed in the instrument,}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 if any, creating the trust or any Act, and shall have effect subject to the terms of}{\f0\insrsid9662913  }{
\f0\insrsid8539656\charrsid15419608 that instrument or Act.}{\f0\insrsid8539656 
\par }{\f0\insrsid9662913\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 5-13 }{\f0\insrsid8539656\charrsid15419608 [Repealed by 2004/270]}{\f0\insrsid8539656 
\par }{\f0\insrsid9662913\charrsid15419608 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\b\f0\insrsid8539656\charrsid9662913 PART 3
\par GENERAL POWERS AND INDEMNITIES OF TRUSTEES
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid9662913\charrsid15419608 
\par }{\i\f0\insrsid8539656\charrsid15419608 General Powers}{\i\f0\insrsid8539656 
\par }{\i\f0\insrsid9662913\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 14 Powers to sell, exchange, partition, postpone, lease, purchase}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid9662913\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (1) Subject to this section, every trustee may exercise the following powers}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 in respect of any property for the time being vested in him \endash 
\par }{\f0\insrsid9662913 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid8539656\charrsid15419608 (a) Sell the property;}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\f0\insrsid9662913\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid8539656\charrsid15419608 (b) Dispose of the property by way of exchange for other property in}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
Niue of a like nature and a like or better tenure, or, where the}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 property vested in him consists of an undivided share, concur in}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
the partition of the property in which the share is held, and give or}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 take any property by way of equality of exchange or partition;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\f0\insrsid9662913 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid8539656\charrsid15419608 (c) Postpone the sale, calling in, and conversion of the property, whether}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
or not it is of a wasting, speculative or reversionary nature:
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\f0\insrsid9662913 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid8539656\charrsid15419608 Provided that nothing in this paragraph shall permit a trustee }{\f0\insrsid10292966\charrsid15419608 to postpone}{
\f0\insrsid8539656\charrsid15419608  the sale, calling in, or conversion of any property of a}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 wasting or speculative nature for longer than is reasonably}{\f0\insrsid9662913  }{
\f0\insrsid8539656\charrsid15419608 necessary to permit its prudent realisation;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\f0\insrsid9662913 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid8539656\charrsid15419608 (d) Let or sublet the property at a reasonable rent for any term not}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 exceedi
ng one year, or from year to year, or for a weekly, monthly,}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 or other like tenancy, or at will;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\f0\insrsid9662913 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid8539656\charrsid15419608 (e) Grant a lease or sublease of the property for any term not exceeding}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
21 years to take effect in possession within one year next after the}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 date of the grant of the lease or sublease at a reasonable rent, with}{\f0\insrsid9662913  }{
\f0\insrsid8539656\charrsid15419608 or without a fine, premium or }{\f0\insrsid10292966\charrsid15419608 fore gift}{\f0\insrsid8539656\charrsid15419608 :
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\f0\insrsid9662913 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid8539656\charrsid15419608 Provided that where a fine, premium or }{\f0\insrsid10292966\charrsid15419608 fore gift}{\f0\insrsid8539656\charrsid15419608 
 is taken, the amount}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 of it shall be deemed to be part of and an accretion to the rental,}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 and shall, as between t
he persons beneficially entitled to the rental,}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 be considered as accruing from day to day and be apportioned over}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
the term of the lease or sublease;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\f0\insrsid9662913 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid8539656\charrsid15419608 (f) At any time during the currency of a lease of the property, reduce}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
the rent or otherwise vary or modify the terms of it;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\f0\insrsid9662913 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid8539656\charrsid15419608 (g) In the case of property subject to a lease, grant to a sublessee (with}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
the consent of the lessee) a lease direct from the trustee of the whole}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 or any part of the land comprised in the original lease for the residue}{\f0\insrsid9662913  }{
\f0\insrsid8539656\charrsid15419608 of the original term.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid9662913 
\par }{\f0\insrsid8539656\charrsid15419608 (2) Any trustee may purchase land in Niue in any of the following cases \endash 
\par }{\f0\insrsid9662913 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid8539656\charrsid15419608 (a) If the land being purchased adjoins other land which the trustee}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
has power to retain and which is held by the trustee on the same}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 trusts as the money expended in respect of the purchase of the land,}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
and the amount so expended does not exceed $2000;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\f0\insrsid9662913 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid8539656\charrsid15419608 (b) If the land being purchased has a }{\f0\insrsid10292966\charrsid15419608 dwelling house}{\f0\insrsid8539656\charrsid15419608 
 on it and is required}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 exclusively or principally as a home for the person entitled to the}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 income of the money being expended
 in respect of the purchase.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid9662913 
\par }{\f0\insrsid8539656\charrsid15419608 (2A) Any trustee may erect a }{\f0\insrsid10292966\charrsid15419608 dwelling house}{\f0\insrsid8539656\charrsid15419608  on land that is subject to the}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
same trusts as the money being expended in respect of the erection, or may}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 purchase land in Niue and erect a }{\f0\insrsid10292966\charrsid15419608 dwelling house}{
\f0\insrsid8539656\charrsid15419608  on it, if the }{\f0\insrsid10292966\charrsid15419608 dwelling house}{\f0\insrsid8539656\charrsid15419608  and}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
land are required exclusively or principally as a home for the person entitled to}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 the income of the money being expended in respect of the erection or the purchase}{\f0\insrsid9662913  }{
\f0\insrsid8539656\charrsid15419608 and erection, as the case may be.
\par }{\f0\insrsid9662913 
\par }{\f0\insrsid8539656\charrsid15419608 (2B) In any case where a trustee is authorised by or under this Act or any}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 other enactment, or by the instrument creating the trust, to provide or acquire a}{
\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 home for any person, he shall have power, in addition to any authority so}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 conferred \endash 
\par }{\f0\insrsid9662913 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid8539656\charrsid15419608 (a) To acquire a flat or apartment or the right to occupy a flat or}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
apartment by any means which he may consider appropriate}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 (whether by acquiring shares in a limited liability company or an}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
undivided share or interest in the land on which the premises are}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 erected or in any other way); and
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\f0\insrsid9662913 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid8539656\charrsid15419608 (b) To enter into any lease, licence, agreement, or other arrangement}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
under which he or his nominee or the beneficiary who is to occupy}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 the flat or apartment has the right to occupy it (including an}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
arrangement whereby any shares in a limited liability company and}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 the benefit of any such lease, licence, or agreement may be held by}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
that beneficiary or by some other nominee or the trustee upon trust}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 for him).
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid9662913 
\par }{\f0\insrsid8539656\charrsid15419608 (3) Any trustee may accept or concur or join with any other person in}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 accepting a lease or sublease of any property on such terms and subject to such}{
\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 covenants and conditions as he thinks fit; and may surrender or concur or join}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 with any other person in su
rrendering any lease or sublease; and, if lessor or}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 sublessor, may accept or concur or join in with any other person in the acceptance}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
of the surrender of any lease or sublease.
\par }{\f0\insrsid9662913 
\par }{\f0\insrsid8539656\charrsid15419608 (4) Any trustee may, on such conditions as he thinks proper, rescind or}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 cancel or modify or vary any contract or agreement for the sale and purchase of}{
\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 any land, or agree to do so, or compromise with or make allowances to any person}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
with whom such contract or agreement has been made, or who is the assignee of}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 it in respect of any unpaid purchase money secured on mortgage or otherwise.
\par }{\f0\insrsid9662913 
\par }{\f0\insrsid8539656\charrsid15419608 (5) In exercising any power of leasing or subleasing conferred by this section}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 or by the instrument (if any) creating the trust, a trustee may \endash 
\par }{\f0\insrsid9662913 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid8539656\charrsid15419608 (a) Grant to the lessee or sublessee a right of renewal for one or more}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
terms at a rent to be fixed or made ascertainable in a manner}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 specified in the original lease or the original sublease, but so that}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
the aggregate duration of the original and of the renewed terms}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 shall not exceed the maximum single term that could be granted in}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
exercise of the power;}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\i\f0\insrsid9662913 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid8539656\charrsid15419608 (b) Subject to this section, grant a lease with an optional or compulsory}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
purchasing clause:}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\f0\insrsid9662913\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid8539656\charrsid15419608 Provided that this power shall not apply to the exercise of any power}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
of sale conferred by any mortgage unless the mortgage confers}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 authority to do so;}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid9662913 {\f0\insrsid9662913\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid9662913 {\f0\insrsid8539656\charrsid15419608 (c) Grant to the lessee or sublessee a right to claim compensation for}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
improvements made or to be made by him in, upon, or about the}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 property which is leased or subleased.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid9662913 
\par (6)
\par 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid925322 {\f0\insrsid8539656\charrsid15419608 (a) No trustee shall, without the consent of the Court, exercise any}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
power conferred on him by this section of granting a lease with an}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 optional or compulsory purchasing clause, or of selling or}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
exchanging any freehold and, in any case where the value of land}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 (as determined under section 28) exceeds $15,000.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid925322 {\f0\insrsid9662913 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid925322 {\f0\insrsid8539656\charrsid15419608 (b) A trustee may, without the consent of the Court, sell any such land}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
for more than $15,000 in exercise of the powers conferred on him}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 by this section, if (under section 28) he has in good faith fixed the}{\f0\insrsid9662913  }{\f0\insrsid8539656\charrsid15419608 
value of the land immediately before the sale at $15,000 or less.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid925322 
\par }{\f0\insrsid8539656\charrsid15419608 (6A) Where a person dies intestate as to any personal chattels within the}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 meaning of the Administration Act 1969 and leaves a husband or wife, the trustee}{
\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 of his estate shall not, without the consent of the Court or of the husband or wife,}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
sell those chattels, unless a sale is required for purposes of administration owing}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 to want of other assets.
\par }{\f0\insrsid925322 
\par }{\f0\insrsid8539656\charrsid15419608 (6B) Where upon inquiry the Court is satisfied that a partition of the real}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 estate of a deceased person would be advantageous to the parties interested in it,}
{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 the Court may order a partition or may appoint one or more arbitrators to effect a}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
partition, and to exercise in regard to it, under its directions and control, such}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 powers as it thinks fit; and if the report and final award of the arbitrator are}{\f0\insrsid925322  }{
\f0\insrsid8539656\charrsid15419608 approved by the Court, the trustee shall, by conveyance or transfer, give effect to}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 the same accordingly.
\par }{\f0\insrsid925322 
\par (7)
\par 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid925322 {\f0\insrsid8539656\charrsid15419608 (a) Where there is a power (statutory or otherwise) to postpone the}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 sa
le of any land or authorised investment that a trustee has a duty}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 to sell by reason only of a trust or direction for sale, then (subject to}{\f0\insrsid925322  }{
\f0\insrsid8539656\charrsid15419608 any express direction to the contrary in the instrument, if any,}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 creating the trust), the trustee shall not be liable in any way merely
\par for postponing the sale, in the exercise of his discretion, for an}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 indefinite and unlimited period, whether or not that period exceeds}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
the period during which the trust or direction for sale remains valid;}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 nor shall a purchaser of the land or authorised investment be}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
concerned in any case with any directions respecting the}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 postponement of a sale;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid925322 {\f0\insrsid925322 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid925322 {\f0\insrsid8539656\charrsid15419608 (b) This subsection shall not apply to any property of a wasting or}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
speculative nature.}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid925322\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 15 Miscellaneous powers}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid925322\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (1) Every trustee may exercise the following powers in respect of any}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 property for the time being vested in him \endash 
\par }{\f0\insrsid925322 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid925322 {\f0\insrsid8539656\charrsid15419608 (a) Expend money subject to the same trusts for the repair, maintenance,}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
upkeep, or renovation of the property, whether or not the work is}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 necessary for the purpose of the salvage of the property; and (subject}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
to the rules of law applicable in such cases and to any direction of}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 the court to the contrary) apportion the cost of the work between}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
capital and income or otherwise among the persons entitled thereto}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 in such manner as he considers equitable, with power, in any case}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
where the whole or part of the cost of the work is charged to capital,}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 to recoup capital from subsequent income if such a course would}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
be equitable having regard to all the circumstances of the case;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid925322 {\f0\insrsid925322 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid925322 {\f0\insrsid8539656\charrsid15419608 (b) Expend money subject to the same trusts in the improvement or}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
development of the property or in improving his title to the property}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 or his tenure thereof, whether by the acquisition of an interest in}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
reversion or otherwise:
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid925322 {\f0\insrsid925322 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid925322 {\f0\insrsid8539656\charrsid15419608 Provided that, in exercise of the power conferred by this paragraph,}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
not more than $10,000 may be so expended by a trustee without the}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 consent of the Court for any one purpose.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid925322 {\f0\insrsid925322 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid925322 {\f0\insrsid8539656\charrsid15419608 (c) Where the property is land and the land may be sold or let or leased}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 or oth
erwise disposed of under any power or trust vested in the}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 trustee, subdivide the land into sections and for that purpose}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
construct and dedicate all such roads, streets, access ways, service}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 lanes, and footpaths and make all such reserves, and do all such}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 o
ther things, and pay all such money, as he thinks necessary or as}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 are required by any law or bylaw relating to subdivisions;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid925322 {\f0\insrsid925322 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid925322 {\f0\insrsid8539656\charrsid15419608 (d) Contribute out of money subject to the same trusts such sum as he}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
thinks reasonable towards the construction and maintenance of such}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 roads, streets, access ways, service lanes, and footpaths, and such}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
sewerage, water, electricity, drainage and other works as are in the}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 opinion of the trustee likely to be beneficial to the property,}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
notwithstanding that they are intended to be constructed wholly}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 or in part on land not subject to the same trusts;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid925322 {\f0\insrsid925322 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid925322 {\f0\insrsid8539656\charrsid15419608 (e) Grant easements and }{\i\f0\insrsid8539656\charrsid15419608 profits \'e0 prendre }{\f0\insrsid8539656\charrsid15419608 
and enter into party wall}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 agreements and agreements which relate to fencing and execute all}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 necessary documents to give effect to it;

\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid925322 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid925322 {\f0\insrsid8539656\charrsid15419608 (f) Pay rates, taxes, assessments, insurance premiums, and other}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
outgoings in respect of the property out of money subject to the}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 same trusts;}{\f0\insrsid925322 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid925322 {\f0\insrsid925322 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid925322 {\f0\insrsid8539656\charrsid15419608 (g) As mortgage or mortgagee, agree to the renewal, extension, or}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
variation of the mortgage for such period and on such terms and}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 conditions as he thinks fit:
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid925322 {\f0\insrsid925322 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid925322 {\f0\insrsid8539656\charrsid15419608 Provided that the powers conferred by this paragraph may be}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
exercised by a trustee as mortgagor for the purpose of raising}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 additional money on the security of a mortgage of any property in}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
any case where the trustee would have power under section 21 to}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 raise money by a mortgage of the property, but not otherwise:
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid925322 {\f0\insrsid925322 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid925322 {\f0\insrsid8539656\charrsid15419608 Provided also that nothing in this paragraph shall authorise any}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
trustee to advance any money on the security of any mortgage that}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 would not be an authorised investment in respect of the amount}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 advanced;

\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid925322 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid925322 {\f0\insrsid8539656\charrsid15419608 (h) Make such inquiries, by way of advertisement or otherwise, as he}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
deems necessary for the purposes of ascertaining the next-of-kin or}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 beneficiaries entitled to the property, and charge the cost of the}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
inquiries and advertisements against the property;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid925322 {\f0\insrsid925322 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid925322 {\f0\insrsid8539656\charrsid15419608 (i) Where the property includes a life policy and there is no money or}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
insufficient money available for the payment of premiums on the}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 policy, surrender the policy for money, or accept instead of the policy}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
a fully paid up policy, or vary the terms of the policy in such manner}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 as the trustee thinks fit;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\i\f0\insrsid925322 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid925322 {\f0\insrsid8539656\charrsid15419608 (j) Appropriate any part of the property in or towards satisfaction of}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
any legacy payable or any share (whether settled, contingent or}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 absolute) to which any person is entitled, and for that purpose value}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
the whole or any part of the property under section 28 of this Act:
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid925322 {\f0\insrsid925322 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid925322 {\f0\insrsid8539656\charrsid15419608 Provided that before any such appropriation is effectual notice}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
thereof shall be given to all persons of full age and full mental}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 capacity who are interested in the appropriation, and any such}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
person may within one calendar month after receipt of the notice}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 apply to the Court to vary the same, and the appropriation shall be}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
conclusive save as otherwise directed by the Court:
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid925322 {\f0\insrsid925322 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid925322 {\f0\insrsid8539656\charrsid15419608 Provided also that where the person interested is out of the}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
jurisdiction the said period of one month may be extended by the}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 court for such period as the Court thinks fit, on the application of}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
the trustee or of any person interested;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid925322 {\f0\insrsid925322 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid925322 {\f0\insrsid8539656\charrsid15419608 (k) Where provision is made in any instrument creating a trust for}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
payment of annuity or other periodical payment, and}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 notwithstanding that the annuity or payment may by the instrument}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
be charged upon the trust property or upon any part of it, set aside}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 and appropriate out of property available for payment of the annuity}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
and invest a sum sufficient in the opinion of the trustee at the time}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 of the appropriation to provide out of the income of it the amount}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
required to pay the annuity or periodical payment, and, after the}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 appropriation shall have been made, the residue of the trust}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
property and the income of it shall no longer be liable for the annuity,}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 and may be distributed forthwith under the trusts declared of and}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
concerning the same;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid925322 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid925322 {\f0\insrsid8539656\charrsid15419608 (l) Do or omit all acts and things and execute all instruments necessary}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
to carry into effect the powers and authorities given by this Act or}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 by or under the instrument creating the trust.}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid925322\charrsid15419608 
\par }{\f0\insrsid925322 (2)
\par 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid925322 {\f0\insrsid8539656\charrsid15419608 (a) Where in the administration of any property employed in the}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
production of income or from which income is derived a trustee}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 considers that in the interests of the persons entitled or who may}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
become entitled to the capital of the property it is equitable to set}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 up a depreciation or replacement fund in respect of the property or}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
in respect of any asset comprised in it, then, notwithstanding any}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 rule of law to the contrary, it shall be lawful for but not obligatory}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
upon him to do so, and to credit to the fund and accumulate by}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 way of compound interest such part of the income so produced or}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
derived as he considers equitable and also the resulting income}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 from it.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid925322 {\f0\insrsid925322 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid925322 {\f0\insrsid8539656\charrsid15419608 (b) In any such case the fund shall follow the destination of the capital}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
of the property and shall be subject to all the trusts, powers, and}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 provisions applicable to it; with further power to the trustee to apply}{\f0\insrsid925322  }{
\f0\insrsid8539656\charrsid15419608 as he thinks fit the fund and accumulations of income in or towards}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 the replacement, repair or otherwise of property or assets of a like}{\f0\insrsid925322  }{
\f0\insrsid8539656\charrsid15419608 nature or which otherwise may advantageously be employed in}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 conjunction with the property in producing or deriving the income}{\f0\insrsid925322  }{
\f0\insrsid8539656\charrsid15419608 as aforesaid.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid925322 
\par }{\b\f0\insrsid8539656\charrsid15419608 16 Power of trustee for sale to sell}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid925322\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (1) Where a trust for sale or a power of sale of property is vested in a trustee,}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 he may sell or concur with any other 
person in selling all or any part of the property,}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 either subject to prior encumbrances or not, and either together or in lots, by public}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
auction or by public tender or by private contract, subject to any such conditions}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 respecting title or evidence of title or other matters as the trustee thinks fit, with}{\f0\insrsid925322  }{
\f0\insrsid8539656\charrsid15419608 power to vary any contract for sale, and to buy in at any auction, or to rescind any}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 contract for sale and to resell, without being answerable for any loss.

\par }{\f0\insrsid925322 
\par }{\f0\insrsid8539656\charrsid15419608 (2) A trust or power to sell or dispose of land includes a trust or power to}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
sell or dispose of part of it; whether the division is horizontal, vertical, or made in}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 any other way; and also includes a trust or power to sell or dispose of any buildings,}{\f0\insrsid925322  }{
\f0\insrsid8539656\charrsid15419608 fixtures, timbers, or other things affixed to the soil apart and separately from the}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 land itself.
\par }{\f0\insrsid925322 
\par }{\f0\insrsid8539656\charrsid15419608 (3) In exercise of any power of sale in respect of several properties held}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 under one lease, the trustee may sell the properties separately on the terms that}{
\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 one of the purchasers shall take an assignment of the lease and grant subleases to}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
the other purchasers, and that if any part of the property is not sold the trustee}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 shall retain the lease and grant subleases of the portions sold.
\par }{\f0\insrsid925322 
\par }{\f0\insrsid8539656\charrsid15419608 (4) Where a trustee may sell any property at a fixed or specified time under}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 any trust or power vested in him, the trustee may, with the consent of the persons
}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 (if any) entitled to sell the possession of it pending the sale of the property, sell the}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
property at any time before the date originally appointed.
\par }{\b\f0\insrsid925322 
\par }{\b\f0\insrsid8539656\charrsid15419608 17 Power to sell property on terms
\par }{\f0\insrsid925322 
\par }{\f0\insrsid8539656\charrsid15419608 (1) A sale of property by a trustee in exercise of any power vested in him}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 in that behalf by the instrument creating the trust or by or under this Act or any}{
\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 other enactment may be on terms of deferred payment or otherwise.
\par }{\f0\insrsid925322 
\par }{\f0\insrsid8539656\charrsid15419608 (2) The terms of deferred payment shall be such as a person acting with}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 prudence would, if the property were his own, have accepted in the circumstances}{
\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 in order to sell the property to the best advantage, and, subject to it, may provide}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 for the payment of the purchase m
oney or any part thereof under an agreement}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 for sale or for the conveyance of the property sold and the securing of the unpaid}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
purchase money by mortgage of the property sold.
\par }{\f0\insrsid925322 
\par }{\f0\insrsid8539656\charrsid15419608 (3) Whether the sale is made under the order of the Court or otherwise,}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 the Court may make such order as it thinks fit as to the terms of deferred payment.

\par }{\f0\insrsid925322 
\par }{\f0\insrsid8539656\charrsid15419608 (4) A trustee selling property on terms authorised by this section or by an}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
order of the Court shall not be affected by section 4 or section 10 in respect of so}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 much of the purchase money as is payable under an agreement for sale or is secured}{\f0\insrsid925322  }{
\f0\insrsid8539656\charrsid15419608 by a mortgage, and shall not be liable for any loss that may be incurred by reason}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
only of the security being insufficient at the date of the agreement or mortgage.
\par }{\f0\insrsid925322 
\par }{\f0\insrsid8539656\charrsid15419608 (5) For the purposes of any consent or direction required by the instrument,}{\f0\insrsid925322  }{\f0\insrsid10292966\charrsid15419608 if}{\f0\insrsid8539656\charrsid15419608 
 any, creating the trust or by statute, a trustee selling property on terms of deferred}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 payment shall not be deemed to be lending money or investing trust funds.
\par }{\b\f0\insrsid925322 
\par }{\b\f0\insrsid8539656\charrsid15419608 18 Sale subject to depreciatory conditions}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid925322\charrsid15419608 
\par }{\f0\insrsid10292966\charrsid15419608 (1) No sale made by a trustee shall be impeached by any beneficiary upon}{\f0\insrsid10292966  }{\f0\insrsid10292966\charrsid15419608 the ground that any of the conditions subject to which the sale was made may}{
\f0\insrsid10292966  }{\f0\insrsid10292966\charrsid15419608 have been unnecessarily depreciatory, unless it also appears that the consideration}{\f0\insrsid10292966  }{\f0\insrsid10292966\charrsid15419608 for the sale was thereby rendered inadequate.}{
\f0\insrsid8539656\charrsid15419608 
\par }{\f0\insrsid925322 
\par }{\f0\insrsid8539656\charrsid15419608 (2) No sale made by a trustee shall, after the execution of the conveyance}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 or transfer, be impeached as against the purchaser upon the ground that any of}{
\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 the conditions subject to which the sale was made may have been unnecessarily}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
depreciatory, unless it appears that the purchaser was acting in collusion with the}{\f0\insrsid925322  }{\f0\insrsid10292966 t}{\f0\insrsid10292966\charrsid15419608 rustee}{\f0\insrsid8539656\charrsid15419608 
 at the time when the contract for sale was made.
\par }{\f0\insrsid925322 
\par }{\f0\insrsid8539656\charrsid15419608 (3) No purchaser, upon any sale made by a trustee, shall be at liberty to}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 make any objection against the title upon any of the grounds aforesaid.
\par }{\b\f0\insrsid925322 
\par }{\b\f0\insrsid8539656\charrsid15419608 19 Power of trustees to give receipts}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid925322\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (1) The receipt in writing of a trustee for any money, securities, or other}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 personal property or effects payable, transferable, or deliverable to him under}{
\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 any trust or power shall be a sufficient discharge to the person paying, transferring,}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
or delivering the same, and shall effectually exonerate that person from seeing}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 the application or being answerable for any loss or misapplication of it.
\par }{\f0\insrsid925322 
\par }{\f0\insrsid8539656\charrsid15419608 (2) This section applies notwithstanding anything to the contrary in the}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 instrument, if any, creating the trust.}{\f0\insrsid8539656 
\par }{\f0\insrsid925322\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 20 Power to compound liabilities}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid925322\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 A trustee may, if and as he thinks fit \endash }{\f0\insrsid8539656 
\par }{\f0\insrsid925322\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid925322 {\f0\insrsid8539656\charrsid15419608 (a) Accept any property, real or personal, before the time at which it is}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
made transferable or payable; or
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid925322 {\f0\insrsid925322 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid925322 {\f0\insrsid8539656\charrsid15419608 (b) Sever and apportion any blended trust funds or property; or
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid925322 {\f0\insrsid925322 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid925322 {\f0\insrsid8539656\charrsid15419608 (c) Pay or allow any debt or claim on any evidence that he thinks}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 sufficient; or

\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid925322 {\f0\insrsid925322 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid925322 {\f0\insrsid8539656\charrsid15419608 (d) Accept any composition or any security, real or personal, for any}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
property, for any debt or for any property, real or personal, claimed;}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 or
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid925322 {\f0\insrsid925322 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid925322 {\f0\insrsid8539656\charrsid15419608 (e) Allow any time for payment of any debt; or}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid925322 {\f0\insrsid925322\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid925322 {\f0\insrsid8539656\charrsid15419608 (f) Surrender any leasehold property subject to onerous covenants of}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
such a nature that it would not be to the advantage of the person}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 beneficially interested to retain the property; or
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid925322 {\f0\insrsid925322 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid925322 {\f0\insrsid8539656\charrsid15419608 (g) Compromise, compound, abandon, submit to arbitration, or}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
otherwise settle any debt, account, claim, or thing whatever relating}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 to the trust or to the trust property \endash }{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
and for any of those purposes may enter into, give, execute, and do such}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 agreements, instruments of composition or arrangement, releases, and other things}{\f0\insrsid925322  }{
\f0\insrsid8539656\charrsid15419608 as to him seem expedient, without being responsible for any loss occasioned by}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 any act or thing so done by him in good faith.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\b\f0\insrsid925322 
\par }{\b\f0\insrsid8539656\charrsid15419608 21 Power to raise money by sale or mortgage}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid925322\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (1) Where a trustee is authorised by the instrument, if any, creating the}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 trust or by this Act or any other Act or by law to pay or apply capital money}{
\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 subject to the trust for any purpose or in any manner, he shall have and shall be}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
deemed always to have had power to raise the money required by sale, conversion,}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 calling in, or mortgage of all or any part of the trust property for the time being in}{\f0\insrsid925322  }{
\f0\insrsid8539656\charrsid15419608 possession.
\par }{\f0\insrsid925322 
\par }{\f0\insrsid8539656\charrsid15419608 (2) Without restricting the generality of subsection (1), the power conferred}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
on the trustee by this section to raise any money that is required as aforesaid by}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 the sale, conversion, calling in, or mortgage of all or any part of the trust property}{\f0\insrsid925322  }{
\f0\insrsid8539656\charrsid15419608 for the time being in possession shall extend and be deemed always to have}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 extended so as to confer on the trustee power so to raise money required for the}{
\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 purpose of meeting any debt or other liability of the trustee, whether secured or}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
unsecured and whether owing or incurred at or before the commencement of the}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 trust or subsequently.
\par }{\f0\insrsid925322 
\par }{\b\f0\insrsid8539656\charrsid15419608 22 Protection of purchasers}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid925322\charrsid15419608 
\par }{\f0\insrsid10292966\charrsid15419608 Where an instrument is made or executed in professed exercise of the power}{\f0\insrsid10292966  }{\f0\insrsid10292966\charrsid15419608 
to sell, exchange, lease, or mortgage conferred by the instrument (if any) creating}{\f0\insrsid10292966  }{\f0\insrsid10292966\charrsid15419608 the trust or by this Act or any other Act, the title of the purchaser, transferee,}{\f0\insrsid10292966  }{
\f0\insrsid10292966\charrsid15419608 lessee, or mortgagee shall not be impeachable except on the ground of fraud, or}{\f0\insrsid10292966  }{\f0\insrsid10292966\charrsid15419608 b
e affected on the ground that no case has arisen to authorise the sale, exchange,}{\f0\insrsid10292966  }{\f0\insrsid10292966\charrsid15419608 lease, or mortgage, or that the power was otherwise improperly or irregularly}{\f0\insrsid10292966 
 exercised; but any person de}{\f0\insrsid10292966\charrsid15419608 mnified by an authorised or improper or irregular}{\f0\insrsid10292966  }{\f0\insrsid10292966\charrsid15419608 exercise of the power shall have his remedy in damages against the person}{
\f0\insrsid10292966  }{\f0\insrsid10292966\charrsid15419608 exercising the power, and no purchaser, transferee, lessee, or mortgagee shall be}{\f0\insrsid10292966  }{\f0\insrsid10292966\charrsid15419608 
concerned to see to the application of the money paid by him, or be responsible}{\f0\insrsid10292966  }{\f0\insrsid10292966\charrsid15419608 for the misapplication of it.}{\f0\insrsid8539656 
\par }{\f0\insrsid925322\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 23 Devolution of powers or trusts}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid925322\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (1) Where a power or trust is given to or imposed on 2 or more trustees}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 jointly, the same may be exercised or performed by the survivors or survivor of}{
\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 them for the time being.}{\f0\insrsid8539656 
\par }{\f0\insrsid925322\charrsid15419608 
\par }{\f0\insrsid925322 (2)
\par 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid925322 {\f0\insrsid8539656\charrsid15419608 (a) Until the appointment of a new trustee, the personal representative}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
for the time being of a sole trustee or (where there were 2 or more}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 trustees) of the last surviving or continuing trustee shall be capable}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
of exercising or performing any power or trust which was given to,}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 or capable of being exercised by, the sole or last surviving or}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
continuing trustee, or other the trustees for the time being of the}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 trust;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid925322 {\f0\insrsid925322 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid925322 {\f0\insrsid8539656\charrsid15419608 (b) In this subsection }{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 trustee}{\f0\insrsid15419608 "}{
\f0\insrsid8539656\charrsid15419608  does not include a personal}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 representative as such.}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid925322\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (3) This section does not authorise the exercise or performance of any power}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 or trust by an executor who has renounced or has not proved.}{\f0\insrsid8539656 

\par }{\f0\insrsid925322\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 24 Power to insure}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid925322\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (1) A trustee may insure against loss or damage, whether by fire or}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 earthquake or otherwise, any building or other insurable property to any amount,}{
\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 including the amount of any insurance already on foot, not exceeding the full}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
insurable value of the building or property, or (with the consent of the person}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 entitled to the income of the Court) the full replacement value of the building or}{\f0\insrsid925322  }{
\f0\insrsid8539656\charrsid15419608 property; and may also insure against any risk or liability against which it would}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
be prudent for a person to insure if he were acting for himself; and may pay the}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 premiums for the insurance out of the income of the building or property concerned}{\f0\insrsid925322  }{
\f0\insrsid8539656\charrsid15419608 or out of the income of any other property subject to the same trusts without}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 obtaining the consent of any person who may be entitled wholly or partly to that}{
\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 income.
\par }{\f0\insrsid925322 
\par }{\f0\insrsid8539656\charrsid15419608 (2) The trustee may recover the costs of any premiums paid in respect of}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 any such insurance from the life tenant or other person entitled to or in receipt of}{
\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 the rents and profits of the building or property concerned.
\par }{\f0\insrsid925322 
\par }{\f0\insrsid8539656\charrsid15419608 (3) Nothing in this section shall impose any obligation on a trustee to insure.
\par }{\b\f0\insrsid925322 
\par }{\b\f0\insrsid8539656\charrsid15419608 25 Application of insurance money where policy kept up under any trust,}{\b\f0\insrsid925322  }{\b\f0\insrsid8539656\charrsid15419608 power or obligation
\par }{\f0\insrsid925322 
\par }{\f0\insrsid8539656\charrsid15419608 (1) Money receivable by a trustee or any beneficiary under a policy of}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 insurance against the loss of or damage to any property subject to a trust, whether}{
\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 by fire or otherwise, shall, where the policy has been kept up under any trust in}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 
that behalf or under any power, statutory or otherwise, or in performance of any}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 covenant or of any obligation, statutory or otherwise, or by a tenant for life}{\f0\insrsid925322  }{
\f0\insrsid8539656\charrsid15419608 impeachable for waste, be capital for the purposes of the trust, except so far as it}{\f0\insrsid925322  }{\f0\insrsid8539656\charrsid15419608 would be regarded as income under any rule of law.
\par }{\f0\insrsid925322 
\par }{\f0\insrsid8539656\charrsid15419608 (2) If any such money is receivable by any person other than the trustee of}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 the trust, that person shall use his best endeavours to recover and receive the}{
\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 money, and shall pay the net residue of it, after discharging any costs of recovering}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
and receiving it, to the trustee of the trust, or, if there is no trustee capable of}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 giving a discharge for it, to the Crown under section 77.
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (3) Any such money
\par }{\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (a) If it was receivable in respect of property held upon trust for sale,}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
shall be held upon the trusts and subject to the powers and}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 provisions applicable to money arising by a sale under the trust;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (b) In any other case, shall be held upon trust corresponding as nearly}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
as may be with the trusts affecting the property in respect of which}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 it was payable.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (4) Any such money, or any part thereof, may also be applied by the trustee,}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 or, if held by the Cr
own, under the direction of the Court, in rebuilding, reinstating,}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 replacing, or repairing the property lost or damaged, but any such application by}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 the trustee shall be subject to the consent of any person whose consent is required}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 by the instrument, if a
ny, creating the trust to the investment of money subject to}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 the trust.
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (5) Nothing in this section shall prejudice or affect the right of any person}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 to require any such money or any part thereof to be applied in rebuilding,}{
\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 reinstating, or repairing the property lost or damaged, or the rights of any}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
mortgagee, lessor, or lessee, whether under any statute or otherwise.
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (6) This section applies to policies effected either before or after the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 commencement of this Act, but only to money received after the commencement.
\par }{\b\f0\insrsid14424973 
\par }{\b\f0\insrsid8539656\charrsid15419608 26 Deposit of documents for safe custody
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 A trustee may deposit any documents held by him relating to the trust, or}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 to the trust property, with any bank or corporation whose business includes the}{
\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 undertaking of the safe custody of documents, and any sum payable in respect of}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
any such deposit shall be paid out of the income of the trust property, and so far as}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 there is no available income out of the capital of the trust property.
\par }{\b\f0\insrsid14424973 
\par }{\b\f0\insrsid8539656\charrsid15419608 27 Reversionary interests}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid14424973\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (1) Where trust property includes any share or interest in property not}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 vested in the trustee, or the proceeds of the sale of any such property, or any other
}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 thing in action, the trustee, on the same falling into possession or becoming payable}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 or transferable, may \endash 
\par }{\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (a) Agree or ascertain the amount or value of it or any part of it in such}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
manner as he may think fit;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (b) Accept in or towards satisfaction of it, at the market or current value,}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
or upon any valuation or estimate of value which he may think fit,}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 any authorised investments;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (c) Allow any deductions for duties, costs, charges, and expenses which}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
he may think proper or reasonable;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (d) Execute any release in respect of the premises so as effectually to}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
discharge all accountable parties from all liability in respect of any}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 matters coming within the scope of the release \endash }{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
without being responsible in any such case for any loss occasioned by any act or}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 thing so done by him in good faith.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (2) The trustee shall not be under any obligation and shall not be chargeable}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 with any breach of trust by reason of any omission \endash 
\par }{\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (a) To give any notice in respect of or apply for any charging or other}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
like order upon any securities or other property out of or in which}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 such share or interest or other thing in action as aforesaid is derived,}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 payable, or charged; or
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (b) To take any proceedings on account of any act, default, or neglect}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
on the part of the persons in whom the securities or other property}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 or any of them or any part of it are for the time being, or had at any}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 time been, vested \endash }{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 unless and until required in writing so to do by some person, or the guardian of}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 some person, beneficially interested under the trust, and unless also due provision}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 is made to his sati
sfaction for payment of the costs of any proceedings required to}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 be taken.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (3) Nothing in subsection (2) shall relieve the trustee of the obligation to}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 get in and obtain payment or transfer of the share or interest or other thing in
}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 action on the same falling into possession.
\par }{\b\f0\insrsid14424973 
\par }{\b\f0\insrsid8539656\charrsid15419608 28 Valuations}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid14424973\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (1) A trustee may, for the purpose of giving effect to the trust, or any of the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
provisions of the instrument, if any, creating the trust or of this Act or any other}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 Act, ascertain and fix the value of any trust property, or of any property which he}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 is authorised to purchase or otherwise acquire, in such manner as he thinks proper;}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
and where the trustee is not personally qualified to ascertain the value of any}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 property he shall consult a duly qualified person (whether employed by him or}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 not) as to that value; but the trustee shall not be bound to accept any valuation}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 made by any person whom the trustee may consult.
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (2) Any valuation made by the trustee in good faith under this section}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 shall be binding on all persons beneficially interested under the trust.
\par }{\b\f0\insrsid14424973 
\par }{\b\f0\insrsid8539656\charrsid15419608 29 Power to employ agents
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (1) A trustee may, instead of acting personally, employ and pay an agent,}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 whether a solicitor, accountant, bank, trustee corporation, stockbroker, or other}{
\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 person, to transact any business or do any act required to be transacted or done in}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
the execution of the trust or the administration of the trust property, including the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 receipt and payment of money, and the keeping and audit of trust accounts, and}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 shall be entitled to be allowed and paid all charges and expenses so incurred, and}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
shall not be responsible for the default of any such agent if employed in good}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 faith.
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (2) A trustee may appoint any person to act as his agent or attorney for the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 purpose of selling, convertin
g, collecting, getting in, and executing and perfecting}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 assurances of, or managing or cultivating, or otherwise administering any property,}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 real or personal, movable or immovable, subject to the trust in any place outside}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 Niue or executing or exercising an
y discretion or trust or power vested in him in}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 relation to any such property, with such ancillary powers and with and subject to}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
such provisions and restrictions as he may think fit, including a power to appoint}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 substitutes, and shall not, by reason only of his having made any such appointment,}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 be responsible for any loss arising thereby;
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (2A) Without restricting the other powers conferred by this section, a}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 trustee may \endash 
\par }{\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (a) Employ a trustee corporation to be his agent for the purpose of}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
investing any trust funds in his possession, whether at the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 commencement of the employment in a state of investment or not,}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
whether they came into his possession before or after the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 commencement of this section, and whether they comprise the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 whole or any p
art of the trust estate to which they belong; and
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (b) Pay or transfer any such trust funds to the trustee corporation so}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 employed.

\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (3) Without prejudice to such general power of appointing agents \endash 
\par }{\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (a) A trustee may appoint a solicitor to be his agent to receive and give}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
a discharge for any money or valuable consideration or property}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 receivable by the trustee under the trust by permitting the solicitor}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
to have the custody of, and to produce a deed or instrument having}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 in the body of it or endorsed on it a receipt for the money or valuable}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 consideration or property, the deed or instrument being executed,}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 or the endorsed receipt being signed, by the person entitled to give}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 a receipt for that consideration;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (b) A trustee shall not be chargeable with breach of trust by reason}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
only of his having made or concurred in making any such}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 appointment; and the production of any such deed or instrument}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
by the solicitor shall have the same validity and effect as if the person}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 appointing the solicitor had not been a trustee;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (c) A trustee may appoint a bank or solicitor to be his agent to receive}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
and give a discharge for any money payable to the trustee under or}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 by virtue of a policy of insurance, by permitting the bank or solicitor}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 to have the custody of and to produce the policy of insurance with}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 a receipt signed by the trustee, and a trustee shall not be chargeable}{\f0\insrsid14424973 
 }{\f0\insrsid8539656\charrsid15419608 with a breach of trust by reason only of his having made or}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 concurred in making any such appointment.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (3) Nothing in subsection (2) shall exempt a trustee from any liability which}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 he would have incurred if this Act and any enactment replaced by this Act had}{
\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 not been passed, in case he permits any such money, valuable consideration, or}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 property to remain 
in the hands or under the control of the bank or solicitor for a}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 period longer than is reasonably necessary to enable the bank or solicitor, as the}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 case may be, to pay or transfer the same to the trustee.
\par }{\b\f0\insrsid14424973 
\par }{\b\f0\insrsid8539656\charrsid15419608 30 Power to concur with others}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid14424973\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 Where an undivided share in any property is subject to a trust, the trustee}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 may (without prejudice to any trust or power in relation to the entirety of the}{
\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 property) execute or exercise any trust or power vested in him in relation to that}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 share in conjunct
ion with the persons entitled to or having power in that behalf}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 over the other share or shares, and notwithstanding that the trustee or any one or}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 more of several trustees may be entitled to or interested in any such other share,}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 either in his or their own right or in a fiduciary capacity.}{
\f0\insrsid8539656 
\par }{\f0\insrsid14424973\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 31 Power to delegate trusts}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid14424973\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (1) A trustee who \endash 
\par }{\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (a) Is for the time being out of Niue or is about to depart from it; or
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (b) Expects that he may be absent from Niue during the administration}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
of the trust; or
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (c) Is or may be about to become temporarily incapable, by reason of}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
physical infirmity, of performing all his duties as trustee; or
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (d) Expects that he may be from time to time temporarily incapable,}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
by reason of physical infirmity, of performing all his duties as a}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 trustee \endash }{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
may, notwithstanding any rule of law or equity to the contrary, by power of attorney}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 executed as a deed, delegate to any person the execution or exercise, during any}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 period for which the trustee may be absent from Niue or incapable of performing}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
all his duties as a trustee, of all or any trusts, powers, authorities, and discretions}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 vested in him as such trustee, whether alone or jointly with any other person or}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 persons:
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 Provided that a person being the only other co-trustee and not being a trustee}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
corporation shall not be appointed to be an attorney under this subsection.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (2) Where any such delegation has been duly made to and accepted by}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 any person and is for the time being in operation, that person shall have, within}{
\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 the scope of the delegation, the same trusts, powers, authorities, discretions,}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
liabilities, and responsibilities as he would have if he were then the trustee.
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (3) In any proceedings brought by any person beneficially interested under}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 the trust against the donor of a power of attorney given under this section in}{
\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 respect of any act or default of the donee of the power it shall be a defence for }{\f0\insrsid10292966\charrsid15419608 the donor}{\f0\insrsid8539656\charrsid15419608 
 to prove that the donee was appointed by him in good faith and without}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 negligence.
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (4) All jurisdiction and powers of any Court shall apply to the donee of}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 the power of attorney in the same manner, so far as respects the execution of the}{
\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 trust or the administration of the estate to which the power of attorney relates, as}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
if the donee were acting in relation to the trust or estate in the same capacity as the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 donor of the power.
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (5) The power of attorney shall not come into operation unless and until}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 the donor is out of Niue or is incapable of performing all his duties as a trustee,}
{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 and unless the deed otherwise provides shall be deemed to be revoked by his}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
return or by his recovery of that capacity, as the case may be.
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (6) In favour of any person dealing with the donee of a power of attorney}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 given under this section, any act done or instrument executed by the donee shall,}{
\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 notwithstanding that the power has never come into operation or has been revoked,}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 whether by the Act of the donor of the power or by ope
ration of law, be as }{\f0\insrsid10292966\charrsid15419608 valid and}{\f0\insrsid8539656\charrsid15419608  effectual as if the power had come into operation and remained unrevoked at}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
the time when the act was done or the instrument executed, unless that person}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 had at that time actual notice that the power had never come into operation or of}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 the revocation of the power.
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (7) A statutory declaration by the donee of a power of attorney relating to}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
any trust or estate that the power has come into operation, or that in any transaction}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 the donee is acting in the execution of the trust or the administration of the estate,}{\f0\insrsid14424973 
 }{\f0\insrsid8539656\charrsid15419608 shall in favour of a person dealing with the donee of the power be conclusive}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 evidence of that fact.
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (8) The fact that it appears from any power of attorney given under this}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 section, or from any evidence required for the purposes of any power of attorney}{
\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 or otherwise, that in any transaction the donee of the power is acting in the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
execution of a trust shall not be deemed for any purpose to affect any person}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 dealing in good faith with the donee with any notice of the trust.
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (9) For the purpose of executing or exercising the trusts, powers, authorities,}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 and discretions delegated to him the donee may exercise any of the powers,}{
\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 authorities and discretions conferred on the donor as trustee by statute or by the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 instrument crea
ting the trust, except the power of delegation conferred by this}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 section.
\par }{\i\f0\insrsid14424973 
\par }{\b\f0\insrsid8539656\charrsid15419608 32 Power to carry on business}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid14424973\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (1) Subject to any other Act, if at the time of his death any person (whether}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
alone or in partnership) is engaged in carrying on a business, trade, or occupation,}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 it shall be lawful for his trustee to continue to carry on the same in the same manner}{\f0\insrsid14424973  }
{\f0\insrsid8539656\charrsid15419608 for any one or more of the following periods \endash 
\par }{\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (a) 2 years from the death of that person;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (b) Such period as may be necessary or desirable for the winding up of}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
the business;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (c) Such further period or periods as the Court may approve.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (2) In exercise of the powers conferred by this section or by the instrument}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 creating the trust, a trustee may employ any part of the deceased\rquote 
s estate which is}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 subject to the same trusts; and may increase or diminish the part of the estate so}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
employed; and may purchase stock, machinery, implements, and chattels for the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 purposes of the business; and may employ such managers, agents, servants, clerks,}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 workmen, and others as he thinks fit; and may at any time enter into a partnership}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
agreement to take the place of any partnership agreement subsisting immediately}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 before the death of the deceased or at any time after it.
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (3) Application to the Court for leave to carry on a business may be made}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
by the trustee or any person beneficially interested in the estate at any time, whether}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 or not any previous authority to carry on the business has expired; and the Court}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 may make such an order, or may order that the business be not carried on, or be}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 carried on subject to conditions, or may make such other order as in the}{
\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 circumstances seems proper.
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (4) Nothing in this section shall prejudice any other authority to do the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 acts thereby authorised to be done.
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (5) Where a trustee is in any manner interested or concerned in a trade or}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 business, he may make such subscription as it would be prudent for him to make}{
\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 if he were acting for himself out of the income of the assets affected to any fund}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
created for objects or purposes in support of trades or businesses of a like nature}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 and subscribed to by other persons engaged in the like trade or business.
\par }{\b\f0\insrsid14424973 
\par }{\b\f0\insrsid8539656\charrsid15419608 33 Power to convert business into a company}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid14424973\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 A trustee may at any time, at the expense of the trust property, convert or}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 join in converting any business into a company limited by shares in such manner}{
\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 as he may think fit; and may, at the like expense, promote and assist in promoting}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 a company for taking over 
the business; and may sell or transfer the business and}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 the capital and assets and goodwill of it, or any part of it, to the company, or to}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 any company having for its objects the purchase of such a business, in consideration}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
in either case, wholly or in part of ordinary or preference shares wholly or partially}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 paid up of any such company, or wholly or in part of debentures, debenture stock,}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 or bonds of any such company, and as to the balance (if any) in cash payable}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 immediately, or by any instalments with or without security.
\par }{\b\f0\insrsid14424973 
\par }{\b\f0\insrsid8539656\charrsid15419608 33A Trustee may sue himself in a different capacity}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid14424973\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (1) Notwithstanding any rule of law or practice to the contrary, a trustee}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 of any property in that capacity may sue, and be sued by, himself in any other}{
\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 capacity whatsoever, including his personal capacity.
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (2) In every such case the trustee shall obtain the directions of the Court in}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
which the proceedings are taken as to the manner in which the opposing interests}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 are to be represented.
\par }{\f0\insrsid14424973 
\par }{\i\f0\insrsid8539656\charrsid15419608 Indemnities}{\i\f0\insrsid8539656 
\par }{\i\f0\insrsid14424973\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 34 Protection against liability in respect of rents and covenants
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (1) Where a trustee liable as such for \endash 
\par }{\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (a) Any rent, covenant, or agreement reserved by or contained in any}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 lease; or

\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (b) Any rent, covenant or agreement payable under or contained in}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 a
ny grant made in consideration of a }{\f0\insrsid10292966\charrsid15419608 rent charge}{\f0\insrsid8539656\charrsid15419608 ; or
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (c) Any indemnity given in respect of any rent, covenant or agreement}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
referred to in paragraph (a) or (b) \endash }{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 satisfies all liabilities under the lease or grant which may have accrued and been}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
claimed up to the date of the conveyance hereinafter mentioned, and, where}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 necessary, sets apart a sufficient fund to answer any future claim that may be}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 made in respect of any fixed and ascertained sum which the lessee or grantee}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 agreed to lay out on the property demised or granted, although the period for}{
\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 laying out the same may not have arrived, then and in any such case the trustee}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
may convey the property demised or granted to a purchaser, legatee, devisee, }{\f0\insrsid10292966\charrsid15419608 or other}{\f0\insrsid8539656\charrsid15419608  person entitled to call for a conveyance of it, and after it \endash }{\f0\insrsid8539656 

\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid14424973\charrsid15419608 
\par }\pard \ql \li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (i) He may distribute the trust estate (other than the fund, if any,}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
set apart as aforesaid) to or amongst the persons entitled to it,}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 without appropriating any part, or any further part, as the case}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
may be, of the trust estate to meet any future liability under}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 the said lease or grant;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (ii) Notwithstanding the distribution, he shall not personally be}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
liable in respect of any subsequent claim under the said lease}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 or grant.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (2) For the purposes of this section a trustee shall be deemed to be liable as}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
such for any liabilities arising from privity of estate which he may incur under the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 obligations contained in a lease or grant if he is entitled to reimburse himself out}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 of the }{\f0\insrsid10292966\charrsid15419608 trust }{\f0\insrsid10292966 property}{\f0\insrsid8539656\charrsid15419608  for all expenses he may incur in respect of the liabilities.
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (3) This section operates without prejudice to the right of the lessor or}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 grantor, or the persons deriving title under the lessor or grantor, to follow the}{
\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 trust property or any part of it or any property representing the same into the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
hands of the persons amongst whom the same may have been respectively}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 distributed, and applies notwithstanding anything to the contrary in the}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 instrument, if any, creating the trust.}{\f0\insrsid8539656 
\par }{\f0\insrsid14424973\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (4) In this section }{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 lease}{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608  includes a sublease and an agreement for a lease}{
\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 or sublease and any instrument giving any such indemnity as aforesaid or varying}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 the liabilities under the lease; }{\f0\insrsid15419608 
"}{\f0\insrsid8539656\charrsid15419608 grant}{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608  applies to a grant whether the rent is created}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
by limitation, grant, reservation, or otherwise, and includes an agreement for a}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 grant and any instrument giving any such indemnity as aforesaid or varying the}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 liabilities under the grant; and }{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 lessee}{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608  and }{\f0\insrsid15419608 "}{
\f0\insrsid8539656\charrsid15419608 grantee}{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608  include persons respectively}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 deriving title under them.}{\f0\insrsid8539656 
\par }{\f0\insrsid14424973\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 34A Lien on policy money for premiums}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid14424973\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 Where a trustee pays any premiums in respect of any policy of insurance}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 he shall have a lien on the policy money for the amount of the premiums so paid,}{
\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 together with interest on it at the rate of 6 percent.}{\f0\insrsid8539656 
\par }{\f0\insrsid14424973\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 35 Protection against creditors}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid14424973\charrsid15419608 
\par }{\f0\insrsid14424973 (1)
\par 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (a) Where a trustee has given notice by advertisement published at}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
least once in a newspaper circulating in each locality in which in}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 the pinion of the trustee claims are likely to arise requiring persons}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 having claims to which this section applies to send to the trustee,}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 within the time fixed in the notice, particulars of their claims and}{\f0\insrsid14424973  
}{\f0\insrsid8539656\charrsid15419608 warning them of the consequences of their failure to do so, then, at}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 the expiration of that time or at any time after it the trustee may}{
\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 administer or distribute the property or any part of it to which the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 notice relates to or among the persons entitled to it having regard
}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 only to the claims, whether formal or not, of which the trustee then}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
has notice; and he shall not, as respects the property so administered}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 or distributed, be liable to any person of whose claim he has not}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 had notice at the time of the administration or distribution.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (b) Nothing in this section shall prejudice any remedy which the person}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
may have under section 49 of the Administration Act 1969 or any}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 other right or remedy available to him against any person other}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
than the trustee, including any right which he may have to follow}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 the property and any money or property into which it is converted.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid14424973 
\par (2)
\par 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (a) The time to be fixed as aforesaid by any such notice shall not be}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
less than one month from the date on which the notice is given.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (b) Where the notice is given in a newspaper circulating mainly outside}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
Niue the time to be fixed as aforesaid shall be not less than 2 months.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (3) In any case where the personal representative of a deceased person}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 gives any such notice, the localities specified in subsection (1) shall include each}{
\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 locality in which the deceased resided or carried on business at any time during}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 the year immediately preceding his death.
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (4) Where the trustee is in doubt as to what advertisements should be}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 published under this section he may apply to the Court for directions.
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (5) Any advertisement published under this section may relate to more}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 than one estate or trust property.
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (6) This section shall apply notwithstanding anything to the contrary in}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 the instrument, if any, creating the trust.
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (7) Except as provided in subsection (8) this section shall apply to the claims,}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 whether present or future, certain or contingent, against a trustee pe
rsonally by}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 reason of his being under any liability in respect of which he is entitled to reimburse}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
himself out of the estate or property that he is administering.
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (8) This section shall not apply to \endash 
\par }{\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (a) Any claim arising out of any contract to make a will containing}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
certain provisions or not to revoke an existing will or a specified}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 provision therein or not to make a will; or
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (b) Any claim by a person to be a beneficiary under the will or to be}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 entitled on 
the intestacy of the deceased person or to be beneficially}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 interested under the trust.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\b\f0\insrsid14424973 
\par }{\b\f0\insrsid8539656\charrsid15419608 36 Protection in regard to notice
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 A trustee acting for the purposes of more than one trust shall not, in the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 absence of fraud, be affected by notice of any instrument,
 matter, fact, or thing in}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 relation to any particular trust if he has obtained notice of it merely by reason of}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
his acting or having acted for the purposes of another trust.
\par }{\f0\insrsid14424973 
\par }{\b\f0\insrsid8539656\charrsid15419608 37 Exoneration of trustees in respect of certain powers of attorney
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (1) A trustee acting or paying money in good faith in reliance on any power}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 of attorney and on a statutory declaration or other sufficient evidence that the}
{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 power of attorney has not been revoked shall not be liable for any such act or}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 payment by reason of the fact th
at at the time of the act or payment the person}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 who gave the power of attorney was subject to any disability, or bankrupt, or}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
dead, or had done or suffered some act or thing to avoid the power, if this fact was}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 not known to the trustee at the time of his so acting or paying.
\par }{\f0\insrsid14424973 
\par (2)
\par 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (a) Nothing in this section shall affect the right of any person entitled}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
to the money against the person to whom the payment is made.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (b) The person so entitled shall have the same remedy against the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
person to whom the payment is made as he would have had against}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 the trustee.}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid14424973\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 38 Implied indemnity of trustees}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid14424973\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (1) A trustee shall be chargeable only for money and securities actually}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 received by him, notwithstanding his signing any receipt for the sake of conformity,
}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 and shall be answerable and accountable only for his own acts, receipts, neglects,}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
or defaults, and not for those of any other trustee, nor for any bank, broker or}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 other person with whom any trust money or securities may be deposited, nor for}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 the insufficiency or deficiency of any securities, nor for any other loss unless the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 same happens through his own wilful default.}{\f0\insrsid8539656 
\par }{\f0\insrsid14424973\charrsid15419608 
\par }{\f0\insrsid14424973 (2)
\par 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (a) A trustee may reimburse himself or pay or discharge out of the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 trust property
 all expenses reasonably incurred in or about the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 execution of the trusts or powers; but, except as provided in this}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
Act or any other Act or as agreed by the persons beneficially}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 interested under the trust, no trustee shall be allowed the costs of}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
any professional services performed by him in the execution of the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 trusts or powers unless the contrary is expressly declared by the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
instrument creating the trust.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (b) The Court may on the application of the trustee allow such costs as}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
in the circumstances seem just.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\b\f0\insrsid14424973 
\par }{\b\f0\insrsid8539656\charrsid15419608 39 Protection of trustee who pays trust money to bankrupt}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid14424973\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (1)}{\f0\insrsid14424973 
\par 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (a) If a trustee in good faith, without negligence, and without actual}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
knowledge of the bankruptcy of any person, pays or transfers to or}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 to the order of that person any trust money or trust property which}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
he would have been entitled to receive (whether as a beneficiary or}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 otherwise) if he had not been adjudged bankrupt, the trustee shall}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
not be liable to the assignee in bankruptcy of the estate of the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 bankrupt for any money so paid or any property so transferred.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (b) Nothing in this section shall prejudice the right of the assignee in}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
bankruptcy to follow the money or property or any part of it into}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 the hands of the persons who have received the same.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (2) For the purposes of this section a trustee shall not be deemed to have}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 actual knowledge of the bankruptcy of any person by reason merely of the fact}{
\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 that notice of the adjudication has been published in any newspaper or in the}{\f0\insrsid14424973  }{\i\f0\insrsid8539656\charrsid15419608 Gazette.}{\f0\insrsid8539656\charrsid14424973 
\par }{\i\f0\insrsid14424973 
\par }{\b\f0\insrsid8539656\charrsid14424973 39A Protection of trustee in handing over chattels to life tenant
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (1) Where any chattels are, under the provisions of any will, bequeathed}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 to any person including an infant for life or for any limited interest, the trustee}
{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 may cause an inventory to be made of the chattels, which inventory shall be signed}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
by that person and retained by the trustee, and a copy of the inventory shall be}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 delivered to that person.
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (2) The trustee may thereupon deliver the chattels to that person on such}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 terms and conditions as t
he trustee thinks fit, and shall not after it be bound to see}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 to the repair or insurance of the chattels, and shall not be subject to any liability}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 whatsoever by reason of the loss or destruction of the chattels or the neglect of}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 that person to effect any such repairs or insurance.
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (3) A copy of any such inventory, signed by that person and by the trustee}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 shall be deemed to be an instrument within the meaning of the Chattels Transfer}{
\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 Act 1924, and may be registered accordingly.
\par }{\b\f0\insrsid14424973 
\par }{\b\f0\insrsid8539656\charrsid15419608 39B Protection of trustee in handing over chattels to infant
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (1) a trustee may in his discretion deliver to an infant, or to the guardian}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
or any of the guardians of an infant, any chattels absolutely vested in the infant,}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 and the receipt of the infant or guardian shall be a complete discharge to the trustee}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 for any chattels so delivered.
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (2) The powers conferred by this section are in addition to the powers}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 conferred by section 41 and, for the purposes of section 41(2)(b) the value of the}{
\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 chattels delivered under this section shall not be taken into account in any way.
\par }{\i\f0\insrsid14424973 
\par }{\i\f0\insrsid8539656\charrsid15419608 Maintenance, Advancement and Protective Trusts}{\i\f0\insrsid8539656 
\par }{\i\f0\insrsid14424973\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 40 Power to apply income for maintenance}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid14424973\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (1) Where any property is held by a trustee in trust for any person for any}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 interest whatsoever, whether vested or contingent, then, any prior interests or}{
\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 charges affecting that property \endash 
\par }{\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (a) During the infancy of any such person, if his interest so long}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
continues, the trustee may, at his sole discretion, pay to his parent}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 or guardian, if any, or otherwise apply for or towards his}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
maintenance or education (including past maintenance or}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 education) or his advancement or benefit, the whole or such part, if}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
any, of the income of that property as may, in all the circumstances}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 be reasonable, whether or not there is \endash 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid14424973 
\par }\pard \ql \li1440\ri0\nowidctlpar\tqc\tx1440\faauto\rin0\lin1440\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (i) Any other fund applicable to the same purpose; or}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\tqc\tx1440\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973\charrsid15419608 
\par }\pard \ql \li1440\ri0\nowidctlpar\tqc\tx1440\faauto\rin0\lin1440\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (ii) Any person bound by law to provide for his maintenance,}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
education, advancement, or benefit; and
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (b) If the person on attaining the age of 20 years has not a vested interest}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
in that income, the trustee shall thenceforth pay the income of that}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 property and of any accretion to it under subsection (2) to him until}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 he either attains a vested interest in it or dies, or until failure of his}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 interest;}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 Provided that, in deciding whether the whole or any part of the income of the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
property is during a minority to be paid or applied for the purposes aforesaid, the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 trustee shall have regard to the age of the infant and his requirements and generally}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 to the circumstances of the case, and in particular to what other income, if any, is}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
applicable for the same purposes; and where the trustee has notice that the }{\f0\insrsid10292966\charrsid15419608 income of}{\f0\insrsid8539656\charrsid15419608  more than one fund is applicable for those purposes, then, so far as practicable,}{
\f0\insrsid14424973   }{\f0\insrsid8539656\charrsid15419608 unless the entire income of the funds is paid or applied as aforesaid or the Court}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
otherwise directs, a proportionate part only of the income of each fund shall be so}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 paid or applied.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (2) During the infancy of any such person, if his interest so long continues,}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
the trustee shall accumulate all the residue of that income in the way of compound}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 interest by investing the same and the resulting income of it in authorised}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 investments, and shall hold those accumulations as follows \endash 
\par }{\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (a) If any such person \endash 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid14424973 
\par }\pard \ql \li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (i) Attains the age of 20 years, or marries under that age, and his}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
interest in the income during his infancy or until his marriage}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 is a vested interest; or
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (ii) On attaining the age of 20 years or on marriage under that age}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
becomes entitled to the property from which the income arose}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 in fee simple absolute or determinable, or absolutely \endash }{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
the trustee shall hold the accumulations in trust for that person}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 absolutely, but without prejudice to any provision with respect to}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
it contained in any settlement by him made under any statutory}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 powers during his infancy, and so that the receipt of that person}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
after marriage, and though still an infant, shall be a good discharge;}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 and
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (b) In any other case the trustee shall, notwithstanding that that person}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
had a vested interest in the income, hold the accumulations as an}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 accretion to the capital of the property from which the accumulations}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 arose and as one fund with that capital for all purposes \endash }{\f0\insrsid14424973 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 but the trustee may, at any time during the infancy of that person if his interest so}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
long continues, apply those accumulations, or any part of it, as if they were income}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 arising in the then current year.
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (3) This section applies in the case of a contingent interest only if the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
limitation or trust carries the intermediate income of the property, but it applies to}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 a future or contingent legacy by the parent of, or a person standing in the place of}{\f0\insrsid14424973  }
{\f0\insrsid8539656\charrsid15419608 a parent to, the legatee, if and for such period as, under the general law, the legacy}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
carries interest for the maintenance of the legatee, and in any such case as last}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 aforesaid the rate of interest shall (if the income available is sufficient and subject}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 to any rules of Court to the contrary) be that for the time being prescribed by or}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 under section 39 of the Administration Act 1969.
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (4) This section applies to a vested annuity in like manner as if the annuity}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 were the income of property held by a trustee in trust
 to pay the income of it to the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 annuitant for the same period for which the annuity is payable, save that in any}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
case accumulations made during the infancy of the annuitant shall be held in}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 trust for the annuitant or his personal representatives absolutely.
\par }{\b\f0\insrsid14424973 
\par }{\b\f0\insrsid8539656\charrsid15419608 41 Power to apply capital for maintenance
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (1) A trustee may at any time or times pay or apply any capital money or}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 other capital asset subject to a trust, for the maintenance or education (including}
{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 past maintenance or education), or the advancement or benefit, in such manner
\par as he may in his absolute discretion think fit, of any person entitled to the capital}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 of the trust property or of any share of it, whether absolutely or contingently on}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 his attaining any specified age or on the occurrence of any other event, or subject}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
to a gift over on his death under any specified age or on the occurrence of any}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 other event, and whether in possession or in remainder or reversion, and any}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 such payment or application may be made notwithstanding that the interest of}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 that person is liable to be defeated by the exercise of a power of appointment or}
{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 revocation, or to be diminished by the increase of the class to which he belongs.
\par (2) }{\f0\insrsid14424973 
\par 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (a) The money or asset so paid or applied for the maintenance,}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
education, advancement, or benefit of any person shall not exceed}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 altogether half of the presumptive or vested share or interest of}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
that person in the trust property where the value of that share or}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 interest exceeds $2,000 and in any other case shall not exceed}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
altogether $1,000 in amount or value; and}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (b) Where that person or any other person is or becomes absolutely}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
and indefeasibly entitled to the share of the trust property in which}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 that person had presumptive or vested interest when the money}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
or asset was so paid or applied, that money or asset shall be brought}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 into account as part of that share in the trust property; and
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (c) No such payment or application shall be made so as to prejudice}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
any person entitled to any prior life or other interest, whether vested}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 or contingent, in the money or asset paid or applied unless that}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 person is in existence and of full age and consents in writing to the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 payment or application, or unless the Court, on the application of}{\f0\insrsid14424973  
}{\f0\insrsid8539656\charrsid15419608 the trustee so orders.}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid14424973\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 41A Conditional advances for maintenance}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid14424973\charrsid15419608 
\par }{\f0\insrsid14424973 (1)
\par 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (a) Where a power to pay or apply any property for the maintenance,}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
education, advancement, or benefit of any person, or for any one}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 or more of those purposes, is vested in a trustee, the trustee when}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
exercising the power shall have, and be deemed always to have}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 had, authority to impose on the person any condition, whether as}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
to repayment, payment of interest, giving security, or otherwise.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (b) At any time after imposing any such condition, the trustee may,}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
either wholly or in part, waive the condition or release any}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 obligation undertaken or any security given by reason of the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 condition.

\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (2) In determining the amount or value of the property which a trustee}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 who has imposed such a condition may pay or apply in exercise of the power, any}{
\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 money repaid to the trustee or recovered by him shall be deemed not to have been}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 so paid or applied by the trustee.}{\f0\insrsid8539656 

\par }{\f0\insrsid14424973\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (3) Nothing in this section shall impose upon a trustee any obligation to}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 impose any such condition; and a trustee, when imposing any condition as to}{
\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 giving security as aforesaid, shall not be affected by any restrictions upon the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
investment of trust funds, whether imposed by this Act or by any rule of law or}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 by the trust instrument (if any).
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (4) A trustee shall not be liable for any loss which may be incurred in respect}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
of any money that is paid or applied as aforesaid, whether the loss arises through}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 failure to take security, or through the security being insufficient, or through failure}{\f0\insrsid14424973  }
{\f0\insrsid8539656\charrsid15419608 to take action for its protection, or through the release or abandonment of the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 security without payment, or from any other cause.
\par }{\b\f0\insrsid14424973 
\par }{\b\f0\insrsid8539656\charrsid15419608 42 Protective trusts}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid14424973\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (1) Where any income, including an annuity or other periodical income}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 payment, is directed to be held on protective trusts for the benefit of any person}{
\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 (in this section called the principal beneficiary) for the period of his life or for any}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
less period, then during that period (in this section called the trust period) the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 said income shall, without prejudice to any prior interest, be held on the following}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 trusts, namely \endash 
\par }{\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (a) Upon trust for the principal beneficiary during the trust period or}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
until he, whether before or after the termination of any prior interest,}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 does or attempts to do or suffers any act or thing, or until any event}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 happens, other than an advance under any statutory or express}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 power, whereby, if the said income were payable during the trust}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 period to the principal beneficiary absolutely during that period,}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 he would be deprived of the right to receive the same or any part of}{\f0\insrsid14424973  }
{\f0\insrsid8539656\charrsid15419608 it, in any of which cases, as well as on the termination of the trust}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 period, whichever first happens, this trust of the said income shall}{
\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 fail or determine;}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid14424973\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (b) If the trust aforesaid fails or determines during the subsistence of}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
the trust period, then, during the residue of that period, the said}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 income shall be held upon trust for the application of it for the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
maintenance or support, or otherwise for the benefit, of all or any}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 one or more exclusively of the other or others of the following}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
persons, that is to say \endash }{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid14424973\charrsid15419608 
\par }\pard \ql \li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (i) The principal beneficiary and his or her wife or husband, if}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
any, and his or her children or more remote issue, if any; or
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (ii) If there is no wife or husband or issue of the principal}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
beneficiary in existence, the principal beneficiary and the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 persons who would, if he were actually dead, be entitled to the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
trust property or the income of it or to the annuity fund, if any,}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 or arrears of the annuity, as the case may be;}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
as the trustee in his absolute discretion, without being liable to}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 account for the exercise of such discretion, thinks fit.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (2) This section shall not apply to trusts coming into operation before the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 commencement of this Act, and has effect subject to any variation of the implied}
{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 trusts aforesaid contained in the instrument creating the trust.
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (3) Nothing in this section shall operate to validate any trust which would,}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 if contained in the instrument creating the trust, be liable to be set aside.

\par }{\f0\insrsid14424973 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\b\f0\insrsid8539656\charrsid14424973 PART 4
\par APPOINTMENT AND DISCHARGE OF TRUSTEES
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid14424973\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 43 Power of appointing new trustees}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid14424973\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (1) Where a trustee (whether original or substituted, and whether}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 appointed by the Court or otherwise) \endash }{\f0\insrsid8539656 
\par }{\f0\insrsid14424973\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (a) Is dead; or}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (b) Remains out of Niue for the space of 12 months during which no}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
delegation of any trusts, powers, or discretions vested in him as}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 such trustee remains in operation under section 31; or
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (c) Desires to be discharged from all or any of the trusts or powers}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
reposed in or conferred on him; or
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (d) Refuses to act; or}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (e) Is unfit to act; or}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (f) Is incapable of so acting; or}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (g) Being a corporation, has ceased to carry on business, is in}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
liquidation, or is dissolved, then \endash }{\f0\insrsid14424973  
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 the person nominated for the purpose of appointing new trustees by the instrument}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
(if any) creating the trust, or if there is no such person or no such person able and}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 willing to act, then the surviving or continuing trustees for the time being, or the}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 personal representatives of the last surviving or continuing trustee, may by deed}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 app
oint a person or persons (whether or not being the person or persons exercising}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 the power) to be a trustee or trustees in the place of the first-mentioned trustee.
\par }{\i\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (2) On the appointment of a trustee or trustees for the whole or any part of}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 trust property \endash 
\par }{\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (a) The number of trustees may be increased; and
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (b) A separate set of trustees may be appointed for any part of the trust}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
property held on trusts distinct from those relating to any other}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 part, and whether or not new trustees are or are to be appointed for}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
other parts of the trust property; and any existing trustee may be}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 appointed or remain one of the separate set of trustees; or if only}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
one trustee was originally appointed, then one separate trustee may}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 be so appointed for the first-mentioned part; and
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (c) It shall not be obligatory to appoint more than one new trustee}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
where only one trustee was originally appointed, or to fill up the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 original number of trustees where more than 2 trustees were}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
originally appointed; but, except where only one trustee was}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 originally appointed, a trustee shall not be discharged under this}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
section unless there will be either a trustee corporation or at least}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 two individuals to act as trustees to perform the trust; and
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (d) Any assurance or thing requisite for vesting the trust property, or}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
any part thereof, jointly in the persons who are the trustees shall be}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 executed or done.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (3) Where a trustee has been removed under a power contained in the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 instrument creating the trust, a new trustee or new trustees may be appointed in}{
\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 the place of the trustee who is removed, as if he were dead, or, in the case of a}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
corporation, as if the corporation had been dissolved, and this section shall apply}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 accordingly.
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (4)}{\f0\insrsid14424973 
\par 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (a) The power of appointment given by subsection (1) or any similar}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
previous enactment to the personal representatives of a last}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 surviving or continuing trustee shall be and shall be deemed always}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
to have been exercisable by the executors for the time being (whether}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 original or by representation) of that surviving or continuing trustee}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 who have proved the will of their testator or by the administrators}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 for the time being of that trustee without the concurrence of any}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 executor who has renounced or has not proved.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (b) A sole or last surviving executor intending to renounce, or all the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
executors where they all intend to renounce, shall have and shall}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 be deemed always to have had power, at any time before renouncing}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
probate, to exercise the power of appointment given by this section,}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 or by any similar previous enactment, if willing to act for that}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
purpose and without thereby accepting the office of executor.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (5) Where a sole trustee is or has been originally appointed to act in a trust,}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 or where, in the case of any trust, there are no
t more than three trustees either}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 original or substituted and whether appointed by the Court or otherwise, then}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 and in any such case 
\endash 
\par }{\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (a) The person or persons nominated for the purpose of appointing}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
new trustees by the instrument, if any, creating the trust; or
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (b) If there is no such person, or no such person able and willing to act,}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
then the trustee or trustees for the time being \endash }{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 may, by writing, appoint a person or persons (whether or not being the person or}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 persons exercising the power) to be an additional trustee or additional trustees,}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 but it shall not be obligatory to appoint any additional trustee, unless the}
{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 instrument, if any, creating the trust, or any statutory enactme}{\f0\insrsid14424973 nt provides to the }{\f0\insrsid8539656\charrsid15419608 contrary:
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 Provided that an additional trustee or additional trustees shall not be appointed}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
under this subsection without the consent of \endash }{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid14424973\charrsid15419608 
\par }\pard \ql \li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (a) The trustee or trustees for the time being; or}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973\charrsid15419608 
\par }\pard \ql \li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (b) The Court.}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid14424973\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (6) Every new trustee appointed under this section as well before as after}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 all the trust property becomes by law, or by assurance, or otherwise, vested in}{
\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 him, shall have the same powers, authorities, and discretions, and may in all}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
respects act as if he had been originally appointed a trustee by the instrument, if}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 any, creating the trust.
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (7) The provisions of this section relative to a trustee who is dead include}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 the case of a person nominated trustee whether sole or otherwise in a will, and}
{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 who dies before the testator; and those relative to a continuing trustee include a}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 refusing or retiring trustee, 
if willing to act in the execution of the provisions of}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 this section.
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (8) The provisions of this section relative to a person nominated for the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 purpose of appointing new trustees apply whether the appointment is made in a}{
\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 case specified in this section or in a case specified in the instrument, if any, creating}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
the trust, but where a new trustee is appointed under this section in a case specified}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 in that instrument, the appointment shall be subject to the terms applicable to an}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 appointment in that case under the provisions of that instrument.
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (9) In this section }{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 trustee}{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608  does not include a personal representative as}{\f0\insrsid14424973 
 }{\f0\insrsid8539656\charrsid15419608 such.
\par }{\b\f0\insrsid14424973 
\par }{\b\f0\insrsid8539656\charrsid15419608 44 Evidence as to a vacancy in a trust}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid14424973\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (1) A statement contained in any instrument coming into operation after}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 the commencement of this Act by which a new trustee is appointed for any purpose}{
\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 connected with land as to how a vacancy in the office of trustee occurred shall, in}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
favour of a purchaser of the land, be conclusive evidence of the matter stated.
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (2) In favour of any such purchaser any appointment of a new trustee}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 depending on that statement, and any vesting declaration, express or implied,}{
\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 consequent on the appointment, shall be valid.
\par }{\b\f0\insrsid14424973 
\par }{\b\f0\insrsid8539656\charrsid15419608 45 Retirement of trustee}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid14424973\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (1) Where there are 2 or more trustees \endash 
\par }{\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (a) If one of them by deed declares that he is desirous of being}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
discharged from the trust, and
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (b) If his co-trustees and such other person (if any) as is empowered to}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
appoint trustees by deed consent to the discharge of the trustee,}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 and to the vesting of the trust property in the co-trustees alone \endash }{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 then, subject to subsection (3), the trustee desirous of being discharged shall be}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
deemed to have retired from the trust, and shall by deed be discharged from it}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 under this Act without any new trustee being appointed in his place.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (2) Any assurance or thing requisite for vesting the trust property in the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 continuing trustees alone shall be executed and done.
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (3) Except where only one trustee was originally appointed, a trustee shall}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 not be discharged under subsection (1) unless there will be either a trustee}{
\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 corporation or at least 2 individuals to act as trustees to perform the trust.}{\f0\insrsid8539656 
\par }{\f0\insrsid14424973\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 46 Discharge of trustee}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid14424973\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (1) Where any trustee is desirous of being discharged from his trust he}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 shall be entitled to retire from it on passing his accounts before the Registrar, and
}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 giving notice of his retirement to his co-trustees (if any), and to such other person}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
(if any) as is empowered to appoint new trustees.}{\f0\insrsid8539656 
\par }{\f0\insrsid14424973\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (2) If such co-trustees, or such other person, as aforesaid empowered to}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 appoint new trustees, or any of them, refuse or neglect to appoint a new trustee or}
{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 to consent to such appointment in place of the trustee so retiring, or if the retiring}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 trustee is t
he sole trustee having power to appoint a new trustee, but the exercise}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 of that power is impracticable or difficult without the assistance of the Court, it}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 shall be lawful for the retiring trustee to apply to the Court for the appointment of}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 a new trustee in his place.
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (3) The Court may, upon any such application, make an order appointing}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 some proper person as trustee in place of the trustee so desirous of being discharged}
{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 from his trust, and direct any accounts and inquiries to be made, and make an}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 order 
discharging the trustee from the trust and from all liability in respect of it,}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 and may make such order as to costs or otherwise as it thinks fit, and may exercise}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 any of the powers contained in Part 5 and the person who upon the making of the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 order becomes trustee shall have the same rights and powers as he would have}{
\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 had if appointed by judgment in an action duly instituted.}{\f0\insrsid8539656 
\par }{\f0\insrsid14424973\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 47 Vesting of trust property in new or continuing trustees
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (1) Where by a deed a new trustee is appointed to perform any trust then \endash 
\par }{\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (a) If the deed contains a declaration by the appointor to the effect that}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
any estate or interest in any land that is subject to the trust or in any}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 chattel so subject, or the right to recover or receive any debt or other}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 thing in action so subject, shall vest in the persons who by virtue of}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 the deed become or are the trustees for performing the trust, the}{\f0\insrsid14424973  
}{\f0\insrsid8539656\charrsid15419608 deed shall operate, without any conveyance or assignment, to vest}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 in those persons as joint tenants and for the purposes of the trust}{\f0\insrsid14424973  }
{\f0\insrsid8539656\charrsid15419608 the estate or interest or right to which the declaration relates; and
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (b) If the deed is made after the commencement of this Act and does}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
not contain such a declaration, the deed shall, subject to any express}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 provision to the contrary in it contained, operate as if it had}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
contained such a declaration by the appointed extending to all the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 estates, interests, and rights with respect to which a declaration}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
could have been made.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (2) Where by a deed a retiring trustee is discharged under the statutory}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 power without a new trustee being appointed, then \endash 
\par }{\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (a) If the deed contains such a declaration as aforesaid by the retiring}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
and continuing trustees, and by the other person (if any) empowered}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 to appoint trustees, the deed shall, without any conveyance or}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
assignment, operate to vest in the continuing trustees alone, as joint}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 tenants, and for the purposes of the trust, the estate or interest or}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 right to which the declaration relates; and
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (b) If the deed is made after the commencement of this Act and does}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
not contain such a declaration, the deed shall, subject to any express}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 provision to the contrary in it contained, operate as if it had}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
contained such a declaration by such persons as aforesaid extending}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 to all the estates, interests, and rights with respect to which a}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
declaration could have been made.}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid14424973\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (3) An express vesting declaration, whether made before or after the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 commencement of this Act shall, notwithstanding that the estate or interest or}{
\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 right to be vested is not expressly referred to, and provided that the other statutory}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
requirements were or are complied with, operate and be deemed always to have}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 operated (but without prejudice to any express provision to the contrary contained}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 in the deed of appointment or discharge) to vest in the persons respectively referred}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
to in subsections (1) and (2), as the case may require, such estates, interests, and}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 rights as are capable of being and ought to be vested in those persons.}{\f0\insrsid8539656 
\par }{\f0\insrsid14424973\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (4) This section does not extend \endash }{\f0\insrsid8539656 
\par }{\f0\insrsid14424973\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (a) To land conveyed by way of mortgage for securing money subject}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
to the trust, except land conveyed on trust for securing debentures}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 or debenture stock;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (b) To land held under a lease (including a sublease and an agreement}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 for a l
ease or sublease) which contains any covenant, condition, or}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 agreement against assignment or disposing of the land without}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
licence or consent, unless (before the execution of the deed}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 containing expressly or impliedly the vesting declaration) the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 requisite
 licence or consent has been obtained, or unless (by virtue}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 of any statute or rule of law) the vesting declaration, express or}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
implied, would not operate as a breach of covenant or give rise to a}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 forfeiture;}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (c) To any share, stock, annuity, or property which is transferable only}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
in books kept by a company or other body, or in the manner directed}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 by or under any Act.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (5) For purposes of registration of the deed in any registry, the person or}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 persons making the declaration expressly or impliedly shall be deemed the}{
\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 conveying party or parties, and the conveyance shall be deemed to be made by}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 him or them under a power conferred by this Act.
\par }{\b\f0\insrsid14424973 
\par }{\b\f0\insrsid8539656\charrsid15419608 48 Corporations acting as trustees}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid14424973\charrsid15419608 
\par }{\f0\insrsid14424973 (1)
\par 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (a) Any trustee corporation may be appointed and may lawfully act as}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
the sole trustee in respect of any trust, notwithstanding that the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 instrument creating the trust may provide for or direct the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
appointment of 2 or more trustees.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (b) Nothing in this subsection shall prevent any other corporation from}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
acting as a trustee under any authority vested in it in that behalf,}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 whether by its memorandum of association or otherwise.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (c) No corporation shall administer the estate of any deceased person}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
unless expressly authorised to do so by any Act.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (2) This section shall not permit the appointment of a corporation as trustee}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
if the instrument creating the trust forbids the appointment of the corporation.
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (3) This section shall extend to all trusts and instruments, and to all}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 appointments of trustees, whether created or made before or after the}{
\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 commencement of this Act.
\par }{\b\f0\insrsid14424973 
\par }{\b\f0\insrsid8539656\charrsid15419608 49 Advisory trustees}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid14424973\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (1) In the administration of any trust property any trustee may act, to }{\f0\insrsid10292966\charrsid15419608 the}{\f0\insrsid10292966  extent}{\f0\insrsid8539656\charrsid15419608 
 hereinafter provided, with an advisory trustee, which term includes, in its}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 application to the estate of a mentally defective person, an advisory committee or}{\f0\insrsid14424973  }{
\f0\insrsid10292966\charrsid15419608 advisory }{\f0\insrsid10292966 administrator}{\f0\insrsid8539656\charrsid15419608  of the estate.}{\f0\insrsid8539656 
\par }{\f0\insrsid14424973\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (2) An advisory trustee may be appointed in respect of all or any part of}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 the trust property \endash }{\f0\insrsid8539656 
\par }{\f0\insrsid14424973\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (a) By the testator, settlor, or other creator of the trust, in the instrument}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
creating the trust; or
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (b) By order of the Court made on the application of any beneficiary or}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
trustee or of any person on whose application the Court would}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 have power to appoint a new trustee; or
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (c) By the responsible trustee or any person having power to appoint a}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
new trustee; or
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\i\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (d) In respect of the estate of a mentally defective person, by order of}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
the Court made on the application of the committee or person}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 authorised to administer the estate.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (3) Where a trustee acts with an advisory trustee the trust property shall}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
be vested in the first-mentioned trustee (in this section referred to as the responsible}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 trustee), who shall have the sole management and administration of the estate}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 and its trusts as fully and effectually as if he were the sole trustee:
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 Provided that \endash }{\f0\insrsid8539656 
\par }{\f0\insrsid14424973\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (a) The responsible trustee may consult the advisory trustee on any}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
matter relating to the trusts or the estate;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (b) The advisory trustee may advise the responsible trustee on any}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
matter relating to the trusts or the estate, but shall not be a trustee}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 in respect of the trust;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (c) Where any advice or direction is tendered or given by the advisory}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
trustee, the responsible trustee may follow the same and act on it}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 and shall not be liable for anything done or omitted by him by reason}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 of his following that advice or direction;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (d) In any case where the responsible trustee is of opinion that such}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
advice or direction conflicts with the trusts or any rule of law, or}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 exposes him to any liability, or is otherwise objectionable, he may}{\f0\insrsid14424973  }{
\f0\insrsid8539656\charrsid15419608 apply to the Court for directions in the matter, and the decision}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 and order in it shall be final and shall bind the responsible trustee}{\f0\insrsid14424973  }
{\f0\insrsid8539656\charrsid15419608 and the advisory trustee, and the court may make such order as to}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 costs as appears proper:
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid10242844 {\f0\insrsid8539656\charrsid15419608 Provided that nothing in this paragraph shall make it necessary for}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
the responsible trustee to apply to the Court for any such directions.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424973 {\f0\insrsid14424973 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid14424973 {\f0\insrsid8539656\charrsid15419608 (e) Where advisory trustees are not unanimous, and tender to the}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 
responsible trustee conflicting advice or directions, the responsible}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 trustee may similarly apply to the Court for directions;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (4) No person dealing with the responsible trustee in relation to any trust}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 property shall be concerned to inquire as to the concurrence or otherwise of the}
{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 advisory trustee, or be affected by notice of the fact that the advisory trustee has}{\f0\insrsid14424973  }{\f0\insrsid8539656\charrsid15419608 not concurred.
\par }{\f0\insrsid14424973 
\par }{\f0\insrsid8539656\charrsid15419608 (5) Subject to the provisions of the instrum}{\f0\insrsid4988518 ent (if any) creating the trust }{\f0\insrsid8539656\charrsid15419608 and to any order made by the Court, in any case where remuneration is }{
\f0\insrsid10292966\charrsid15419608 payable to}{\f0\insrsid8539656\charrsid15419608  the trustee of any trust property, remuneration or commission may be paid to}{\f0\insrsid4988518  }{\f0\insrsid8539656\charrsid15419608 
both the responsible trustee and the advisory trustee, and subject as aforesaid the}{\f0\insrsid4988518  }{\f0\insrsid8539656\charrsid15419608 amount of it shall be determined by the responsible trustee if he is entitled to fix}{\f0\insrsid4988518  }{
\f0\insrsid8539656\charrsid15419608 his own remuneration, or by the Court.
\par }{\b\f0\insrsid4988518 
\par }{\b\f0\insrsid8539656\charrsid15419608 50 Custodian trustees}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid4988518\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (1) Subject to this section and to the instrument (if any) creating the trust,}{\f0\insrsid4988518  }{\f0\insrsid8539656\charrsid15419608 
any corporation may be appointed to be custodian trustee of any trust in any case}{\f0\insrsid4988518  }{\f0\insrsid8539656\charrsid15419608 where it could be appointed to be trustee, in the same manner as it could be so}{\f0\insrsid4988518  }{
\f0\insrsid8539656\charrsid15419608 appointed.
\par }{\f0\insrsid4988518 
\par }{\f0\insrsid8539656\charrsid15419608 (2) Subject to the provisions of the instrument (if any) creating the trust,}{\f0\insrsid4988518  }{\f0\insrsid8539656\charrsid15419608 where a custodian trustee is appointed of any trust \endash 
\par }{\f0\insrsid4988518 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid4988518 {\f0\insrsid8539656\charrsid15419608 (a) The trust property shall be vested in the custodian trustee as if the}{\f0\insrsid4988518  }{\f0\insrsid8539656\charrsid15419608 
custodian trustee were sole trustee, and for that purpose vesting}{\f0\insrsid4988518  }{\f0\insrsid8539656\charrsid15419608 orders may, where necessary, be made under this Act;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid4988518 {\f0\insrsid4988518 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid4988518 {\f0\insrsid8539656\charrsid15419608 (b) The management of the trust property and the exercise of all powers}{\f0\insrsid4988518  }{\f0\insrsid8539656\charrsid15419608 
and discretions exercisable by the trustee under the trust shall}{\f0\insrsid4988518  }{\f0\insrsid8539656\charrsid15419608 remain vested in the managing trustees as fully and effectually as}{\f0\insrsid4988518  }{\f0\insrsid8539656\charrsid15419608 
if there were no custodian trustee;}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid4988518 {\f0\insrsid4988518\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid4988518 {\f0\insrsid8539656\charrsid15419608 (c) The sole function of the custodian trustee shall be to get in and}{\f0\insrsid4988518  }{\f0\insrsid8539656\charrsid15419608 
hold the trust property, and invest its funds, and dispose of the}{\f0\insrsid4988518  }{\f0\insrsid8539656\charrsid15419608 assets, as the managing trustees in writing direct, for which purpose}{\f0\insrsid4988518  }{\f0\insrsid8539656\charrsid15419608 
the custodian trustee shall execute all such documents and perform}{\f0\insrsid4988518  }{\f0\insrsid8539656\charrsid15419608 all such acts as the managing trustees in writing direct;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid4988518 {\f0\insrsid4988518 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid4988518 {\f0\insrsid8539656\charrsid15419608 (d) For the purposes of paragraph (c) a direction given by the majority}{\f0\insrsid4988518  }{\f0\insrsid8539656\charrsid15419608 
of the managing trustees where there are more than one, shall be}{\f0\insrsid4988518  }{\f0\insrsid8539656\charrsid15419608 deemed to be given by all the managing trustees;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid4988518 {\f0\insrsid4988518 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid4988518 {\f0\insrsid8539656\charrsid15419608 (e) The custodian trustee shall not be liable for acting on any such}{\f0\insrsid4988518  }{\f0\insrsid8539656\charrsid15419608 direction:

\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid4988518 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid4988518 {\f0\insrsid8539656\charrsid15419608 Provided that if the custodian trustee is of opinion that any such}{\f0\insrsid4988518  }{\f0\insrsid8539656\charrsid15419608 
direction conflicts with the trusts or the law, or exposes the custodian}{\f0\insrsid4988518  }{\f0\insrsid8539656\charrsid15419608 trustee to any liability, or is otherwise objectionable, the custodian}{\f0\insrsid4988518  }{
\f0\insrsid8539656\charrsid15419608 trustee may apply to the Court for directions under section 66; and}{\f0\insrsid4988518  }{\f0\insrsid8539656\charrsid15419608 any order giving any such directions shall bind both the custodian}{\f0\insrsid4988518  }{
\f0\insrsid8539656\charrsid15419608 trustee and the managing trustees; and the Court may make such}{\f0\insrsid4988518  }{\f0\insrsid8539656\charrsid15419608 order as to costs as it thinks proper;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid4988518 {\f0\insrsid4988518 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid4988518 {\f0\insrsid8539656\charrsid15419608 (f) The custodian trustee shall not be liable for any act or default on}{\f0\insrsid4988518  }{\f0\insrsid8539656\charrsid15419608 
the part of any of the managing trustees;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid4988518 {\f0\insrsid4988518 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid4988518 {\f0\insrsid8539656\charrsid15419608 (g) All actions and proceedings touching or concerning the trust}{\f0\insrsid4988518  }{\f0\insrsid8539656\charrsid15419608 
property shall be brought or defended in the name of the custodian}{\f0\insrsid4988518  }{\f0\insrsid8539656\charrsid15419608 trustee at the written direction of the managing trustees, and the}{\f0\insrsid4988518  }{\f0\insrsid8539656\charrsid15419608 
custodian trustee shall not be liable for the costs of it apart from the}{\f0\insrsid4988518  }{\f0\insrsid8539656\charrsid15419608 trust property;}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid4988518 {\f0\insrsid4988518\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid4988518 {\f0\insrsid8539656\charrsid15419608 (h) No person dealing with the custodian trustee shall be concerned to}{\f0\insrsid4988518  }{\f0\insrsid8539656\charrsid15419608 
inquire as to the concurrence or otherwise of the managing trustees,}{\f0\insrsid4988518  }{\f0\insrsid8539656\charrsid15419608 or be affected by notice of the fact that the managing trustees have}{\f0\insrsid4988518  }{
\f0\insrsid8539656\charrsid15419608 not concurred;}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid4988518 {\f0\insrsid4988518\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid4988518 {\f0\insrsid8539656\charrsid15419608 (i) The power of appointing new trustees, when exercisable by the}{\f0\insrsid4988518  }{\f0\insrsid8539656\charrsid15419608 
trustee, shall be exercisable by the managing trustees alone, but the}{\f0\insrsid4988518  }{\f0\insrsid8539656\charrsid15419608 custodian trustee shall have the same power as any other trustee of}{\f0\insrsid4988518  }{
\f0\insrsid8539656\charrsid15419608 applying to the Court for the appointment of a new trustee.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid4988518 
\par }{\f0\insrsid8539656\charrsid15419608 (3) On the application of the custodian trustee, or of any of the managing}{\f0\insrsid4988518  }{\f0\insrsid8539656\charrsid15419608 trustees, or of any beneficiary, and on satisfactory proof that it is the general }
{\f0\insrsid10292966\charrsid15419608 wish of}{\f0\insrsid8539656\charrsid15419608  the beneficiaries, or that on other grounds it is expedient to terminate the}{\f0\insrsid4988518  }{\f0\insrsid8539656\charrsid15419608 
custodian trusteeship, the Court may make an order for that purpose, and may}{\f0\insrsid4988518  }{\f0\insrsid8539656\charrsid15419608 also make such vesting orders and give such directions as in the circumstances}{\f0\insrsid4988518  }{
\f0\insrsid8539656\charrsid15419608 seem to the Court to be necessary or expedient.
\par }{\f0\insrsid4988518 
\par }{\f0\insrsid8539656\charrsid15419608 (4) Subject to the provisions of the instrument (if any) creating the trust}{\f0\insrsid4988518  }{\f0\insrsid8539656\charrsid15419608 and to any order made by the Court, in any case where remuneration or}{
\f0\insrsid4988518  }{\f0\insrsid8539656\charrsid15419608 commission is payable to the trustee of any trust property, remuneration may be}{\f0\insrsid4988518  }{\f0\insrsid8539656\charrsid15419608 
paid to both the custodian trustee and the managing trustees, and subject as}{\f0\insrsid4988518  }{\f0\insrsid8539656\charrsid15419608 aforesaid the amount of it shall be determined by the managing trustees if they}{\f0\insrsid4988518  }{
\f0\insrsid8539656\charrsid15419608 are entitled to fix their own remuneration or by the Court.
\par }{\i\f0\insrsid4988518 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid4988518 {\b\f0\insrsid8539656\charrsid4988518 PART 5
\par POWERS OF THE COURT
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid4988518\charrsid15419608 
\par }{\i\f0\insrsid8539656\charrsid15419608 Appointment of New Trustees}{\i\f0\insrsid8539656 
\par }{\i\f0\insrsid4988518\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 51 Power of Court to appoint new trustees}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid4988518\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (1) The Court may, whenever it is expedient to appoint a new trustee or}{\f0\insrsid4988518  }{\f0\insrsid8539656\charrsid15419608 
new trustees, and it is found inexpedient, difficult, or impracticable so to do without}{\f0\insrsid4988518  }{\f0\insrsid8539656\charrsid15419608 the assistance of the Court, make an order appointing a new trustee or new trustees,}{\f0\insrsid4988518  }{
\f0\insrsid8539656\charrsid15419608 either in substitution for or in addition to any existing trustee or trustees, or}{\f0\insrsid4988518  }{\f0\insrsid8539656\charrsid15419608 although there is no existing trustee.
\par }{\f0\insrsid4988518 
\par }{\f0\insrsid8539656\charrsid15419608 (2) In particular and without prejudice to the generality of subsection (1),}{\f0\insrsid4988518  }{\f0\insrsid8539656\charrsid15419608 
the Court may make an order appointing a new trustee in substitution for a trustee}{\f0\insrsid4988518  }{\f0\insrsid8539656\charrsid15419608 who \endash 
\par }{\f0\insrsid4988518 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (a) Has been held by the Court to have misconducted himself in the}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
administration of the trust; or
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (b) Is convicted, whether summarily or on indictment, of a crime}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
involving dishonesty; or}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (c) Is a mentally defective person; or}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (d) Is a bankrupt; or}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (e) Is a corporation which has ceased to carry on business, or is in}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
liquidation, or has been dissolved.}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid10303831\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (3) An order under this section and any consequential vesting order or}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 conveyance, shall not operate further or otherwise as a discharge to any former or}{
\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 continuing trustee than an appointment of new trustees under any power for that}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 purpose contained in any instrument would have operated.

\par }{\f0\insrsid10303831 
\par }{\f0\insrsid8539656\charrsid15419608 (4) Nothing in this section shall give power to appoint an executor or}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 administrator.
\par }{\f0\insrsid10303831 
\par }{\f0\insrsid8539656\charrsid15419608 (5) Every trustee appointed by the Court shall, as well before as after the}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 trust property becomes by law, or by assurance, or otherwise, vested in him, have
}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 the same powers, authorities, and discretions, and may in all respects act as if he}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 had been originall
y appointed a trustee by the instrument, if any, creating the}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 trust.}{\f0\insrsid8539656 
\par }{\f0\insrsid10303831\charrsid15419608 
\par }{\i\f0\insrsid8539656\charrsid15419608 Vesting Orders}{\i\f0\insrsid8539656 
\par }{\i\f0\insrsid10303831\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 52 Vesting orders of land}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid10303831\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (1) Subject to subsections (2) and (3) in any of the following cases, namely \endash 
\par }{\f0\insrsid10303831 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (a) Where the Court appoints or has appointed a trustee of any land or}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
interest in it, or where a trustee of any land or interest in it has been}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 appointed out of Court under any statutory or express power;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (b) Where a trustee entitled to or possessed of any land or interest in it,}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
whether by way of mortgage or otherwise, or entitled to a contingent}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 right in it, either solely or jointly with any other person \endash }{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid10303831\charrsid15419608 
\par }\pard \ql \li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (i) Is under disability; or}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831\charrsid15419608 
\par }\pard \ql \li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (ii) Is out of the jurisdiction of the Court; or}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831\charrsid15419608 
\par }\pard \ql \li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (iii) Cannot be found; or}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831\charrsid15419608 
\par }\pard \ql \li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (iv) Being a corporation, has ceased to carry on business or is in}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
liquidation or has been dissolved;}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid10303831\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (c) Where it is uncertain who was the survivor of 2 or more trustees}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
jointly entitled to or possessed of any interest in land;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (d) Where it is uncertain whether the last trustee known to have been}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
entitled to or possessed of any interest in land is alive or dead;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (e) Where there is no personal representative of a deceased trustee who}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
was entitled to or possessed of any interest in land, or where it is}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 uncertain who is the personal representative of a deceased trustee}{\f0\insrsid10303831  }{
\f0\insrsid8539656\charrsid15419608 who was entitled to or possessed of any interest in land;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (f) Where a deceased person was entitled to or possessed of any interest}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
in land and his personal representative is under disability;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (g) Where a trustee jointly or solely entitled to or possessed of any}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
interest in land, or entitled to a contingent right in it, has been}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 required, by or on behalf of a person entitled to require a conveyance}{\f0\insrsid10303831  }{
\f0\insrsid8539656\charrsid15419608 of the land or interest or a release of the right, to convey the land or}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 interest or to release the right, and has wilfully refused or neglected}{
\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 to convey the land or interest or release the right for 28 days after}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 the date of the requirement;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (h) Where land or any interest in it is vested in a trustee whether by}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
way of mortgage or otherwise, and it appears to the Court to be}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 expedient \endash 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid10303831 
\par }{\f0\insrsid8539656\charrsid15419608 the Court may make an order (in this Act called a vesting order) vesting the land}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 or interest in it in any such person in any such manne
r and for any such estate or}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 interest as the Court may direct, or releasing or disposing of the contingent right}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
to such person as the Court may direct.
\par }{\f0\insrsid10303831 
\par }{\f0\insrsid8539656\charrsid15419608 (2) Where any such order is consequential on the appointment of a trustee,}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
the land or interest in it shall be vested for such estate as the Court may direct in}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 the persons who on the appointment are the trustees.
\par }{\f0\insrsid10303831 
\par }{\f0\insrsid8539656\charrsid15419608 (3) Where any such order relates to a trustee entitled or formerly entitled}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 jointly with another person, and that trustee is under disability or out of the}{
\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 jurisdiction of the Court or cannot be found, or (being a corporation) has ceased}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
to carry on business or is in liquidation or has been dissolved, the land, interest, or}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 right shall be vested in the other person who remains entitled, either alone or}{\f0\insrsid10303831  }{
\f0\insrsid8539656\charrsid15419608 with any other person that the Court may appoint.}{\f0\insrsid8539656 
\par }{\f0\insrsid10303831\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 53 Contingent rights of unborn persons}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid10303831\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 Where any interest in land is subject to a contingent right in an unborn}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 person or class of unborn persons who, on coming into existence would, in respect}{
\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 of it, become entitled to or possessed of that interest on any trust, the Court may}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
make an order releasing the land or interest in it from the contingent right, or may}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 make an order vesting in any person the estate or interest to or of which the unborn}{\f0\insrsid10303831  }{
\f0\insrsid8539656\charrsid15419608 person or class of unborn persons would, on coming into existence, be entitled or}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 possessed in the land.
\par }{\b\f0\insrsid10303831 
\par }{\b\f0\insrsid8539656\charrsid15419608 54 Vesting order in place of conveyance by infant mortgagee
\par }{\f0\insrsid10303831 
\par }{\f0\insrsid8539656\charrsid15419608 Where any person entitled to or possessed of any interest in land, or entitled}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
to a contingent right in land, by way of security for money, is an infant, the Court}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 may make an order vesting or releasing or disposing of the interest in the land or}{\f0\insrsid10303831  }{
\f0\insrsid8539656\charrsid15419608 the right in like manner as in the case of a trustee under disability.
\par }{\b\f0\insrsid10303831 
\par }{\b\f0\insrsid8539656\charrsid15419608 55 Vesting order consequential on order for sale or mortgage of land}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid10303831\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 Where the Court gives a judgment or makes an order directing the sale or}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 mortgage of any land, every person who is entitled to or possessed of any interest}{
\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 in the land, or entitled to a contingent right in it, and is a party to the action or}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
proceeding in which the judgment or order is given or made or is otherwise bound}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 by the judgment or order, shall be deemed to be so entitled or possessed, as the}{\f0\insrsid10303831  }{
\f0\insrsid8539656\charrsid15419608 case may be, as a trustee for the purposes of this Act, and the Court may if it}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
thinks expedient make an order vesting the land or any part of it for such estate or}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 interest as the Court thinks fit in the purchaser or mortgagee or in any other person.
\par }{\i\f0\insrsid10303831 
\par }{\b\f0\insrsid8539656\charrsid15419608 56 Vesting order consequential on judgment for specific performance}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid10303831\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 Where a judgment is given for the specific performance of a contract}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 concerning any interest in land, or for sale or exchange of any interest in land, or}{
\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 generally where any judgment is given for the conveyance of any interest in land,}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
either in cases arising out of the doctrine of election or otherwise, the Court may}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 declare \endash 
\par }{\f0\insrsid10303831 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (a) That any of the parties to the action are trustees of any interest in}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
the land or any part of it within the meaning of this Act; or
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (b) That the interests of unborn persons who might claim under any}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
party to the action, or under the will or voluntary settlement of any}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 deceased person who was during his lifetime a party to the contract}{\f0\insrsid10303831  }{
\f0\insrsid8539656\charrsid15419608 or transaction concerning which the judgment is given, are the}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 interests of persons who, on coming into existence, would be}{\f0\insrsid10303831  }{
\f0\insrsid8539656\charrsid15419608 trustees within the meaning of this Act \endash }{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid10303831\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 and thereupon the Court may make a vesting order relating to the rights of those}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 persons, born and unborn, as if they had been trustees.}{\f0\insrsid8539656 

\par }{\f0\insrsid10303831\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 57 Effect of vesting order}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid10303831\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 A vesting order under sections 52 to 56 shall, in the case of a vesting order}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 consequential on the appointment of a trustee, have the same effect \endash 

\par }{\f0\insrsid10303831 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10242844 {\f0\insrsid8539656\charrsid15419608 (a) As if the persons who before the appointment were the trustees, if}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
any, had duly executed all proper conveyances of the land for such}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 estate or interests as the Court directs; or
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10242844 {\f0\insrsid10303831 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10242844 {\f0\insrsid8539656\charrsid15419608 (b) If there is no such person or no such person of full age and full}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 me
ntal capacity, as if such person had existed and been of full age}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 and full mental capacity and had duly executed all proper}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
conveyances of the land for such estate or interest as the Court}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 directs;}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 and shall in every other case have the same effect 
as if the trustee or other person}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 or description or class of persons to whose rights or supposed rights the said}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
provisions respectively relate had been an ascertained and existing person of full}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 age and full mental capacity and had executed a conveyance or release to the}{\f0\insrsid10303831  }{
\f0\insrsid8539656\charrsid15419608 effect intended by the order.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\b\f0\insrsid10303831 
\par }{\b\f0\insrsid8539656\charrsid15419608 58 Power to appoint person to convey}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid10303831\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 In all cases where a vesting order can be made under section 52 to 56, the}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 Court may, if it is more convenient, appoint a person to convey the land or any}{
\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 interest in it or release the contingent right, and a conveyance, or release by that}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
person in conformity with the order shall have the same effect as an order under}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 the appropriate provision.}{\f0\insrsid8539656 
\par }{\f0\insrsid10303831\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 59 Vesting orders as to stock and things in action}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid10303831\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (1) Subject to subsections (2), (3) and (4) in any of the following cases,}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 namely \endash 
\par }{\f0\insrsid10303831 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (a) Where the Court appoints or has appointed a trustee, or where a}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
trustee has been appointed out of Court under any statutory or}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 express power;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (b) Where a trustee entitled, whether by way of mortgage or otherwise,}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
alone or jointly with another person to stock or to a thing in action \endash }{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid10303831\charrsid15419608 
\par }\pard \ql \li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (i) Is under disability; or}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831\charrsid15419608 
\par }\pard \ql \li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (ii) Is out of the jurisdiction of the Court; or}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831\charrsid15419608 
\par }\pard \ql \li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (iii) Cannot be found; or}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831\charrsid15419608 
\par }\pard \ql \li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (iv) Being a corporation, has ceased to carry on business or is in}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
liquidation or has been dissolved; or}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831\charrsid15419608 
\par }\pard \ql \li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (v) Neglects or refuses to transfer stock or receive the dividends}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
or income of it, or to sue for or recover a thing in action, under}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 the direction of the person absolutely entitled to it for 28 days}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
next after a request in writing has been made to him by the}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 person so entitled; or
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831 
\par }\pard \ql \li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (vi) Neglects or refuses to transfer stock or receive the dividends}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
or income of it or to sue for or recover a thing in action for 28}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 days next after an order of the Court for that purpose has been}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
served on him;}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid10303831\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (c) Where it is uncertain who was the survivor of 2 or more trustees}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
entitled to stock or to a thing in action;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (d) Where it is uncertain whether a trustee entitled alone or jointly with}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
another person to stock or to a thing in action is alive or dead;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (e) Where there is no personal representative of a deceased person}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
entitled to stock or to a thing in action or where it is uncertain who}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 is the personal representative of a deceased person who is entitled}{\f0\insrsid10303831   }{
\f0\insrsid8539656\charrsid15419608 to stock or to a thing in action;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (f) Where stock is standing in the name of a deceased person whose}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
personal representative is under disability;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (g) Where stock or a thing in action is vested in a trustee whether by}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
way of mortgage or otherwise and it appears to the Court to be}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 expedient \endash }{\f0\insrsid10303831 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid10303831 
\par }{\f0\insrsid8539656\charrsid15419608 the Court may make an order vesting the right to transfer or call for a transfer of}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
stock, or to receive the dividends or income of it, or to sue for or recover the thing}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 in action in any person as the Court may appoint.}{\f0\insrsid8539656 
\par }{\f0\insrsid10303831\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (2) Where any such order is consequential on the appointment of a trustee,}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
the right shall be vested in the persons who, on the appointment, are the trustees.
\par }{\f0\insrsid10303831 
\par }{\f0\insrsid8539656\charrsid15419608 (3) Where the person whose right is dealt with by any such order was}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 entitled jointly with another person, the right shall be vested in that last-mentioned}{
\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 person either alone or jointly with any other person whom the Court may appoint.
\par }{\f0\insrsid10303831 
\par }{\f0\insrsid8539656\charrsid15419608 (4) No such order shall be made vesting shares that are not fully paid up}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 in any person unless he applies for the order or consents to the making of the}{
\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 order.
\par }{\f0\insrsid10303831 
\par }{\f0\insrsid8539656\charrsid15419608 (5) In all cases, where a vesting order can be made under this section, the}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 Court may, if it is more convenient, 
appoint some proper person to make or join in}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 making the transfer; and without restricting the powers of the Court under this}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
subsection it is hereby declared that the person appointed to make or join in making}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 a transfer of stock may be some proper officer of the bank or company or society}{\f0\insrsid10303831  }{
\f0\insrsid8539656\charrsid15419608 or association in whose books the stock is to be transferred.
\par }{\f0\insrsid10303831 
\par }{\f0\insrsid8539656\charrsid15419608 (6) The person in whom the right to transfer or call for the transfer of any}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 stock is vested by an order of the Court under this Act may transfer the stock t
o}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 himself or any other person under the order, and all banks, societies, associations,}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
companies, and persons shall obey every order under this section under its tenor.
\par }{\f0\insrsid10303831 
\par }{\f0\insrsid8539656\charrsid15419608 (7) After notice in writing of an order made under this section it shall not}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 be lawful for any bank, society, association, company, or person to transfer any
}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 stock to which the order relates or to pay any dividends on it except under the}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 order.
\par }{\f0\insrsid10303831 
\par }{\f0\insrsid8539656\charrsid15419608 (8) The Court may make declarations and give directions concerning the}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 manner in which the right to transfer any stock or thing in action vested under}{
\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 this Act is to be exercised.
\par }{\i\f0\insrsid10303831 
\par }{\b\f0\insrsid8539656\charrsid15419608 60 Vesting orders in respect of shares in ships and industrial property
\par }{\f0\insrsid10303831 
\par }{\f0\insrsid8539656\charrsid15419608 The provisions of this Act as to vesting orders shall apply to shares in ships}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 registered
 in Niue and to any intellectual property rights, as if they were stock.
\par }{\b\f0\insrsid10303831 
\par }{\b\f0\insrsid8539656\charrsid15419608 61 Vesting orders of charity property}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid10303831\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 The powers conferred by this Act as to vesting orders may be exercised for}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 vesting any interest in any land, stock, or thing in action in any t
rustee of a charity}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 or society over which the Court would have jurisdiction upon action duly}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
instituted, whether the appointment of the trustee was made by instrument under}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 a power or by the Court under its general or statutory jurisdiction.
\par }{\b\f0\insrsid10303831 
\par }{\b\f0\insrsid8539656\charrsid15419608 62 Orders made upon certain allegations to be conclusive evidence
\par }{\f0\insrsid10303831 
\par }{\f0\insrsid8539656\charrsid15419608 Where a vesting order is made as to any land under this Act or under any}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 other Act founded on an allegation of any of the following matters, namely \endash 

\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (a) The personal incapacity of a trustee or mortgagee; or
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (b) That a trustee or mortgagee or the personal representative of or}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
other person deriving title under a trustee or mortgagee is out of}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 the jurisdiction of the Court or cannot be found, or (being a}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
corporation) has ceased to carry on business or is in liquidation or}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 has been dissolved; or
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (c) That it is uncertain which of 2 or more trustees, or which of 2 or}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
more persons interested in a mortgage, was the survivor; or
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (d) That it is uncertain whether the last trustee or the personal}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
representative of or other person deriving title under a trustee or}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 mortgagee, or the last surviving person interested in a mortgage is}{\f0\insrsid10303831  }{
\f0\insrsid8539656\charrsid15419608 living or dead; or}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (e) That any trustee or mortgagee has died intestate without leaving a}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
person beneficially interested under the intestacy or has died and}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 it is not known who is his personal representative or the person}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
interested \endash }{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid10303831\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 the fact that the order has been so made shall be conclusive evidence of the matter}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 so alleged in a
ny Court upon any question as to the validity of the order; but this}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 section shall not prevent the Court from directing a reconveyance or surrender or}{\f0\insrsid10303831  }{
\f0\insrsid8539656\charrsid15419608 the payment of costs occasioned by any such order if improperly obtained.
\par }{\b\f0\insrsid10303831 
\par }{\b\f0\insrsid8539656\charrsid15419608 63 }{\f0\insrsid8539656\charrsid15419608 [Repealed 101/51/1971(NZ)]}{\f0\insrsid8539656 
\par }{\f0\insrsid10303831\charrsid15419608 
\par }{\i\f0\insrsid8539656\charrsid15419608 Jurisdiction to Make Other Orders}{\i\f0\insrsid8539656 
\par }{\i\f0\insrsid10303831\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 64 Power of Court to authorise dealings with trust property and variations}{\b\f0\insrsid10303831  }{\b\f0\insrsid8539656\charrsid15419608 of trust}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid10303831\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (1) Subject to any contrary intention expressed in the instrument (if any)}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 creating the trust, where in the opinion of the Court any sale, lease, mortgage,}{
\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 surrender, release, or other disposition, or any purchase, investment, acquisition,}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
retention, expenditure, or other transaction is expedient in the management or}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 administration of any property vested in a trustee, or would be in the best interests}{\f0\insrsid10303831  }{
\f0\insrsid8539656\charrsid15419608 of the persons beneficially interested under the trust, but it is inexpedient or difficult}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
or impracticable to effect the same without the assistance of the Court, or the}{\f0\insrsid10242844  }{\f0\insrsid8539656\charrsid15419608 same cannot be effected by reason of the absence of any power for that purpose}{\f0\insrsid10303831  }{
\f0\insrsid8539656\charrsid15419608 vested in the trustee by the trust instrument (if any) or by law, the Court may by}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
order confer upon the trustee, either generally or in any particular instance, the}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 necessary power for the purpose, on such terms, and subject to such provisions}{\f0\insrsid10303831  }{
\f0\insrsid8539656\charrsid15419608 and conditions (if any) as the Court may think fit, and may direct in what manner}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
any money authorised to be expended, and the costs of any transaction, are to be}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 paid or borne, and as to the incidence of it between capital and income.
\par }{\f0\insrsid10303831 
\par }{\f0\insrsid8539656\charrsid15419608 (2) Notwithstanding anything to the contrary in the instrument (if any)}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 creating the trust, the Court, in proceedings in which all trustees and persons who}{
\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 are or may be interested are parties or are represented or consent to the order,}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
may make such an order and may give such directions as it thinks fit to the trustee}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 in respect of the exercise of any power conferred by the order.}{\f0\insrsid8539656 
\par }{\f0\insrsid10303831\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (3) }{\f0\insrsid10303831 
\par 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (a) The Court may rescind or vary any order made under this section,}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 o
r may make any new or further order;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (b) No such rescission or variation of any order shall affect any act or}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
thing done in reliance on the order before the person doing the act}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 or thing became aware of the application to the Court to rescind or}{\f0\insrsid10303831  }{
\f0\insrsid8539656\charrsid15419608 vary the order.}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid10303831\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (4) An application to the Court under this section may be made by the}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 trustees, or by any of them, or by any person beneficially interested under the}{
\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 trust.}{\f0\insrsid8539656 
\par }{\f0\insrsid10303831\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 64A Powers of Court to authorise variations}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid10303831\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (1) Without limiting any other powers of the Court, it is hereby declared}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 that where any property is held on trusts arising under any will, settlement, or}{
\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 other disposition, or on the intestacy or partial intestacy of any person, or under}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 any order of the 
Court, the Court may by order approve on behalf of \endash 
\par }{\f0\insrsid10303831 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (a) Any person having, directly or indirectly, an interest, whether vested}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
or contingent, under the trusts who by reason of infancy or other}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 incapacity is incapable of assenting; or
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (b) Any person (whether ascertained or not) who may become entitled,}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
directly or indirectly, to an interest under the trusts as being at a}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 future date or on the happening of a future event a person of any}{\f0\insrsid10303831  }{
\f0\insrsid8539656\charrsid15419608 specified description or a member of any specified class of persons,}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 so however that this paragraph shall not include any person who}{\f0\insrsid10303831  }{
\f0\insrsid8539656\charrsid15419608 would be of that description, or a member of that class, as the case}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 may be, if the said date had fallen or the said event had happened}{\f0\insrsid10303831  }
{\f0\insrsid8539656\charrsid15419608 at the date of the application to the Court; or}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (c) Any unborn or unknown person; or}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (d) Any person in respect of any discretionary interest of his under}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
protective trusts where the interest of the principal beneficiary has}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 not failed or determined \endash }{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
any arrangement (by whomsoever proposed, and whether or not there is any other}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 person beneficially interested who is capable of assenting to it) varying or revoking}{\f0\insrsid10303831  }{
\f0\insrsid8539656\charrsid15419608 all or any of the trusts, or enlarging the powers of the trustees of managing or}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 administering any of the property subject to the trusts:
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 Provided that, except by virtue of paragraph (d), the Court shall not approve an}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
arrangement on behalf of any person if the arrangement is to his detriment; and}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 in determining whether any such arrangement is to the detriment of any person}{\f0\insrsid10303831  }{
\f0\insrsid8539656\charrsid15419608 the Court may have regard to all benefits which may accrue to him directly or}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 indirectly in consequence of the arrangement, including the welfare and honour}{
\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 of the family to which he belongs:
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831 
\par }\pard \ql \li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid10242844 {\f0\insrsid8539656\charrsid15419608 Provided also that this subsection shall not apply to any trust affecting property}{\f0\insrsid10303831  }{
\f0\insrsid8539656\charrsid15419608 settled by any Act other than the Administration Act 1969.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid10303831 
\par }{\f0\insrsid8539656\charrsid15419608 (2) Any rearrangement approved by the Court under subsection (1) shall}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 be binding on all persons on whose behalf it is so approved, and thereafter the}{
\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 trusts as so rearranged shall take effect accordingly.}{\f0\insrsid8539656 
\par }{\f0\insrsid10303831\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (3) In this section \endash }{\f0\insrsid8539656 
\par }{\f0\insrsid10303831\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 discretionary interest}{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 
 means an interest arising under the trust specified}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 in section 42 (1)(b) or any like trust;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 principal beneficiary}{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 
 has the same meaning as in section 42(1);
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 protective trusts}{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608  means the trusts 
specified in section 42 (1) (a) or (b) or}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 any like trusts.}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid10303831\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 65 }{\f0\insrsid8539656\charrsid15419608 [Repealed]}{\f0\insrsid8539656 
\par }{\f0\insrsid10303831\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 66 Right of trustee to apply to Court for directions}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid10303831\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (1) Any trustee may apply to the Court for directions concerning any}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 property subject to a trust, or respecting the management or administration of}{
\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 any such property, or respecting the exercise of any power or discretion vested in}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 the trustee.
\par }{\f0\insrsid10303831 
\par }{\f0\insrsid8539656\charrsid15419608 (2) Every such application shall be served upon, and the hearing may be}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 attended by, all persons interested in the application or such of them as the Court}{
\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 thinks expedient.}{\f0\insrsid8539656 
\par }{\f0\insrsid10303831\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 67 Persons entitled to apply to Court}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid10303831\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (1) An order under this Act for the appointment of a new trustee or}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 concerning any property subject to a trust may be made on the application of any}{
\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 person beneficially interested in the property, whether under disability or not, or}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
on the application of any person duly appointed trustee of it or intended to be so}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 appointed.}{\f0\insrsid8539656 
\par }{\f0\insrsid10303831\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (2) An order under this Act concerning any interest in any property subject}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 to a mortgage may be made on the
 application of any person beneficially interested}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 in the property, whether under disability or not, or of any person interested in the}{\f0\insrsid10303831  }{
\f0\insrsid8539656\charrsid15419608 money secured by the mortgage.}{\f0\insrsid8539656 
\par }{\f0\insrsid10303831\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 68 Applications to Court to review acts and decisions of trustee}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid10303831\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (1) Any person who is beneficially interested in any trust property, and}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 who is aggrieved by any act or omission or decision of a trustee in the exercise of}
{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 any power conferred by this Act, or who has reasonable grounds to anticipate any}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 such act or omission or decisio
n of a trustee by which he will be aggrieved, may}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 apply to the Court to review the act or omission or decision or to give directions in}{\f0\insrsid10303831  }{
\f0\insrsid8539656\charrsid15419608 respect of the anticipated act or omission or decision; and the Court may require}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 the trustee to appear before it, and t
o substantiate and uphold the grounds of the}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 act or omission or decision that is being reviewed, and may make such order in}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
the premises as the circumstances of the case may require:}{\f0\insrsid8539656 
\par }{\f0\insrsid10303831\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 Provided that no such order shall \endash }{\f0\insrsid8539656 
\par }{\f0\insrsid10303831\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (a) Disturb any distribution of the trust property made without breach}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
of trust before the trustee became aware of the making of the}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 application to the Court;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (b) Affect any right acquired by any person in goods faith and for}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
valuable consideration.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid10303831 
\par }{\f0\insrsid8539656\charrsid15419608 (2) Where any such application is made, the Court may \endash 
\par }{\f0\insrsid10303831 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (a) If any question of fact is involved, direct how the question shall be}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
determined;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (b) If the Court is being asked to make an order that may prejudicially}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
affect the rights of any person who is not a party to the proceedings,}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 direct that any such person shall be made a party to the proceedings.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid10303831 
\par }{\b\f0\insrsid8539656\charrsid15419608 69 Protection of trustee while acting under direction of Court}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid10303831\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (1) Any trustee acting under any direction of the Court shall be deemed,}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 so far as regards his
 own responsibility, to have discharged his duty as such trustee}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 in the subject-matter of the direction, notwithstanding that the order giving the}{\f0\insrsid10303831  }{
\f0\insrsid8539656\charrsid15419608 direction is subsequently invalidated, overruled, set aside, or otherwise rendered}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 of no effect.
\par }{\f0\insrsid10303831 
\par }{\f0\insrsid8539656\charrsid15419608 (2) This section shall not extend to indemnify any trustee in respect of any}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 act done under any such direction if he has bee guilty of any fraud or wilful}{
\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 concealment or misrepresentation in obtaining the direction or inacquiescing in}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 the Court making the order giving the direction.}{
\f0\insrsid8539656 
\par }{\f0\insrsid10303831\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 70 Powers of Court to give judgment in absence of a trustee}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid10303831\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 Where in any proceedings the Court is satisfied that diligent search has}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 been made for any person who, in the character of trustee, is made a defendant in}{
\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 any action, to serve him with a process of the Court, and that he cannot be found,}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
the Court may hear and determine the proceedings and give judgment against}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 that person in his character of a trustee as if he had been duly served, or had}{\f0\insrsid10303831  }{
\f0\insrsid8539656\charrsid15419608 entered an appearance in the action, and had also appeared by his counsel and}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
solicitor at the hearing, but without prejudice to any interest he may have in the}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 matters in question in the proceedings in any other character.}{\f0\insrsid8539656 
\par }{\f0\insrsid10303831\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 71 Power of Court to charge costs}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid10303831\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 The Court may order the costs and expenses of and incidental to any}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 application for any order under this Act, or of and incidental to any such order, or}{
\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 any conveyance or assignment in pursuance of it, to be raised and paid out of the}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 property in respect whereof the sam
e is made, or out of the income thereof, or to}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 be borne and paid in such manner and by such persons as to the Court may seem}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 just.}{
\f0\insrsid8539656 
\par }{\f0\insrsid10303831\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 72 Commission}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid10303831\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (1) The Court may, out of the property subject to any trust, allow to any}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 person who is or has been a trustee thereof or to that person\rquote s personal}{
\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 representative such commission or percentage for that person\rquote s services as is just}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 and reasonable.}{\f0\insrsid8539656 
\par }{\f0\insrsid10303831\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (1A) In considering under subsection (1) what commission or percentage}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 is just and reasonable the Court shall have regard to the following circumstances,}{
\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 namely \endash }{\f0\insrsid8539656 
\par }{\f0\insrsid10303831\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (a) The total amount that has already been paid to any trustee of the}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
trust, whether under the trust instrument or to any earlier order of}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 the Court or to any agreement or otherwise;}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (b) The amount and difficulty of the services rendered by the trustee;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (c) The liabilities to which the trustee is or has been exposed, and the}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
responsibilities imposed o him;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (d) The skill and success of the trustee in administering the trust;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (e) The value of the trust property;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (f) The time and services reasonably required of the trustee;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (g) Whether any commission or percentage that might otherwise have}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
been allowed should be refused or reduced by reason of delays in}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 the administration of the trust that were occasioned, or that could}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
reasonably have been prevented, by the trustee; and
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (h) All other circumstances that the Court considers relevant.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\i\f0\insrsid10303831 
\par }{\f0\insrsid8539656\charrsid15419608 (2) The Court may make any such allowance at any time, before or during}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 the administration of the trust, or on the termination of the trust, and may, subject
}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 to such terms and conditions as the Court thinks fit, make any such allowance in}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
respect of services to be rendered by the trustee during any specified period}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 subsequent to the date of the order.}{\f0\insrsid8539656 
\par }{\f0\insrsid10303831\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (3) Where the Court allows a commission or percentage under this section}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 in any case in which 2 or more persons are or have been the trustees, whether}{
\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 acting at the same time or at different times, the amount so allowed shall be}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
apportioned among the trustees as they mutually agree; and if there is no such}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 agreement the Court may, apportion the total amount allowed among the trustees}{\f0\insrsid10303831  }{
\f0\insrsid8539656\charrsid15419608 in such manner as it thinks fit, and, in particular, may divide the amount in unequal}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 shares or ma
y make the allowance to one or more of the trustees to the exclusion}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 of the other or others.}{\f0\insrsid8539656 
\par }{\f0\insrsid10303831\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 73 Power to relieve trustee from personal liability}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid10303831\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 If it appears to the Court that a trustee, whether appointed by the Court or}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 otherwise, is or may be personally liable for any breach of trust, whether the}{
\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 transaction alleged to be a breach of trust occurred before or after the}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
commencement of this Act, but has acted honestly and reasonably, and ought}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 fairly to be excused for the breach of trust and for omitting to obtain the directions}{\f0\insrsid10303831  }{
\f0\insrsid8539656\charrsid15419608 of the Court in the matter in which he committed the breach, then the Court may}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 relieve him either wholly or partly from personal liability for the same.}{
\f0\insrsid8539656 
\par }{\f0\insrsid10303831\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 74 Power to make beneficiary indemnify for breach of trust
\par }{\f0\insrsid10303831 
\par }{\f0\insrsid8539656\charrsid15419608 Where a trustee commits a breach of trust at the instigation or request or}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 with the consent in writing of a beneficiary, the Court may, and notwithstanding}{
\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 that the beneficiary may be a married woman restrained from anticipation, make}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 such order as to the 
Court seems just for impounding all or any part of the interest}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 of the beneficiary in the trust estate by way of indemnity to the trustee or persons}{\f0\insrsid10303831  }{
\f0\insrsid8539656\charrsid15419608 claiming through him.
\par }{\b\f0\insrsid10303831 
\par }{\b\f0\insrsid8539656\charrsid15419608 75 Barring of claims
\par }{\f0\insrsid10303831 
\par }{\f0\insrsid8539656\charrsid15419608 (1) Where a trustee desires to reject a claim that has been made, or that he}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 has reason to believe may be made \endash 
\par }{\f0\insrsid10303831 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (a) To or against the estate or property that he is administering; or}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (b) Against the trustee personally by reason of his being under any}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
liability in respect of which he is entitled to reimburse himself out}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 of the estate or property that he is administering \endash }{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
the trustee may serve upon the claimant or the person who may become a claimant}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 as aforesaid a notice calling upon him, within a period of 3 months from the date}{\f0\insrsid10303831  }{
\f0\insrsid8539656\charrsid15419608 of service of the notice, to take legal proceedings to enforce the claim and also to}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 prosecute the proceedings with all due diligence.}{\f0\insrsid8539656 

\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid10303831\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (2) At the expiration of that period the trustee may apply to the Court for}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 an order under subsection (3), and shall serve a copy of the application on the}{
\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 person concerned.}{\f0\insrsid8539656 
\par }{\f0\insrsid10303831\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (3) If on the hearing of that application that person does not satisfy the}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 Court that he has commenced the proceedings and is prosecuting them with all}{
\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 due diligence, the Court may make an order \endash 
\par }{\f0\insrsid10303831 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (a) Extending the period, or barring the claim, or enabling the trust}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
property to be dealt with without regard to the claim; and
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10303831 {\f0\insrsid10303831 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10303831 {\f0\insrsid8539656\charrsid15419608 (b) Imposing such conditions and giving such directions, including a}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
direction as to the payment of the costs of or incidental to the}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 application, as to the Court seems just.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\i\f0\insrsid10303831\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (3A) Where a trustee has served any such notices in respect of claims on}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 2 or more persons and the period specified in each of the said notices has expired,}
{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 he may, if he thinks fit, apply for an order in respect of the claims of those persons}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
in a single application, and the Court may on that application make an order}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 accordingly.
\par }{\f0\insrsid10303831 
\par }{\f0\insrsid8539656\charrsid15419608 (4) [Repealed by 2004/270]}{\f0\insrsid8539656 
\par }{\f0\insrsid10303831\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (5) [Repealed]}{\f0\insrsid8539656 
\par }{\f0\insrsid10303831\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (6) On an application by a trustee under this section, the persons}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 beneficially entitled to the estate or property need not be made parties to the}{
\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 proceedings, and no order made by the Court on the application shall prejudice}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
their right to contest the claim of the trustee to be entitled to indemnify himself}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 out of the estate or property that he is administering if they have not been parties}{\f0\insrsid10303831  }{
\f0\insrsid8539656\charrsid15419608 to the proceedings in which the order was made.
\par }{\b\f0\insrsid10303831 
\par }{\b\f0\insrsid8539656\charrsid15419608 76 Distribution of shares of missing beneficiaries
\par }{\f0\insrsid10303831 
\par }{\f0\insrsid8539656\charrsid15419608 (1) Where any property is held by a trustee and the property or any part of}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 it cannot be distributed because the trustee does not know whether any person}{
\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 who is or may be entitled to it is or at any material date was in existence, or whether}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
all of any of the persons who are members of any class who are or may be entitled}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 to it are or at any material date were in existence, or because the trustee does }{
\f0\insrsid10292966\charrsid15419608 not know}{\f0\insrsid8539656\charrsid15419608  whether any such person is alive or dead or where he is, the trustee may}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
publish such advertisements (whether in Niue or elsewhere) as are appropriate in}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 the circumstances calling upon every such person and every person claiming}{\f0\insrsid10303831  }{
\f0\insrsid8539656\charrsid15419608 through any such person to send in his claim within a time to be specified in the}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 
advertisements, not being less than 2 months in any case from the date on which}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 the advertisement is published. Where the trustee is in doubt as to what}{\f0\insrsid10303831  }{
\f0\insrsid8539656\charrsid15419608 advertisements should be published under this subsection, he may apply to the}{\f0\insrsid10303831  }{\f0\insrsid8539656\charrsid15419608 Court for directions in that regard.
\par }{\f0\insrsid10303831 
\par }{\f0\insrsid987019 (2)
\par 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid987019 {\f0\insrsid8539656\charrsid15419608 (a) Where the trustee has received (wheth}{\f0\insrsid987019 er as a result of the advertise}{\f0\insrsid8539656\charrsid15419608 
ments or not) any claim to be a person to whom any such}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 advertisement relates, or any notice that any person may claim to}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
be such a person but the trustee is not satisfied that the claim is or}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 would be valid, the trustee may serve upon the claimant or the}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
person of whom the trustee has notice as aforesaid, a notice calling}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 upon him, within a period of 3 months from the date of service of}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
the notice, to take legal proceedings to enforce the claim, if he wishes}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 to pursue it, and to prosecute the proceedings with all due diligence;}{\f0\insrsid987019  }{
\f0\insrsid8539656\charrsid15419608 and advising him that, if he fails to do so, his claim may be}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 disregarded and application may be made to the Court without}{\f0\insrsid987019  }{
\f0\insrsid8539656\charrsid15419608 further notice for an order authorising the distribution of the}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 property.}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid987019 {\f0\insrsid987019\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid987019 {\f0\insrsid8539656\charrsid15419608 (b) Nothing in this subsection shall make it necessary for the trustee to}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
serve such a notice on any such person; and the Court may make}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 an order under this section, whether or not such a notice has been}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
served on any such person, if it is satisfied that the information}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 supplied to the trustee by that person or otherwise in the possession}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
of the trustee indicates either that the person is not one of the persons}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 specified in the advertisements or that he is not likely to be one of}{\f0\insrsid987019  }{
\f0\insrsid8539656\charrsid15419608 those persons.}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid987019\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (3) Upon proof by affidavit of the circumstances, and of the inquiries that}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 have been made, and of the results of the inquiries and advertisements, and of the}
{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 claims of which the trustee has received notice, and of the notices that the trustee}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
has given to claimants under subsection (2), and of the action (if any) which the}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 claimants have taken to enforce their claims, the Court may order that the trustee}{\f0\insrsid987019  }{
\f0\insrsid8539656\charrsid15419608 may distribute the property or part of it, subject to such conditions as the Court}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 may impose \endash }{\f0\insrsid8539656 
\par }{\f0\insrsid987019\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid987019 {\f0\insrsid8539656\charrsid15419608 (a) As if every person and every member of any class of persons}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
specified in the order (being all or any of the persons specified in}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 the advertisements) is not in existence or never existed or has died}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
before a date or event specified in the order; and}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid987019 {\f0\insrsid987019\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid987019 {\f0\insrsid8539656\charrsid15419608 (b) Where as a consequence of the order it is not possible or practicable}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
to determine whether or not any condition or requirement affecting}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 a beneficial interest in the property or any part of it has been}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
complied with or fulfilled, as if that condition or requirement had}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 or had not been complied with or fulfilled (as the Court may}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
determine).}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid987019\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (4) In making any order under subsection (3), the Court may \endash 
\par }{\f0\insrsid987019 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid987019 {\f0\insrsid8539656\charrsid15419608 (a) Disregard (without express reference to it in the order) the claims}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
of any persons who do not appear to the Court to be, or to be likely}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 to be, any of the persons specified in the advertisements;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid987019 {\f0\insrsid987019 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid987019 {\f0\insrsid8539656\charrsid15419608 (b) Disregard (without express reference to it in the order) the claim of}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
any person to whom the trustee has given notice under subsection
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid987019 
\par }{\f0\insrsid8539656\charrsid15419608 (2) and who has failed to take legal proceedings to enforce the claim}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 or to prosecute any such proceedings with all due diligence;
\par }{\f0\insrsid987019 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid987019 {\f0\insrsid8539656\charrsid15419608 (c) Exclude from the operation of the order any person to whom the}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
trustee has not given notice under subsection (2) and who in the}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 opinion of the Court may be one of the persons specified in the}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 adv
ertisements, or any person whom the Court considers should}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 for any reason be excluded from the operation of the order;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid987019 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid987019 {\f0\insrsid8539656\charrsid15419608 (d) Provide that the order shall not be acted on for such period or except}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
on such conditions as may be specified in the order or that the effect}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 of the order shall during a period so specified be advertised in such}{\f0\insrsid987019  }{
\f0\insrsid8539656\charrsid15419608 manner and form as may be specified in the order, or that the order}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 be served upon such person or persons as are specified in it; and in}{\f0\insrsid987019  }{
\f0\insrsid8539656\charrsid15419608 the event of the Court exercising the jurisdiction conferred by this}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 paragraph it may in the order direct that the same shall be of no}{\f0\insrsid987019  }{
\f0\insrsid8539656\charrsid15419608 effect in respect of any person specified in it in the event of that}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 person instituting proceedings in Niue to enforce his claim and}{\f0\insrsid987019  }{
\f0\insrsid8539656\charrsid15419608 serving the proceedings upon the trustee within such period as is}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 specified in the order.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid987019 
\par }{\f0\insrsid8539656\charrsid15419608 (5) Any such order may be made notwithstanding that there has not been}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 strict compliance with any directions as to advertisements previously given by}{
\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 the Court, or that an error has been made in any advertisement (whether or not}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
any directions have previously been given by the Court) if the Court considers}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 that the error would not be likely to have prejudiced or misled the persons to}{\f0\insrsid987019  }{
\f0\insrsid8539656\charrsid15419608 whom the advertisement relates.
\par }{\f0\insrsid987019 
\par (6)
\par 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid987019 {\f0\insrsid8539656\charrsid15419608 (a) Where the Court makes an order under this section that the trustee}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
may distribute any property or part of it as if every person and}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 every member of any class of persons specified in the order (not}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
being a person expressly excluded from the operation of the order)}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 is not in existence or never existed or has died before a date or}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
event specified in the order, and the trustee distributes under the}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 order, the trustee shall be exonerated from any further liability to}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
any such person or to any member of any such class.}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid987019 {\i\f0\insrsid987019\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid987019 {\f0\insrsid8539656\charrsid15419608 (b) Nothing in this subsection shall prejudice any remedy which any}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
person may have against any person other than the trustee,}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 including any right which he may have to follow the property and}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
any money or property into which it is converted.}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid987019\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (7) The Court may make one or more orders under this section in respect}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 of the same property.
\par }{\f0\insrsid987019 
\par }{\f0\insrsid8539656\charrsid15419608 (8) Any order made under this section may direct how the costs of the}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 order and of advertising under or for the purposes of the order shall be borne.
\par }{\f0\insrsid987019 
\par }{\f0\insrsid8539656\charrsid15419608 (9) It shall not be necessary to serve notice of an application for an order}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 under this section upon any person, unless the Court otherwise orders.
\par }{\f0\insrsid987019 
\par }{\f0\insrsid8539656\charrsid15419608 (10) Nothing in this section shall prejudice the right of the trustee to}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 distribute under any other law or statutory provision or prejudice the protection}{
\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 thereby afforded when he makes distribution under any such law or provision.}{\f0\insrsid8539656 
\par }{\f0\insrsid987019\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 76A Service of notices under sections 75 and 76}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid987019\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (1) Any notice, application, or order that is to be served under section 75}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 or section 76 or under any order made under section 76, may be served \endash 

\par }{\f0\insrsid987019 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid987019 {\f0\insrsid8539656\charrsid15419608 (a) Either by delivering it to the person for whom it is intended or by}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
sending it by post in a registered letter addressed to that person at}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 his usual or last known place of abode or business; or
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid987019 {\f0\insrsid987019 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid987019 {\f0\insrsid8539656\charrsid15419608 (b) In such other manner as may be directed by an order of the Court.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid987019 
\par }{\f0\insrsid8539656\charrsid15419608 (2) Where a notice is sent by post as aforesaid it shall be deemed to be}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 served at the time at which the letter would have been delivered in the ordinary}{
\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 course of post.}{\f0\insrsid8539656 
\par }{\f0\insrsid987019\charrsid15419608 
\par }{\i\f0\insrsid8539656\charrsid15419608 Payment to Crown}{\i\f0\insrsid8539656 
\par }{\i\f0\insrsid987019\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 77 Payment by trustees to Crown}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid987019\charrsid15419608 
\par }{\f0\insrsid987019 (1)
\par 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10242844 {\f0\insrsid8539656\charrsid15419608 (a) Trustees, or the majority of trustees, having in their hands or under}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
their control money or securities belonging to a trust, may, on filing}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 in the Court nearest to which they or the majority of them reside an}{\f0\insrsid987019  }{
\f0\insrsid8539656\charrsid15419608 affidavit describing the instrument creating the trust and giving}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 particulars of the persons beneficially entitled under the trust to}{\f0\insrsid10242844  }{
\f0\insrsid8539656\charrsid15419608 the best of their knowledge and belief, and on serving a copy of the}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 affidavit on the Financial Secretary, pay the money or transfer the}{\f0\insrsid987019  }{
\f0\insrsid8539656\charrsid15419608 securities (if they can legally be so transferred) to the Crown in the}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 matter of the particular trust, which shall be described in the}{\f0\insrsid987019  }{
\f0\insrsid8539656\charrsid15419608 affidavit by the names of the parties as accurately as may be for the}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 purpose of distinguishing it.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid987019 {\f0\insrsid987019 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid987019 {\f0\insrsid8539656\charrsid15419608 (b) All money and securities so paid or transferred shall be administered}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
in the Treasury.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid987019 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid987019 {\f0\insrsid8539656\charrsid15419608 (c) All such money and all money derived from securities which have}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
been transferred to or vested in the Crown under this section shall}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 be credited by the Financial Secretary to a deposit account}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
established under the Public Revenues Act to be dealt with as}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 hereafter provided in this Act.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid987019 
\par }{\f0\insrsid8539656\charrsid15419608 (2) The receipt of the Financial Secretary shall be a sufficient discharge to}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 the trustees for the money or securities paid or transferred to the Crown under}{
\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 this section.
\par }{\f0\insrsid987019 
\par }{\f0\insrsid8539656\charrsid15419608 (3) Where money or securities are vested in any persons as trustees, and}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 the majority are desirous of paying or transferring the same to the Crown as}{
\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 aforesaid, but the concurrence of the other or others cannot be obtained, the Court}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
may order the payment or transfer to the Crown to be made by the majority without}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 the concurrence of the other or others.
\par }{\i\f0\insrsid987019 
\par }{\f0\insrsid8539656\charrsid15419608 (4) Where any such money or securities are deposited with any banker,}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 broker or other depositary, the Court may order payment or delivery of the money}{
\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 or securities to the majority of the trustees for the purpose of payment or transfer}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 to the Crown.
\par }{\f0\insrsid987019 
\par }{\f0\insrsid8539656\charrsid15419608 (5) Every transfer, payment, and deliver made under any such order shall}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 be valid and take effect as if the same had been made on the authority or by the act}{
\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 of all the persons entitled to the money and securities so transferred, paid, or}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 delivered.
\par }{\f0\insrsid987019 
\par }{\f0\insrsid8539656\charrsid15419608 (6) The Financial Secretary may at any time sell any securities held by the}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 Crown under this section.
\par }{\f0\insrsid987019 
\par }{\f0\insrsid8539656\charrsid15419608 (7) [Repealed by 2004/270]
\par }{\f0\insrsid987019 
\par }{\f0\insrsid8539656\charrsid15419608 (8) Where any trustee has obtained or is seeking a discharge in respect of}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 any money or securities under this section or has obtained such a discharge under}{
\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 the corresponding provisions of any former section, the Financial Secretary may}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
at any time require that trustee to give such information in his possession or control}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 as he may require in relation to the persons beneficially entitled to the money or}{\f0\insrsid987019  }{
\f0\insrsid8539656\charrsid15419608 securities, including information as to the steps taken to trace those persons; and}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
if any person refuses or wilfully neglects to give any such information that is in}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 his possession or control when so required, or wilfully gives any false information}{\f0\insrsid987019  }{
\f0\insrsid8539656\charrsid15419608 in answer to any such requisition, he commits an offence and shall be liable on}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 conviction to a fine not exceeding 2 penalty units.
\par }{\b\f0\insrsid987019 
\par }{\b\f0\insrsid8539656\charrsid15419608 78 Disposal of funds paid to Crown}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid987019\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (1) At the end of each financial year the Financial Secretary shall publish}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 in the Gazette a statement of all money and securities then held by the Crown}{
\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 under section 77, being \endash 
\par }{\f0\insrsid987019 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid987019 {\f0\insrsid8539656\charrsid15419608 (a) Money which has not previously been credited to the Niue}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
Government Account under subsection (4);
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid987019 {\f0\insrsid987019 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid987019 {\f0\insrsid8539656\charrsid15419608 (b) Securities which were transferred to the Crown within the}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
immediately preceding 6 years or which were transferred or}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 deposited into or in the name of any Registrar under section 67 of}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
the Trustee Act 1908 within the immediately preceding 6 years.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid987019 
\par }{\f0\insrsid8539656\charrsid15419608 (2) Every statement so published in the }{\i\f0\insrsid8539656\charrsid15419608 Gazette }{\f0\insrsid8539656\charrsid15419608 shall contain sufficient}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
particulars to show the matters in which the money and securities are held by the}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 Crown and the amount held in respect of each matter.
\par }{\f0\insrsid987019 
\par }{\f0\insrsid8539656\charrsid15419608 (3)}{\f0\insrsid987019 
\par 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid987019 {\f0\insrsid8539656\charrsid15419608 (a) All money and securities for the time being held by the Crown under}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
section 77 (whether or not they are held in the Niue Government}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 Account shall be so held to attend the order of the Court.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid987019 {\f0\insrsid987019 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid987019 {\f0\insrsid8539656\charrsid15419608 (b) Any such money or securities may be paid or transferred by the}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
Financial Secretary to the person entitled to it upon his establishing}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 a claim to it or may be paid or transferred to the person from whom}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
they were received to be held by him as trustee if that person so}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 requests.}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid987019 {\f0\insrsid987019\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid987019 {\f0\insrsid8539656\charrsid15419608 (c) All costs and expenses reasonably incurred by the Crown or the}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
Financial Secretary in connection with any such money or securities}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 may be deducted out of the money or securities or out of any other}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
money and securities which are for the time being held by the Crown}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 and are subject to the same trusts.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid987019 
\par }{\f0\insrsid8539656\charrsid15419608 (4) The Financial Secretary shall transfer to the Niue Government Account}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 all money held under section 77, being money which was \endash 
\par }{\f0\insrsid987019 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid987019 {\f0\insrsid8539656\charrsid15419608 (a) Paid to the Crown more than 6 years previously; or
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid987019 {\f0\insrsid987019 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid987019 {\f0\insrsid8539656\charrsid15419608 (b) Derived from securities which were transferred to the Crown, or}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
transferred or deposited in the name of any Registrar, more than 6}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 years previously.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid987019 
\par }{\f0\insrsid8539656\charrsid15419608 (5) Any money previously transferred to the Niue Government Account}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 under subsection (4) which is paid or required to be paid under subsection (3)}{
\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 may be paid out of the Niue Government Account without further appropriation}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 than this subsection.
\par }{\f0\insrsid987019 
\par }{\f0\insrsid8539656\charrsid15419608 (6)}{\f0\insrsid987019 
\par 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid987019 {\f0\insrsid8539656\charrsid15419608 (a) Under no circumstances shall the liability of the Crown or the}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
Financial Secretary in respect of any securities which are transferred}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 to or vested in the Crown under section 77 exceed the value of those}{\f0\insrsid987019  }{
\f0\insrsid8539656\charrsid15419608 securities and of any other securities and money which are held by}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 the Crown and subject to the same trusts at the time when demand}{\f0\insrsid987019  }{
\f0\insrsid8539656\charrsid15419608 is made for satisfaction of the liability.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid987019 {\f0\insrsid987019 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid987019 {\f0\insrsid8539656\charrsid15419608 (b) If the said securities and money are insufficient to meet any such}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
liability, the claimant shall, in respect of any unpaid balance of the}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 liability, have the same rights and remedies against the person}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
beneficially entitled to the securities in respect of which the liability}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 arose as he would if those securities were transferred to that person.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid987019 
\par }{\f0\insrsid8539656\charrsid15419608 (7) Neither the Crown nor the Financial Secretary shall have the duties or}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 liabilities of a trustee in
 respect of any money or securities for the time being held}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 by the Crown under section 77 (whether in the Niue Government Account or}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
not); and no interest shall be payable by the Crown or the Financial Secretary in}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 respect of any money so held.
\par }{\f0\insrsid987019 
\par }{\f0\insrsid8539656\charrsid15419608 (8) Where any money or securities paid or transferred to any claimant}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 under this section are afterwards claimed by any other person, the Crown and the}{
\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 Financial Secretary shall not be responsible for the payment or transfer of it but}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 that person shall have recourse 
against the claimant to whom the money was}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 paid or the securities were transferred.}{\f0\insrsid8539656 
\par }{\f0\insrsid987019\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 79 Orders in respect of funds paid to Crown}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid987019\charrsid15419608 
\par }{\f0\insrsid987019 (1)
\par 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid987019 {\f0\insrsid8539656\charrsid15419608 (a) Upon application made }{\i\f0\insrsid8539656\charrsid15419608 ex parte }{\f0\insrsid8539656\charrsid15419608 
by such person or persons as are}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 competent or necessary in that behalf, the Court may make such}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
order as it thinks fit in respect of any money or securities for the}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 time being held by the Crown under section 77 (whether in the}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
Niue Government Account or not), and for the payment, transfer,}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 and administration of it.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid987019 {\f0\insrsid987019 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid987019 {\f0\insrsid8539656\charrsid15419608 (b) The Court may direct service of the application on such persons as}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 it thinks fit.

\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid987019 
\par }{\f0\insrsid8539656\charrsid15419608 (2) Every such order shall have the same authority and effect and shall be}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 subject to rehearing and appeal in the same manner as if it had been made in any}{
\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 action regularly instituted in the Court; and if it appears that any such money or}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
securities cannot be safely distributed without the institution of one or more actions,}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 the Court may direct any such action to be instituted.}{\f0\insrsid8539656 
\par }{\f0\insrsid987019\charrsid15419608 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid987019 {\b\f0\insrsid8539656\charrsid987019 PART 6
\par GENERAL PROVISIONS
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid987019\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 80 Indemnity to banks and others}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid987019\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 This Act, and every order purporting to be made under this Act, shall be a}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 complete indemnity to all banks, companies, societies, associations, and persons}{
\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 for any acts done pursuant to it, and it shall not be necessary for any bank, company,}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
society, association, or person to inquire concerning the propriety of the order, or}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 whether the Court had jurisdiction to make it.}{\f0\insrsid8539656 
\par }{\f0\insrsid987019\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 81 Operation on bank account of trustees}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid987019\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (1) Where there are more trustees than one, and the trustees, by writing}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 under their hands communicated to a bank at which their account is kept, arrange}{
\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 that the account may be operated upon by cheques or drafts signed by one or}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
more of them, or by one of them and a delegate or delegates named in the writing}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 of another or others of them, the bank shall be entitled to honour and pay }{\f0\insrsid10292966\charrsid15419608 
the cheques}{\f0\insrsid8539656\charrsid15419608  or drafts as if they had been signed by all the trustees, until the bank}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 receives notice
 in writing of the revocation, by death or otherwise, of the}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 arrangement.
\par }{\f0\insrsid987019 
\par }{\f0\insrsid8539656\charrsid15419608 (2) Nothing in this section or in any rule of law shall prevent trustees from}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 opening a bank account named as an imprest account and from authorising any}{
\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 one or more of their number or any other person or persons to operate upon the}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 imprest account.
\par }{\b\f0\insrsid987019 
\par }{\b\f0\insrsid8539656\charrsid15419608 82 }{\f0\insrsid8539656\charrsid15419608 [Repealed]}{\f0\insrsid8539656 
\par }{\f0\insrsid987019\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 83 Special rules as to apportionment}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid987019\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (1) For the purposes of this section \endash }{\f0\insrsid8539656 
\par }{\f0\insrsid987019\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid987019 {\f0\insrsid8539656\charrsid15419608 (a) The term }{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 fixed-income asset}{\f0\insrsid15419608 "}{
\f0\insrsid8539656\charrsid15419608  means an asset coming within any}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 of the following classes \endash 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid987019 
\par }\pard \ql \li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid987019 {\f0\insrsid8539656\charrsid15419608 (i) The securities mentioned in section 4 (1) (a), (c), (d), (e), (f), (g)}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 and (i);

\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid987019 {\f0\insrsid987019 
\par }\pard \ql \li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid987019 {\f0\insrsid8539656\charrsid15419608 (ii) Debentures, bonds, and stock (other than shares) in which the}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
trustee is authorised to invest trust money;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid987019 {\f0\insrsid987019 
\par }\pard \ql \li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid987019 {\f0\insrsid8539656\charrsid15419608 (iii) Any other asset bearing interest or carrying the right to a}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
dividend if the interest or dividend is payable at a fixed rate}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 and if the interest or dividend has been paid regularly in respect}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
of the asset for at least 5 years before the material date and if}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 the trustee has no reason to believe that the interest or dividend}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
in respect of the period to which the apportionment relates will}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 not be paid reasonably promptly after the same falls due;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid987019 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid987019 {\f0\insrsid8539656\charrsid15419608 (b) The term }{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 shares}{\f0\insrsid15419608 "}{\f0\insrsid8539656\charrsid15419608 
 means share or stock of any company, whether}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 incorporated in or outside Niue except any such shares or stock}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
which constitutes a fixed-income asset under paragraph (a) (iii);
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid987019 {\f0\insrsid987019 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid987019 {\f0\insrsid8539656\charrsid15419608 (c) An appropriation of shares (whether under the power conferred}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
by section 15 (1) (j) or otherwise) shall be deemed to be a transfer of}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 those shares to which subsection (4) applies.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid987019 
\par }{\f0\insrsid8539656\charrsid15419608 (2) Where any payment received by a trustee in respect of a sale of any}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 fixed-income asset is or includes payment for the right to receive income accrued}{
\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 from that asset at the time of sale, though the income may not then be due, the}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
amount of the accrued income shall, for the purposes of the trust, be deemed to}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 have been received as income in respect of the period during which it so accrued.
\par }{\f0\insrsid987019 
\par }{\f0\insrsid8539656\charrsid15419608 (3) Where any payment made by a trustee in respect of a purchase of any}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 fixed-income asset is or includes payment for the right to receive any income}{
\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 accrued from that asset at the time of the purchase, though the income may not}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 then be due, the amount of 
the accrued income when received shall, for the}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 purposes of the trust, be deemed to have been received as purchase money repaid.
\par }{\f0\insrsid987019 
\par }{\f0\insrsid8539656\charrsid15419608 (4) Where a trustee transfers any shares (not being a fixed-income asset) to}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 the person entitled to it under the trust, then, 
unless the trustee in his absolute}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 discretion having regard to all the circumstances of the case thinks that it is}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
equitable, practicable, and convenient to make an apportionment, there shall be}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 no apportionment of any dividends which have accrued at the date of transfer}{\f0\insrsid987019  }{
\f0\insrsid8539656\charrsid15419608 but have not then been declared, and no person who would have been beneficially}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
interested in any such dividends if they had been declared and paid to the trustee}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 shall have any claim in respect of it against the trustee or agains}{\f0\insrsid987019 t the transferee of }{
\f0\insrsid8539656\charrsid15419608 the shares.}{\f0\insrsid8539656 
\par }{\f0\insrsid987019\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (5) Where a trustee sells any shares that are not a fixed-income asset, no}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 part of the proceeds of the sale shall, for the purposes of the trust, be deemed to}
{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 have been paid for the right to receive dividends which have accrued in respect of}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
the shares at the time of the sale, but have not then been declared, and there shall}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 accordingly be no apportionment of the proceeds as between capital and income.
\par }{\f0\insrsid987019 
\par }{\f0\insrsid8539656\charrsid15419608 (6) Where a trustee purchases any shares that are not a fixed-income asset,}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 no part of the purchase price shall, for the purposes of the trust, be deemed to be
}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 paid for the right to receive any dividends which have accrued in respect of the}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
shares at the time of the purchase but have not then been declared, and there shall}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 accordingly be no apportionment of the purchase price as between capital and}{\f0\insrsid987019  }{
\f0\insrsid8539656\charrsid15419608 income, nor shall any part of the dividends received by the trustee be deemed to}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 have been received as purchase money repaid.}{\f0\insrsid8539656 
\par }{\f0\insrsid987019\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 (7) Except as herein expressly provided, nothing in this section shall affect}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 the rights and obligations of the trustee or of any other person in respect of}{
\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 apportionment of income on the sale or purchase of any asset or the transfer of it}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 to any person beneficially entitled to it.
\par }{\f0\insrsid987019 
\par }{\f0\insrsid8539656\charrsid15419608 (8) Anything done by a trustee before the commencement of this section}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 which would have been authorised by this section if then in force shall be deemed}{
\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 to have been authorised by this section.
\par }{\f0\insrsid987019 
\par }{\f0\insrsid8539656\charrsid15419608 (9) The provisions of this section shall apply if and so far only as a contrary}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 intention is
 not expressed in the instrument, if any, creating the trust, and shall}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 have effect subject to the terms of that instrument.
\par }{\b\f0\insrsid987019 
\par }{\b\f0\insrsid8539656\charrsid15419608 83A Examination of accounts of trust estates administered by trustee}{\b\f0\insrsid987019  }{\b\f0\insrsid8539656\charrsid15419608 corporations
\par }{\f0\insrsid987019 
\par }{\f0\insrsid8539656\charrsid15419608 In the case of any trust estate administered by a trustee corporation, a}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 solicitor or accountant authorised in writing by a beneficiary shall be entitled as}{
\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 of right to examine at any reasonable time the accounts of that estate, and for the}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 purpose shall have access to the trustee corporation
\rquote s books and vouchers (but}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 not the file) relating to that estate, and to the securities and documents of title held}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
by the trustee corporation on account of that estate.
\par }{\b\f0\insrsid987019 
\par }{\b\f0\insrsid8539656\charrsid15419608 83B Audit of other trust estates}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid987019\charrsid15419608 
\par }{\f0\insrsid8539656\charrsid15419608 Subject to the provisions of any regulations made under this Act, and unless}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 the Court otherwise orders, the condition and accounts of any trust estate (being}
{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 an estate which is not being administered by a trustee corporation) shall, on an}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
application being made and notice of it being given in the prescribed manner by}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 or on behalf of any trustee or beneficiary in that estate, be investigated and audited}{\f0\insrsid987019  }{
\f0\insrsid8539656\charrsid15419608 by such solicitor or such member of the New Zealand Society of Accountants as}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 may be agreed on between the applicant trustee and his co-trustees.
\par }{\b\f0\insrsid987019 
\par }{\b\f0\insrsid8539656\charrsid15419608 84 Costs and testamentary expenses to be payable out of capital of settled}{\b\f0\insrsid987019  }{\b\f0\insrsid8539656\charrsid15419608 residuary estate of deceased}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid987019\charrsid15419608 
\par }{\f0\insrsid987019 (1)
\par 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid987019 {\f0\insrsid8539656\charrsid15419608 (a) Where, under the provisions of the will of a person dying after the}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
commencement of this Act (in this section referred to as the}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 deceased) any real or personal property included either by specific}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
or general description in a residuary gift is settled by way of}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 succession, no part of the income of that property shall be applicable}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
in or towards the payment of the funeral, testamentary, and}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 administration expenses, death duties, debts, legacies, and liabilities,}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
or of the interest (if any) on it up to the date of the death of the}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 deceased.}{\f0\insrsid8539656 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid987019 {\f0\insrsid987019\charrsid15419608 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid987019 {\f0\insrsid8539656\charrsid15419608 (b) This subsection shall not apply to any commission which is payable}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
to the trustee in respect of any such income or to any testamentary}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 or administration expenses which, apart from this subsection, would}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
be payable wholly out of income.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid987019 
\par }{\f0\insrsid8539656\charrsid15419608 (2) The income of the settled property shall be applicable in priority to any}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 other assets in payment of the interest (if any) accruing due on the funeral,}{
\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 testamentary, and administration expenses, death duties, debts, legacies, and}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
liabilities after the date of the death of the deceased and up to the payment of it,}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 and the balance of that income shall be payable to the person for the time being}{\f0\insrsid987019  }{
\f0\insrsid8539656\charrsid15419608 entitled to the income of the property.
\par }{\f0\insrsid987019 
\par }{\f0\insrsid8539656\charrsid15419608 (3) Where, after the death of the deceased, income of assets comprised in}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 the settled property which are ultimately applied in or towards payment of the}{
\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 funeral, testamentary, and administration expenses, death duties, debts, legacies}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
and liabilities, arises pending that application, that income shall, for the purposes}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 of this section, be deemed income of the residual estate of the deceased.
\par }{\f0\insrsid987019 
\par }{\f0\insrsid8539656\charrsid15419608 (4) This section shall only affect the rights of beneficiaries under the will}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
as between themselves, and shall not affect the rights of creditors of the deceased}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 or limit any other powers of the trustee.
\par }{\f0\insrsid987019 
\par }{\f0\insrsid8539656\charrsid15419608 (5) The provisions of this section shall apply if and so far only as a contrary}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
intention is not expressed in the will, and shall have effect subject to the terms of}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 the will and of any Act as to charges on property of the deceased.
\par }{\f0\insrsid987019 
\par }{\f0\insrsid8539656\charrsid15419608 (6) Nothing in this section shall apply to any annuity which is payable out}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 of the estate of the deceased.
\par }{\b\f0\insrsid987019 
\par }{\b\f0\insrsid8539656\charrsid15419608 85 Application of income of settled property pending conversion
\par }{\f0\insrsid987019 
\par }{\f0\insrsid8539656\charrsid15419608 (1) Subject to this section, where under the will of any person any real or}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 personal property included (either by specific or general description) in a resi
duary}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 gift is settled by way of succession, then, notwithstanding that the property may}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
be of a wasting, speculative, or reversionary nature \endash 
\par }{\f0\insrsid987019 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid987019 {\f0\insrsid8539656\charrsid15419608 (a) Pending any sale, calling in, or conversion of the settled property,}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
the whole of the net income of property actually producing income}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 shall be applied as income and no part of it shall be appropriated to}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
capital; and
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid987019 {\f0\insrsid987019 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid987019 {\f0\insrsid8539656\charrsid15419608 (b) On any such sale, calling in, or conversion, or on the falling in of}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
any reversionary property, no part of the proceeds of the sale, calling}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 in, conversion, or falling in, shall be applied as past income.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid15419608 {\f0\insrsid987019 
\par }{\f0\insrsid8539656\charrsid15419608 (2) This section shall apply only in respect of the wills of persons who die}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 after the date of the commencement of this Act.
\par }{\f0\insrsid987019  
\par }{\f0\insrsid8539656\charrsid15419608 (3) This section shall apply if and so far only as a contrary intention is not}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
expressed in the will of the deceased, and shall have effect subject to the terms of}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 that will.
\par }{\b\f0\insrsid987019 
\par }{\b\f0\insrsid8539656\charrsid15419608 86 Fees and commission deemed a testamentary expense
\par }{\f0\insrsid987019 
\par }{\f0\insrsid8539656\charrsid15419608 The fees, commission, remuneration and other charges payable to a trustee}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 in respect of the administration of the estate of a deceased person shall be deemed}{
\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 to be testamentary expenses.
\par }{\b\f0\insrsid987019 
\par }{\b\f0\insrsid8539656\charrsid15419608 87 Costs of inquiring regarding beneficiaries
\par }{\f0\insrsid987019 
\par }{\f0\insrsid8539656\charrsid15419608 The costs, expenses and charges of the trustee of any property in respect of}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 any inquiries made by him to ascertain the existence and identity of any person or
}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 persons entitled to any legacy, money, or distributive share in the property or}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
otherwise incurred in relation to it shall be borne by and paid out of the legacy,}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 money, or distributive share of the person or persons in respect of whom the}{\f0\insrsid987019  }{
\f0\insrsid8539656\charrsid15419608 inquiries were made.
\par }{\b\f0\insrsid987019 
\par }{\b\f0\insrsid8539656\charrsid15419608 88 Life tenant to have powers of a trustee in certain cases
\par }{\f0\insrsid987019 
\par }{\f0\insrsid8539656\charrsid15419608 (1) In any case where there is no trustee of any land, but the land is for the}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 time being lawfully vested in any person enti
tled to the possession of it or to the}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 receipt of the rents and profits from it for an estate for life, or for a term of years}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 
determinable with his life, or for any greater estate, that person may exercise all}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 the powers conferred on a trustee by this Act, and the Court may confer on that}{\f0\insrsid987019  }{
\f0\insrsid8539656\charrsid15419608 person all the powers which it could confer on a trustee under this Act; and}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 anything done by any such person in exercise of any such power shall have the}{
\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 same force and effect as if it had been done by a trustee.
\par }{\f0\insrsid987019 
\par }{\f0\insrsid8539656\charrsid15419608 (2) Nothing in this section shall authorise any such person to sell any such}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 land, or to raise any capital money by a mortgage of it or other dealing with it,}
{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 unless the money paid on the sale or the capital money so raised is paid to a}{\f0\insrsid987019  }{\f0\insrsid8539656\charrsid15419608 trustee who is duly appointed and entitled to receive it.}{
\f0\insrsid8539656 
\par }{\f0\insrsid987019\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 89 }{\f0\insrsid8539656\charrsid15419608 [Spent]}{\f0\insrsid8539656 
\par }{\f0\insrsid987019\charrsid15419608 
\par }{\b\f0\insrsid8539656\charrsid15419608 90 Regulations}{\b\f0\insrsid8539656 
\par }{\b\f0\insrsid987019\charrsid15419608 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid987019 {\f0\insrsid8539656\charrsid15419608 Cabinet may make such regulations as it thinks fit for the purposes of this}{\f0\insrsid10242844  }{\f0\insrsid8539656\charrsid15419608 Act.}{
\f0\insrsid11087364\charrsid15419608 
\par }}