ADMINISTRATION OF TRUST FUNDS RULES

ADMINISTRATION OF TRUST FUNDS RULES

TRUSTEE.

ADMINISTRATION OF TRUST FUNDS RULES.

(Cap. 29, section 76).
(Ordinance No. IS Of 1934).

[27th July, 1934.]

1. These rules may be cited as the Administration of
Trust Funds Rules.

2. Any trustee desiring to pay money to the account
of, or to transfer or deposit shares, stock, or securities into
or in the name of, the Official. Trustee under the provisions
of the Ordinance, relating to the administration of trust
funds, shall file an affidavit setting forth-
(a) his own name and address;
(b)the place where he is to be served with any petition
or any notice of any proceeding or order of the court,
or of the judge in chambers, relating to the trust
fund;
(c)the amount of money, shares, stock, or securities,
which he proposes to pay or transfer into or deposit
in court, to the credit of the trust ;
(d)a short description of the trust and of the instru-
ment creating it;
(e)the name of the persons interested in or entitled to
the fund, to the best of the knowledge and belief of
the trustee ; and
the submission of the trustee to answer all such
inquiries relating to the application of the money,
shares, stock, or securities paid in, transferred, or
deposited under the Ordinance Lis the court or a
judge in chambers may think proper to rnake or
direct.

3 The Official Trustee, on production of an office copy
of the affidavit, shall give the necessary directions for pay-
ment, transfer, or deposit, and place the money, shares,
stock, or securities, to the account of the particular trust ;
and shall grant a certificate of such payment, transfer, or
deposit.





4. Where it is deemed unnecessary to have the money,
or the dividends or interest of the shares, stock, or securities,
invested in the meantime, the affidavit shall further contain.
a statement to that effect. But where the affidavit contains
no such statement, the Official Trustee shall be at liberty to
invest, as soon as conveniently may be, the money paid in
or the dividends or interest on the shares, stock, or securities
transferred, and all accumulations thereof, in or upon such
investments and securities as the court may direct or approve,
and every such investment shall be made in the matter of
the particular trust . Provided that where at any time a
request in writing, by or on behalf of any party claiming to
be entitled, that such investment may be discontinued is left
with the Official Trustee, he shall be at liberty to cease
making any further investment in the matter of the particular
trust until the court has made some order in that behalf.

5. The trustee, having made the payment, transfer, or
deposit, shall fortliwith give notice thereof to the several
persons named in his affidavit as interested in or entitled
to the fund.

6. Such persons, or any of them, or the trustee may
apply by petition, or, in a case where the fund does not
exceed two thousand dollars in value, by summons, respect-
ing the investment, payment out, or distribution of the fund
or of the dividends or interest thereof.

7. , The trustee shall be served with notice of any appli-
cation made to the court or in chambers respecting the fund,
or the dividends or interest thereof, by any person interested
therein or entitled thereto.

8. The persons interested in or entitled to the fund
shall be served with notice of any application made by the
trustee to the court or in chambers respecting the fund or
the dividends or interest thereof.

9. No petition shall be set down to be heard, and no
summons shall be sealed, until the petitioner or applicant
has first named. in his petition or summons a place where
lie may be served with any petition or summons or notice
of any proceeding or order of the court relating to the fund.





10. Every petition presented, summons issued, and
affidavit filed under the said provisions shall be entitled in
the matter of the Ordinance and in the matter of the parti-
cular trust.



CHAPTER 30.
(Ordinance No. 14 Of 1886).
WILLS.
No subsidiary legisiation.
Ord. 18 of 1934 s. 76(2). First Schedule. Citation. Affidavit to be filed by trustee desiring to pay money of , or to deposit shares, etc., in name of, Official trustee. (Cap. 29.) Directions for payment of money, etc. Investment of moneys. Notice of payment, etc., to cestui que trust. Applications relating to fund. Notice to trustee of application by cestui que trust. Notice to cestui que trust of application by trustee. Place for service on applicant. Title of petition, etc.

Ord. 18 of 1934 s. 76(2). First Schedule. Citation. Affidavit to be filed by trustee desiring to pay money of , or to deposit shares, etc., in name of, Official trustee. (Cap. 29.) Directions for payment of money, etc. Investment of moneys. Notice of payment, etc., to cestui que trust. Applications relating to fund. Notice to trustee of application by cestui que trust. Notice to cestui que trust of application by trustee. Place for service on applicant. Title of petition, etc.

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