VARIATION OF TRUSTS ORDINANCE

VARIATION OF TRUSTS ORDINANCE

LAWS OF HONG KONG

VARIATION OF TRUSTS ORDINANCE

CHAPTER 253





CHAPTER 253

VARIATION OF TRUSTS

To extend the jurisdiction of courts of law to vary trusts in the interests
of the beneficiaries and to sanction dealings with trust property.

[4 December 1964.]

1. This Ordinance may be cited as the Variation of Trusts
Ordinance.

2. In this Ordinance, unless the context otherwise requires-

'discretionary interest' means an interest arising under the trust
specified in section 35(1)(b) of the Trustee Ordinance or any like
trust.,

'principal beneficiary' has the same meaning as in section 35 of the
Trustee Ordinance;

'protective trusts' means the trusts specified in section 35 of the
Trustee Ordinance or any like trusts.

3. (1) Where property is held on trusts arising, whether before or
after the commencement of this Ordinance, under any will, settlement or
other disposition, the court may if it thinks fit by order approve on
behalf of

(a)any person having, directly or indirectly, an interest, whether
vested or contingent, under the trusts who by reason of
infancy or other incapacity is incapable of assenting; or

(b)any person (whether ascertained or not) who may be or may
become entitled, directly or indirectly, to an interest under the
trusts as being at a future date or on the happening of a future
event a person of any specified description or a member of
any specified class of persons, so however that this paragraph
shall not include any person who would be of that description.
or member of that class, as the case may be, if the said date
had fallen or the said event had happened at the date of the
application to the court; or

(c) any person unborn; or

(d)any person in respect of any discretionary interest of his
under protective trusts where the interest of the principal
beneficiary has not failed or determined,

any arrangement (by whomsoever proposed, and whether or not there is
any other person beneficially interested who is capable of assenting
thereto) varying or revoking all or any of the trusts, or





enlarging the powers of the trustees of managing or administering any
of the property subject to the trusts:

Provided that except by virtue of paragraph (d) the court shall not
approve an arrangement on behalf of any person unless the carrying out
thereof would be for the benefit of that person.

(2) Subject to the provisions of section 37(1)(b) of the District
Court Ordinance, the jurisdiction conferred by subsection (1) of this
section shall be exercisable by the High Court.

(3) Nothing in this section shall apply to trusts affecting property
settled by Ordinance.

(4) Nothing in this section shall be taken to limit the powers
conferred by section 12(2) of the Supreme Court Ordinance or by

section 56 of the Trustee Ordinance. (Amended, 92 of 1975, s. 58)
Originally 34 of 1964. 92 of 1975. Short title. Interpretation. [cf. 1958 c. 53, s. 1(2).] (Cap. 29.) Jurisdiction of courts to vary trusts. [cf. 1958 c. 53, s. 1.] (Cap. 336.) (Cap. 4.) (Cap. 29.)

Originally 34 of 1964. 92 of 1975. Short title. Interpretation. [cf. 1958 c. 53, s. 1(2).] (Cap. 29.) Jurisdiction of courts to vary trusts. [cf. 1958 c. 53, s. 1.] (Cap. 336.) (Cap. 4.) (Cap. 29.)

https://oelawhk.lib.hku.hk/items/show/2989

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