Permanent Trustee Company of New South Wales (Limited) Act (NSW)

1888.   52° VIC.

Permanent Trustee Company o f New South Wales {Limited).

ANNO QUINQXJAGESIMO SECUNDO

V I O T O E I ^ E E G I N J 5 .

5̂ * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *

All Act to confer powers upon the Pernia- nent Trustee Company of Neir South wIlksTlim̂").

Wales (Limited).” [ 2 6 June, 1888.]

T ^ T IIE E E A S in this Colony it is often difficult to procure proper Preamble.

VV persons to undertake the onerous and responsible duties of

trustee, executor, or administrator. And whereas the deaths, resig­ nations, and absence from the Colony of executors, trustees, and others filling similar offices are often attended with great disadvantage and loss to the estates with, the administration of which they are entrusted. And whereas it is desiral^lc, for the purpose of obtaining regularity and security in the administration of trust estates, that permanent corporations should he emjiowered to fill the offices of trustee, executor, administrator, receiver, agent, and other like offices; and whereas a certain Company, styled the “ Permanent Trustee Compairy of New South Wales (Limited),” has been registered under the Companies’ Act, with a capital of one million pounds, divisible into two hundred thousand shares of five pounds each, for the purpose of undertaking the duties of such offices as aforesaid for a commission. And whereas it is expedient that the necessary powers should he conferred upon the said Company, hereinafter called the Company, in order to enable it to act as executor, administrator, administrator with the will annexed, trustee, receiver, committee of the estates of persons of unsound mind, and as agents, and to perform and discharge all the duties of such offices and to receive remuneration therefor, and to confer upon the Company all such privileges and powers as are necessary or expedient for the purposes aforesaid. Be it therefore enacted by the Queen’s Most Excellent Majesty, by and with the advice and consent of the Legislative Council and Legislative Assembly of New South Wales in Parliament assembled, and by the authority of the same, as follows :—

1. Whenever the Company has been or shall he named as company may act as executor in the wall, or in the codicil to the will of any testator, it shall ê teentor ami obtain he lawful for the Company to act as executor, and to apply for and to

obtain probate of the Avill of the testator, and to perform and to discharge all other the acts and duties of an executor as fully and effectually as any other executor.

2. It shall he lawful for any person or persons entitled to obtain Person entitled to

letters of administration with the will of any testator annexed of the administration with estate of such testator, to authorize the Company to apply for and to the win annexed may obtain letters of administration with the will annexed, which may he to do ”o?

granted to the Company upon its own application when so authorized.

3. It shall he lawful for any person or persons entitled to obtain persons entitled to

letters of administration of the estate of any intestate as his or her °^ |̂“igtraUon La

next of kin, to authorize the Company to apply for such letters of authorize company

administration,

22 52° VIC. 1888.

Permanent Trustee Company o f New South Wales {Limited).

administration, and administration of the estate of the intestate may he granted to the Company upon its own application when so authorized.

Company on being

granted letters of	4. It shall be lawful for the Company, where the administration
administration may

perform all acts which

of any estate, with or without the will annexed, has been granted to

belong to the office of

administrator notwith­

it, to do and perform all acts and duties which belong to the office of

standing its incorpo­

ration.

administrator, or administrator with the will annexed, as the case may

he, notwithstanding its incorporation.

Court to act upon	.	5. In all cases in Avhich the Company is empowered under this
d̂ ector	^Pply 0̂̂ ’ pi’ohate 01' foi’ Icttei’s of administration, an affidavit

acting manager” in naadc by the managing director, manager, or acting manager of the

probaTe*or"admini8- Company shall he received instead of any affidavit required by any

tration. Charter, Act of Parliament, or rule of Court, to he made by persons

making application for probate or letters of administration.

Assets of Company 6. All the Capital, hotli paid and unpaid, and all other assets of

ndmlnUtration Company of which paid-up capital twenty thousand pounds shall

estates, and no bond hc invcstcd iu thc pui'cliase of debentures or inscribed stock in such

to administer to be , public funds of the Colony as the directors of the Company may

required when

paid-up capital is

£25,0(X), of which	select in the name of the Colonial Treasurer in trust for the Company,
£20,000 is invested	hut transferable only with the joint consent of the said Treasurer and
in Government	the Company, or upon the order of the Supreme Court or of a Judge
securities.	thereof shall he liable for the proper administration of all estates of which the Company shall act as executor or administrator; and no bond for the due administration of any estate shall he required to he given by or on behalf of the Company, except in respect of estates exceeding twenty thousand pounds in value, in which the said Court or a Judge thereof shall otherwise order, and all interest and income to accrue from time to time from or in respect of all such debentures and inscribed stock, shall he paid by the said Treasurer to the Company as and when the same shall respectively become payable.

Company may be	7. It shall he lawful for any Court or Judge or person, now or
appointed trustee,

receiver, committee, hereafter, having power to appoint trustees, receivers, committees of

guaniiau orrsiate. tlic cstates of pei'sons of unsound mind, or guardians of the estates of infants, in any case to appoint the Company to be trustee, receiver, committee, or guardian, as the case may he, and upon any such appointment all the capital of the Company, both paid and unpaid, and all other assets of the Company, and the managing director, manager, or actmg manager, as the case may be, and directors, and their respective estates, shall be liable for the proper discharge of the duties of the office, either of trustee, receiver, committee, or guardian, as the case may he ; and so soon as the Company shall possess a paid-up capital of not less than twenty-five thousand pounds, of which paid-up capital twenty thousand pounds shall he invested as aforesaid, no bond or recognizance for the proper discharge of such duties shall he required to he given by or on behalf of the Company. Provided that the Company shall not he so appointed trustee of any deed or will which shall forbid the appointment of a Company as trustee thereof, nor in any case in which the majority of the persons who shall he beneficially interested shall not consent to such appointment, unless the consent of the Primary Judge in Equity of the Supreme Court shall have been first obtained.

Company may act as	8. It shall he lawful for the Company to act as attorney for
attorney by

managing director	any person or any corporation, and all the powers conferred upon the
or manager jointly	Company by any power-of-attorney or otherwise may he exercised and
with two directors.	carried into execution by the managing director or the manager, jointly with any two of the directors of the Company; but in all cases the capital, both paid and unpaid, and all other assets of the Company shall he liable for the due execution of the powers so conferred upon the Company. Provided always that nothing herein contahied shall

be

1888.   52̂ VIC.

Permanent Trustee Company o f Neio South Wales (Lim ited).

be deemed to autliorize any person, company, or corporation to confer any power upon tlic Company wliich cannot by law be delegated or performed by attorney.

9. It sball be lawful for any executor, administrator, or trustee. Executor, adminis-

by deed to delegate to the Company, as bis attorney, all such trusts deicgairtrusuTo™*̂

and powers as may by law be delegated, and all acts done by the Company.

Company Avitliin the scope of such delegation shall, in favour of any

persons dealing Avith the Company without notice of the death of or revocation of authority hy such executor, administrator, or trustee, be A'alid and effectual, iiotAvithstanding such death or revocation.

10. It shall he lawful for the Supreme Court or any Judge Executors or admin,

thereof sitting in its ecclesiastical jurisdiction, on the application of |.o'̂ î̂ nt*oru!ê ''*’

any executor or administrator acting under any probate or letters of Judge, may appoint

administration, granted cither before or after the coming into operation fhaTe duties!**'

of this Act, to appoint the Company to be administrator in his place

°

or stead ; and thereupon the Company shall liaA'c the same poAvers and authorities as if it had been the original executor or administrator, as the case may be ; and in CA'cry such case all the capital, both paid and unpaid, and all other assets of the Company, and the managing director, manager, or acting manager, as the case may be, and directors and their respective estates shall be liable for the due adminis­ tration of the estates of Avhich the Company shall be so appointed administrator.

11. EÂ ery application to the Court or any Judge shall he by Application for

motion, and notice of tlic intended application shall be advertised in a

daily ncAvspaper published in Sydney, at least seven days before the making thereof, and if the application shall he made by the executor or administrator of any testator or intestate Avho shall liaA'e died in N cav South W ales, a like notice shall also he advertised once in some neAvspaper (if any) published in the district in which such testator or intestate shall have resided; and the Court or any Judge may require any person resident in NeAV South W ales, and entitled to the immediate receijit of any of the income or corpus of the estate in respect of Avhich the application is made, to be serAX'd Avith notice thereof, and the costs of such application shall be in the discretion of the Court or Judge, and may be ordered to be paid out of the estate.

12. Whenever an executor, administrator, trustee, receiver. Managing director,

committee, or guardian is or shall be required by any laAV, Charter, Act “anap̂ nmpattend

of Parliament, or rule of Court, to attend in person in any Court of behalf of

Justice or elscAAdicre, it shall he laAvful for the Company to attend by dir™torB^m"d shall

its managing director, manager, or acting m anager; and all affidavits, be personally

statements of defence, or other statements required by law to be made

•

on oath may be made and sAVorn on behalf of the Company by its managing director, manager, or acting m anager; and Avhenever probate or letters of administration shall have been granted to the Company, and Avhenever the Company shall be appointed and shall act as trustee, receiver, committee, or guardian, the managing director, manager, or acting manager, as the case may he, and directors in their OAvn proper persons and estates shall be individually and collectively responsible for the due administration of the estates entrusted to the Company, and shall in their OAvn proper persons be liable by process of attach­ ment, commitment for contempt, or by other process to all Courts having jurisdiction in that behalf in the event of disobedience to the rules, orders, and decrees of such Courts made against the Company in the same manner and to the same extent as if such managing director, manager, or acting manager, or directors, had personally obtained in’obate or letters of administration and had acted as executor, administrator, trustee, receiver, committee, or guardian, and as if the rule, order, or decree, had been made against them personally instead

of

52'’ VIC. 1888.

Permanent Trustee Company o f New South Wales (L im ited).

of against the Company; but notwithstanding such personal responsi­ bility of the said managing director, managei’, acting [manager, or directors, the capital, both paid and unpaid, and all the assets of the Company shall remain liable for any loss Avhidi may be occasioned by or which may happen through any breach of trust or duty committed by the Company or any of its officers, whether such trust or duty be implied by law or expressly conferred by the instrument under wliich the Company shall act. And no person shall be appointed as director or manager of the said Company unless he is a hond fule resident of New South Wales ; and any person being a director or manager of tlic said Company, who ceases to reside in New South Wales, shall upon so ceasing to reside vacate his office, and such vacancy shall be filled up in the manner provided by the articles of association for filling casual vacancies.

Company to be paid	13.	The Company shall be entitled to receive, in addition to all
a commission on

moneys received	moneys properly expended by it, and chargeable against any estate of
by tliem.	which the administration shall be committed to the Company, whether as executor, administrator, trustee, receiver, committee, or guardian, a commission at a rate to be fixed from time to time by the board of directors of the Company, but not to exceed in any case two pounds ten shillings for every one hundred pounds of the corpus or capital value of any such estate, and five pounds for every one hundred pounds of the annual income of any siicli estate received by the Compimy and of all moneys (whether capital or income) received by the Company as an attorney or agent, and such commission shall be payable out of the moneys in the possession of the Company representing the estate upon wliich the same shall be chargeable, and shall be accepted by the Company in full satisfaction of any claim to remuneration for acting as such executor, administrator, trustee, receiver, committee, guardian, attorney, or agent, and no other charges beyond such commission and moneys properly expended by the Company shall be made or allowed. Provided that if in any estate the Primary Judge in Equity shall be of opinion that the rate of commission charged is excessive such Judge may review and reduce such commission. Provided also that the commission to be cliarged by the Company against any estate shall not exceed the amount of the published scale of charges of the Company at the time when the administration of such estate was committed to the Company, nor shall this enactment prevent the payment of any commission directed by a testator in his will either in addition to or in lieu of the commission hereinbefore authorized.
Company may be

removed from office Id. Whenever the Company shall have been appointed executor,

by Court.	administrator, trustee, receiver, committee, guardian, or attorney, it shall be subject in all respects to the same control and to removal or restraint from acting and generally to the jurisdiction of the Courts in the same manner as any other executor, administrator, trustee, receiver, committee, guardian, attorney, or agent.
Or^er for account on

application of trustee 15. It shall be lawful for any trustee cesUd que trust, executor,

cestui que trust, &c. or legatee, administrator, or next of kin, or creditor entitled to or interested in any estate which shall for the time being be under the management or control of the Company, after demand in writing made to the managing director, manager, or acting manager of the Company, for a sufficient account of the property and assets of which such estate shall consist, and of the disposal and expenditure thereof or thereout; and upon noncompliance with such demand within a reasonable time to apply to the Primary Judge in Equity of the Suj)remc Court in a summary manner, upon motion after notice to the Company for an account; and if the said Judge shall be of opinion that no sufficient account has been rendered by the Company, the said Judge shall order

such

1888.   52« VIC.

Permanent Trustee Companij o f Kew South Wales (Limited).

siicli account to be rendered by the Company as to the said Judge sball seem just, or if the said Judge shall think that under the eireuni- stances the Company was not hound to furnish any account, or that a sutTicient account had been furnished, it shall he lawful for tlic said Judge to dismiss the application; and the said Judge shall have power in all cases to make such order as to costs either against the Company or against the applicant or as to payment of costs out of the estate as to the said Judge shall seem right.

10. It shall he lawful for the said Primary Judge, upon the riimary .Tmige may

making of anv arinlication under the last preceding section, to order in amiii in any

addition to or in substitution for any account to be rendered by tlic Company. books and accounts of the Company in reference to the estate as to which the order is made, and in that case the directors and officers of the Company shall deliver to the person named in such order a list of all books kept by the Company, and shall produce to such person at tlic office of the Company, at all reasonable times when required, all liooks and accounts, vonchers, papers, and other documents of the Company relating to sucli estate, and shall afford to him all necessary information and all other necessary facilities for enahling him to make the said examination; and the said Judge shall have the same power over the costs of such examination as is givem by the last preceding section over the costs of an application under that section.

17. So long as any estate in respect of which the Company is Voluntary wimiing executor, administrator, trustee, committee, or guardian, shall remain alsposia°of'sharer in Avholc or in part nnadministcred, it shall not be lawful to proceed may be resirained by

to wind-up the Company voluntarily unless with the sanction

Judge,

of the said Primary Jud ge; and it shall be lawful for any person interested in such estate or who may have any claim in respect thereof to apply to the said Judge in a summary way by motion to restrain any director or any shareholder I'roin disposing of any shares Avliich such director or shareholder may hold in the Company, or to restrain the winding-up voluntarily of the Company; and the said Judge shall have power to make such order upon snch application as the circum­ stances of the case shall appear to the said Judge to require.

18. If it be proA'cd at any time to tbe satisfaction of tbe I’limiiry Judge may

Primary Judge that three-fourths or more of the auiount of caiiital, authorized liy tliis Act to be called up, has been lost by the Company, it shall be lawful for such Judge, upon the application of any memhi'r, creditor, or cestui que trust of the Company to make an order for the winding-up of the Company.

19. The folloAving provisions Avith respect to the qualification Provisions as to

and liability of shareholders in the Company shall be and remain in ''li!™!.

force notAvithstanding any alteration Avhicli may be made in its articles iiouiers ami directors,

of association—^

No member shall liold more than tAA'o thousand shares nor less tlian fifty shares in his oAvn right. Provided that if the capital of the Company shall be increased by the issue of ncAv shares, the nnmber of shares Avhich may be held by each member shall be proportionately increased.

Shareholders in the Company shall be persons residing in the Colony of N cav Soutli lYales, and ])osscssing property therein to such amount as the Hoard of Directors of the ComjJany shall consider a reasonable qualification.

No more than one pound fiA'c shillings per share shall he called up except in tlie event of and for the purpose of the winding Aip of the Company, and every member sliall in such evi'ut lie liable to contribute the unpaid balance of every share held by him.

26 52̂ VIC. 1888.

Permanent Trustee Company of New South Wales (Lim ited).

In the event of the Company being -wound up, every person who has been a director of the Company at any time within the period of two years preceding the commencement of the winding-up shall he liable for the balance unpaid on every share which he may have transferred during such two years in addition to his liability upon any shares held hy him at the commencement of the winding-up, in the event of the holder or holders of such shares being unable to pay the said balance per share in full.

The capital of the Company shall he and remain divided into shares of five pounds each, and the number of shares in the Company shall not be at any time reduced to less than one hundred thousand.

Moneys remaining 20. All moncys wliicli fomi part of any estate of which at any

yearrtT bJp 'afd into Coiupaiiy sliall be cxecutor, administrator, or trustee, and Colonial Treasury, wliicli inoncys shall remain unclaimed by the person entitled to the

same for a period of five years after the time Avhen the same shall have become payable to such person, except when payment has been or shall be restrained by the injunction of some Court of competent jurisdiction, shall together with interest at current rates on fixed deposits in Banlcs be paid by the Company into the Colonial Treasury, to be placed to the credit of a fund to he called the testamentary and trust fund, distinguishing the particular cstates in respect of which such moneys shall have been paid; and the Colonial Treasurer shall from time to time invest such moneys in the purchase of Government debentures or stock, to be placed to the credit of the said testamentary and trust fund, distinguishing in the ledger the particular estate in respect of which such moneys have been invested; and the interest j)ayable on such debentures or stock shall he placed to the credit of the said fund, and the said Treasurer’s said account in the ledger shall be an official and not a nominal account, and in all transfers of the said debentures and stock by the said Treasurer he shall be so styled without any name, addition, or description, and he shall not sign any such transfers or pay over any of the moneys standing to the credit of the said fund unless an order of the Primary Judge in Equity directing such transfer and specifying the amount of moneys, debentures, or stock, and the name, description, and addition of the person to whom the proceeds of such sale are to bo paid shall be left at the office of the said Treasurer, nor, until the purchase money of the debentures or stock to be sold has been received in the Colonial Treasury; and the Company shall at the end of every six months deliver to the said Treasurer a statement of all such unclaimed moncys Avhich during the preceding six months shall have been in its hands, and distinguishing the several estates in respect of AAdiich the same haA'c been received, and setting out the dates and amounts of the several payments of the same under this section, and if the said moneys or any part thereof have not been paid into the Colonial Treasury stating the reason for the delay of such payments, and if default is made in compliance with the foregoing provisions of this section, the Company shall be liable to a penalty not exceeding five pounds for every day while such default continues, and every director and managing director, manager, or acting manager of the Company who knoAvingly and wilfully authorizes or permits such default shall incur the like penalty.

^1. I t shall be lawful for any person Avho shall be entitled to

tary antitrust fund any stoclv debentures or moneys which shall at any time form part of

testamentary and trust fund to apply to the said Primary

° ’ Judge upon petition in a summary way for such order as is in the last preceding section referred to, and the said Judge shall deal Avitli such application as nearly as may be in the same manner as in the case of

applications

1888.   52'̂ VIC.

Permanent Trustee Company o f New South Wales {Limited).

applications to tlie said Court under tlie “ Trustee Relief Act of 1858.” And in all cases in wliicli the Colonial Treasurer may sec fit to appear upon such petition he shall he entitled to such costs against the appli­ cant or out of the fund as the said Judge may direct.

22. It shall he lawful for the Colonial Treasurer, after demand Order for account on in writing addressed to the managing director, manager, or acting application of

manager of the Company for a sufficient account of the property and

Treasurer,

assets of ivhich any or every estate included in, or which ought to he or to have heeii included in, the hereinheforo mentioned statement of unclaimed moneys shall consist, and of the disposal and expenditure thereof or thereout, to apply to the said Primary Judge in a summary way upon motion after notice to the Company for an account, and if the said Judge shall he of opinion tliat no sufficient account has heen rendered hy the Company the said Judge shall order such account to he rendered hy the Company as to the said Judge shall seem just, or if the said Judge shall think that under the circumstances the Company was not hound to furnish any account or that any account furnished hy tlic Company was sufficient, it shall he lawful for the said Judge to dismiss the application, and the said Judge shall liaAX power in all cases to make such order as to costs either against the Company or as to payment of costs out of the estate as to the said Judge shall seem right.

23. The managing director, manager, or acting manager of the Returns to be made

Company, and the auditors of the Company, shall, during the months company to be

of January and July in every year during whicn tlie Company carries omce oftiieCompany

on husiness, make heforc some Justice of tlie Peace a declaration in

the form contained in tlie Schedule hereto, or as near thereto as cir­ cumstances Avill admit, of the receipts, expenditure, and investments of and in all cstates and property held hy the Company in trust up to the thirty-first day of Decemher, or thirtieth day of June then last p a st; such declaration shall, Avithin scA'cn days after the making thereof, he filed in the office of the Master in Equity, and a copy of such declaration shall he put up in a conspicuous place in the registered office of the Company, and in CA’cry hranch office or place where the husiness of the Company is carried on, and shall he given to any memher or creditor of the Company, or any cestui que trust Avho applies for the same, and if default is made in compliance Avith the jArovisions of this section the Company shall he liahlc to a penalty not exceeding five pounds for every day AA’hilc such default continues, and every managing director, manager, or acting manager of the Company, and the auditors of the Company, Avho knowingly and Avilfully authorize or permit such default shall incur the like penalty.

24. EA’cry order made hy the Primary Judge in Equity under Appeal from Primm-j

this Act shall he sulqect to appeal in the same manner and under the

same conditions as other orders of the said Judge.

25. Nothing in this A ct contained shall he deemed to gA c to Act not to preclude

the Company any right to oppose the granting of similar poAvers to appqin̂ ̂

those conferred upon the Company hy this A ct to any other Company similar powers to

or to corporations generally or to claim or to seek compensation in [Jl™

consequence of such poAvers hoing conferred upon any otiier Company

or upon corporations generally, or in the event of proAusion lieing

made hy Parliament for the management of trust estates hy a depart­

m ent or officer of the Government, or in the event of the repeal of

this Act.

26.   "VVlierc hy any settlement, will, codicil, or other testamentary gcuiors or testators

AAU'iting, a settlor or testator shall direct that any practising solicitor	appoint their
or solicitors shall conduct the legal husiness of his or her estate, such solicitor or solicitors shall he entitled to act therein accordingly, hut in such case the Company shall not he liahlc for the negligence, misfeasance, nonfeasance or misconduct of such solicitor or solicitors,

and

28 52̂ ’ VIC. 1888.

JPermanent Trustee Company o f New South Wales {Limited).

and such solicitor or solicitors may he removed hy order of the Primary Judge in Equity upon the application of the Company or of any person interested in the said estate upon cause shown, and then and in such case the said Judge may appoint the solicitor or solicitors of the Company to conduct such legal husiness.

Incorporation and	27. Except so far as is herein expressly provided the Company
powers of Company,

except so far as

shall he subject to the same restrictions, liabilities and penalties, and

specifically altered,

have the same rights, privileges, and poAvers as it is subject to, and

to remain.

has under its present incorporation, and this Act shall not otherwise

affect the incorporation of the Company.

Rccorery of penal*

ties. 28. Any penalty imposed hy this Act may be recovered in a

summary way before two Justices of the Peace.

Short title of Act, 29. This Act shall he called and may he cited as the “ Perma­ nent Trustee Company of New South Wales (Limited) Act.”

SCHEDULE.

“ TVic Permanent Trustee Company o f Xcw South Wales (Limited')."

We [manager and auditors of tlic Company or as the case may Je] do licrcliy severally solemnly declare and affirm :—

That the liability of the members is limited.

That the capital of the Company is pounds, divided into shares

of pounds each.

Th.at the number of shares issued is

That calls to the amount of pounds shillings per share have been

made, under which the sum of pounds has been received.

That the debts owing to sundry persons by the Company on the day of

one thousand eight hundred and eighty- were—

On judgment ... ... ... ... ... ... £

On speciality ...	...	£
On notes or bills	...	£

On simple contract ...	£
On estimated liabilities	£

Total ... ... ... ... ... £

That the assets of the Company other than assets held on trust on the

day of one thousand eight hundred and eighty- were—

Government securities ... ... ... ... £

Bills of exchange and promissory notes ... ... £

Cash at the banks	...	...	...	...	...	£
Other securities	...	...	...	...	...	£

Total ... ... ... ... ... £

That the value of the real and personal property come to the hands of the Com­

pany as trustees, executors, administrators, receivers, and agents, up to and inclusive of

the day of one thousand eight hundred and eighty-

was as follows—

Estimated Values.

Heal property................................................................ £

Chattels real .. ... ... ... ... ... £

Moneys secured by mortgage of real property	...	£
Moneys secured by mortgage of personal property	£

Unsecured debts and claims... ... ... ... £

Debentures	...	...	...	...	...	...	£
Bank shares	...	...	...	...	...	...	£

Sh.ares in other companies (other than bank shares) £

Cash ... ... ... ... ... ... ... £

Total receipts ... ... ... ... £

That

1888.   52'’ VIC.

Saint Thomas Church Enfield Lands Sale.

That up to the , one thousand eight hundred and eighty- , the following

arc the amounts of—

]teal property conveyed to hcncficiaries	...	...	£
Cash paid to beneficiaries as corpus,..	...	...	£
Cash paid to beneficiaries as income	...	...	£

Cash applied in ])ayinent of debts ... ... ... £

Cash applied in payment of administration expenses £

Commission retained... ... ... ... ... £

Tot.al expenditure ... ... ... £

That the investment and moneys held by the Company, upon trust, on the

day of , one thousand eight hundred and eighty- , were as follows, vi/..-

Keal property.	£
Chattels real	£
Mortgages	£
Debentures	£
Bank shares	£
Shares in other companies	£
Money on deposit with banks and other companies	£

Cash on hand ... ... ... ... ... .. £

Total ................................................... £

And wo make this solemn declaration, as to the inattcrs aforesaid, according to the law in this behalf made, and subject to the punisluneut by law provided for aiiy wilfully false statement in any such declaration.