Trustees Act 1853 No 4a (NSW)

No. IV.

Tn™s, exteTitl tliG provisions of “ The Trustee

Act of 1852.” [4ft M y , 1853.]

"HEREAS it is expedient to extend the provisions of the Trustee

Governor of Ntnv South Wales by and with tlie advict' and consent W ’ Act of 1852 Be it therefore enacted hy His Excellency the

of the Legislative Council thereof as follows :—

uiTe an order for ̂’ deci’ce or Order shall have been made liy the

vestinjj the estate in Supreme Coiift directing the sale of any lands for any purpose what-

a partĵ tô tho sn̂ cvci’y ptu’son scised Of posscssod of sucli land or entitled to a

after a decree or	Contingent fight thcreiii being a party to tlie suit or proceeding in
order for sale.	which such decree or order shall have been made and hound thereby or lieing otherwise hound l)y such decree or order shall he deemed to

" he

1853. ir VIC. No. 4. 2623

Trustees.

be so seised or possessed or entitled (as tlie case may be) ujion a trust within the meaning of the said Trustee Act of 1852 and in every such case it shall be lawful for the said Supreme Court if the said Court shall think it expedient for the purpose of carrying such sale into effect to mak( ̂an order vesting such lands or any part thereof for such estate as the Court shall think fit either in any purchaser or in such other person as the Court shall direct and every such order shall have the same effect as if such person so seised or possessed or entitled had been free from all disability and had duly executed all proper conveyances and assignments of such lands for such estate.

2.               Sections seventeen and eighteen of the said Trustee Act of Power to make an

1852 arc hereby repealed and in every case where any person is or

or shall be jointly or solely seised or possessed of any lands or (entitled neglect ot a tnisteo

to a contingent right therein upon any trust and a demand sliall hav('

been made upon such trustee liy a person entitled to require a

conveyance or assignment of such lands or a duly autliorized

agent of such last-mentioned jierson requiring such trustee to

convey or assign the same or to rtdease such contingent right it shall

be lawful for the said Supreme Coui’t if the said Court sliall lie

satisfied tliat such trustee has wilfully refused or neglected to convey

or assign the said lands for the space of twenty-eight days after such

demaud to make an order vesting such lands in such person in such

manuer and for such estate as the Court shall direct or releasing such

contingent right in such manner as the Court shall direct and the said

order shall have the same (effect as il' the trustee had duly executed a

conveyance or assignment of the lands or a release of such rigid in the

same manner and for the same estate.

3. When any infant shall be solely entitled to any stock upon Power lo nmke an

any trust it shall be lawful for the Supreme Court to make an oi'der

vesting in any person or persons the right to transfer such stock or to iiends or stock in

receive the dividends or income thereof and Avhen any infant shall be

entitled jointly with any other person or persons to any stock upon

any trust it shall be lawful for the said Court to make an order vest­

ing the right to transfer such stock or to receive the dividends or

income thereof either in the person or persons jointly entitled with

the infant or in him or them together with any other person or per­

sons the said Court may appoint.

4. Where any person shall neglect or refuse to transfer any On neglect totraiHici

stock or to receive the dividends or income thereof or to sue for or

recover any chose in action or any interest in respect thereof for tint nmy made vost-

space of twenty-eight days next after an order of the Snprtane Court

for that purpose shall have been served upon him it shall be lawfuHkmit simii appoint,

for the said Court to make an order vesting all the right of such per­

son to transfer such stock or to receive the dividends or income thereof

or to sue for and recover such chose in action or any interest in

respect thereof in such person or persons as the said Court may

appoint.

5. When any stock shall be standing in the sole name of a On like ncgicet by deceased person and his personal rejircsentativc shall refuse or neglect oXiMnay ice'll,a ic to transfer such stock or receive the dividends or income thereof for

the space of twenty-eight days next after an order of the Supreme Court for that pui’posc shall have been served upon him it shall be lawful for tlie said Court to mak( ̂an order vesting the right to transfer such stock or to receive the dividends or income thereof in any person or persons whom the said Court may appoint.

0. When any order being or pui’porting to be under this A ct Companies amias«u

or under the Trustee Act of 1852 shall be made by the Supreme Court vesting the right to any stock or vesting the right to transfer any

T—VOL. 4. stock

2624 No. 4. 17̂ VIC. 1853,

Trustees.

stock ov vesting the right to call for the transfer of any stock in any person or persons in every such case the legal right to transfer such stock shall vest accordingly and the person or persons so appointed shall be authorized and empowered to execute all deeds and powers of attorney and to perform all acts relating to the transfer of such stock into his or their own name or names or otherwise to the extent and in conformity with the terms of the order and all companies and associations whatever and all persons shall be equally hound and compellable to comply with the requisitions of such person or persons so appointed as aforesaid to the extent and in conformity with the terms of such order as such companies associations or persons -would have been ]30und and compellable to comply with the requisitions of the person in whose place such appointment shall have been made.

Indemnity to com­

pany so obeying.

7. Every order made or to be made being or purporting to be made under this Act or the Trustee Act of 1852 hy the Supreme Court and duly passed and entered shall be a complete indemnity to all companies and associations whatsoever and all persons for any act done pursuant thereto and it shall not be necessary for such company or association or person to inquire concerning the propriety of such order or -whether the said Court had jurisdiction to make the same.

Power to appoint

new trustees in lieunew n usiccrt Hi lieu i j ? I ’ l i i i t j i 8. When any person is or shall be jointly or solely seised or

of persons convicted posscssed 01 aiij laiids 01* entitled to any stock upon any trust and of felony. such pcrsou lias been or shall he convicted of felony it shall he lawful

for the Supreme Court upon proof of such conviction to appoint any person to he a trustee in the place of such convict and to make an order for vesting such lands or the right to transfer such stock and to receive the dividends or income thereof in such ]3crson to he so appointed trustee and such order shall have the same effect as to lands as if the conviet trustee had been free from any disability and had duly executed a conveyance or assignment of his estate and interest in the sanu'.

Power to the Court

to appoint new	9. In all cases where it shall be expedient to appoint a new to do without the assistance of the Supreme Court it shall be lawful for the said Court to make an order appointing a new trustee or new trustees whether there be any existing trustee or not at th(i time of making such order.
trustees where there	trustee and it shall he found inexpedient diflicult or impracticable so
is no existing
trustee.
Supreme Court may
make order for	10. In every case in which the Supreme Court has jurisdiction transfer of land or stock or to make a vesting order it shall be lawful for the said Court also to make an order appointing a new trustee or ne-w trustees.
appointment of	under this Act or the Trustee Act of 1852 to order a conveyance or
trustees.

a3 *̂ pwtof shall be read and construcid according to the

Act of 1852.

definitions and interpretations contained in the second section of the Trustee Act of 1852 and the provisions of the said last-mentioned Act (except so far as the same are altered hy or inconsistent with this Act) shall extend and apply to the cases provided for by this Act in the

•

same w'ay as if this Act had been incorporated with and had formed

part of the said Trustee Act of 1852.

No. V,