CHAPTER
58
JUDICIAL TRUSTEES |
ARRANGEMENT OF
SECTIONS |
SECTION |
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|
Power of court on application to appoint judicial
trustee. |
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CHAPTER 58 |
JUDICIAL TRUSTEES |
An Act to
provide for the appointment of Judicial Trustees. | 36 of 1969 |
[Assent 30th
December, 1969]
[Commencement 1st March, 1971] |
1. This Act may be cited as the Judicial Trustees Act. | Short title. |
2. In this Act- | Interpretation. |
"official of
the court" means the holder of such paid office in or connected with the
court as may be prescribed; |
"court"
means the Supreme Court. |
3. (1) Where application is made to the court by or on
behalf of the person creating or intending to create a trust, or by or on
behalf of a trustee or beneficiary, the court may, in its discretion, appoint a
person (in this Act called a judicial trustee), to be a trustee of that trust,
either jointly with any other person or as sole trustee, and, if sufficient
cause is shown, in place of all or any existing trustees. | Power of court on application to appoint judicial
trustee. |
(2) The
administration of the property of a deceased person, whether a testator or
intestate, shall be a trust, and the executor or administrator a trustee,
within the meaning of this Act. |
(3) Any fit and
proper person nominated for the purpose in the application may be appointed a
judicial trustee, and, in the absence of such nomination, or if the court is not
satisified of the fitness of a person so nominated, an official of the court
may be appointed, and in any case a judicial trustee shall be subject to the
control and supervision of the court as an officer thereof. |
(4) The court may,
either on request or without request, give to a judicial trustee any general or
special directions in regard to the trust or the administration thereof. |
(5) There may be
paid to a judicial trustee out of the trust property such remuneration, not
exceeding the prescribed limits, as the court may assign in each case, subject
to any rules under this Act respecting the application of such remuneration
where the judicial trustee is an official of the court, and the remuneration so
assigned to any judicial trustee shall, save as the court may for special
reasons otherwise order, cover all his work and personal outlay. |
(6) Once in every
year the accounts of every trust of which a judicial trustee has been appointed
shall be audited, and a report thereon made to the court, by the prescribed
persons, and, in any case where the court shall so direct, an inquiry into the
administration by a judicial trustee of any trust, or into any dealing or
transaction of a judicial trustee, shall be made in the prescribed manner. |
4. Rules may be made by the Rules Committee, constituted
under section 75 of the Supreme Court Act, for carrying into effect this Act,
especially- | Rules. |
(a) for
requiring judicial trustees, who are not officials of the court, to give
security for the due application of any trust property under their control; |
(b) respecting
the safety of the trust property, and the custody thereof; |
(c) respecting
the remuneration of judicial trustees and for fixing and regulating the fees to
be taken under this Act so as to cover the expenses of the administration of
this Act, and respecting the payment of such remuneration and fees out of the
trust property, and, where the judicial trustee is an official of the court,
respecting the application of the remuneration and fees payable to him; |
(d) for
dispensing with formal proof of facts in proper cases; |
(e) for
facilitating the discharge by the court of administrative duties under this Act
without prejudicial proceedings and otherwise regulating procedure under this
Act and making it simple and inexpensive; |
(f) respecting
the suspension or removal of any judicial trustee, and the succession of
another person to the office of any judicial trustee who may cease to hold
office, and the vesting in such person of any trust property; |
(g) respecting
the classes of trusts in which officials of the court are not to be judicial
trustees, or are to be so temporarily or conditionally; |
(h) respecting
the procedure to be followed where the judicial trustee is executor or administrator; |
(i) for
preventing the employment by judicial trustees of other persons at the expense
of the trust, except in cases of strict necessity; |
(j) for the
filing and auditing of the accounts of any trust of which a judicial trustee
has been appointed. |