Official Trustees Act,1913
Act No : 2
Section : General powers and duties of Official Trustee
7. General powers and duties of Official Trustee.-(1) Subject to,and in accordance with, the provisions of this Act and the rules madethereunder, the Official Trustee may, if he thinks fit,-- (a) act as an ordinary trustee; (b) be appointed trustee by a Court of competent jurisdiction. (2) Save as hereinafter expressly provided, the Official Trusteeshall have the same powers, duties and liabilities and be entitled tothe same rights and privileges and be subject to the same control andorders of the Court as any other trustee acting in the same capacity. (3) The Official Trustee may decline, either absolutely or excepton such conditions as he may impose, to accept any trust. (4) The Official Trustee shall not accept any trust under anycomposition or scheme of arrangement for the benefit of creditors, norof any estate known or believed by him to be insolvent. (5) The Official Trustee shall not, save as provided by any rulesmade under this Act, accept any trust for a religious purpose or anytrust which involves the management or carrying on of any business. (6) The Official Trustee shall not administer the estate of adeceased person, unless he is expressly appointed sole executor of,and sole trustee under, the will of such person. (7) The Official Trustee shall always be sole trustee, and itshall not be lawful to appoint the Official Trustee to be trusteealong with any other person.---------------------------------------------------------------------1 Subs. by the A. O. 1950 for "Division" which had been subs. bythe A. O. 1937 for "Presidency".68
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