LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Official Trustees Act,1913

Act No : 2


Section : Power of private trustees to appoint Official Trustee to betrustee of property

11. Power of private trustees to appoint Official Trustee to betrustee of property.-(1) If any property is subject to a trust otherthan a trust which the Official Trustee is prohibited from acceptingunder the provisions of this Act, and all the trustees or thesurviving or continuing trustee or trustees and all personsbeneficially interested in the trust are desirous that the OfficialTrustee shall be appointed in the room of such trustee or trustees, itshall be lawful for such trustee or trustees, by an instrument inwriting to appoint the Official Trustee by that name or any othersufficient description with his consent to be the trustee of suchproperty: Provided that the consent of the Official Trustee shall berecited in the said instrument and that such instrument shall be dulyexecuted by him. (2) Upon such appointment such property shall vest in theOfficial Trustee and shall be held by him upon the same trusts as thesame was held previously to such appointment, and the previous trusteeor trustees shall be exempt from all liability as trustees of suchproperty save in respect of acts done before the date of suchappointment.


Read All Comments

Comments