Hong Kong Ordinances

PROBATE AND ADMINISTRATION ORDINANCE - SECT 69

Power to appoint trustees of infant's property

(1) Where an infant is absolutely entitled under the will or on the intestacy
of a person dying before or after the commencement of this
Ordinance (in this subsection called "the deceased") to a devise or legacy, or
to the residue of the estate of the deceased, or any share therein, and such
devise, legacy, residue or share is not under the will, if any, of
the deceased, devised or bequeathed to trustees for the infant, the
personal representatives of the deceased may appoint a trust  corporation or
two or more individuals not exceeding four (whether or not including the
personal representatives or one or more of the personal  representatives), to
be the trustees of such devise, legacy, residue or share for the infant, and
may, subject to the provisions of section 54, execute or do any assurance or
thing requisite for vesting such devise, legacy, residue or share in the
trustee or trustees so appointed; and on such appointment the
personal representatives, as such, shall be discharged from all further
liability in respect of such devise, legacy, residue or share, and the same
may be retained in its existing condition or state of investment, or may be
converted into money, and such money may be invested in any authorized
investment.

(2) Where a personal representative has before the commencement of this
Ordinance retained or sold any such devise, legacy, residue or share, and
invested the same or the proceeds thereof in any investments in which he was
authorized to invest money subject to the trust, then, subject to any order of
the court made before such commencement, he shall not be deemed to have
incurred any liability on that account, or by reason of not having paid or
transferred the money or property into court. [cf. 1925 c. 23 s. 42 U.K.]