Hong Kong Ordinances

VARIATION OF TRUSTS ORDINANCE - SECT 3

Jurisdiction of courts to vary trusts

(Past version on 30/06/1997).

Amendments retroactively made-see 25 of 1998 s. 2

(1) Where property is held on trusts arising, whether before or after the
commencement of this Ordinance, under any will, settlement or other
disposition, the court may if it thinks fit by order approve on behalf of-

   (a)  any person having, directly or indirectly, an interest, whether vested
        or contingent, under the trusts who by reason of infancy or other
        incapacity is incapable of assenting; or

   (b)  any person (whether ascertained or not) who may be or may become
        entitled, directly or indirectly, to an interest under the trusts as
        being at a future date or on the happening of a future event a person
        of any specified description or a member of any specified class of
        persons, so however that this paragraph shall not include any person
        who would be of that description, or member of that class, as the case
        may be, if the said date had fallen or the said event had happened at
        the date of the application to the court; or

   (c)  any person unborn; or

   (d)  any person in respect of any discretionary interest of his under
        protective trusts where the interest of the principal beneficiary has
        not failed or determined, any arrangement (by whomsoever proposed, and
        whether or not there is any other person beneficially interested who
        is capable of assenting thereto) varying or revoking all or any of the
        trusts, or enlarging the powers of the trustees of managing or
        administering any of the property subject to the trusts: Provided that
        except by virtue of paragraph (d) the court shall not approve an
        arrangement on behalf of any person unless the carrying out thereof
        would be for the benefit of that person.

(2) Subject to the provisions of section 37(1)(b) of the District 
Court Ordinance ( Cap 336), the jurisdiction conferred by subsection (1) of
this section shall be exercisable by the Court of First Instance. (Amended 25
of 1998 s. 2)

(3) Nothing in this section shall apply to trusts affecting property settled
by Ordinance.

(4) Nothing in this section shall be taken to limit the powers conferred by
section 12(2) of the High Court Ordinance ( Cap 4) or by section 56 of the
Trustee Ordinance ( Cap 29). (Amended 92 of 1975 s.58; 25 of 1998 s. 2) [cf.
1958 c. 53 s. 1 U.K.]