Hong Kong Ordinances

TRUSTEE ORDINANCE - SECT 38

Supplemental provisions as to appointment of trustees

(1) On the appointment of a trustee for the whole or any part of trust
property-

   (a)  the number of trustees may, subject to the restrictions imposed by
        this Ordinance on the number of trustees, be increased; and

   (b)  a separate set of trustees, not exceeding 4 may be appointed for any
        part of the trust property held on trusts distinct from those relating
        to any other part or parts of the trust property, notwithstanding that
        no new trustees or trustee are or is to be appointed for other parts
        of the trust property, and any existing trustee may be appointed or
        remain one of such separate set of trustees, or, if only one trustee
        was originally appointed, then, save as hereinafter provided, one
        separate trustee may be appointed; and

   (c)  it shall not be obligatory, save as hereinafter provided, to appoint
        more than one new trustee where only one trustee was originally
        appointed, or to fill up the original number of trustees where more
        than 2 trustees were originally appointed, but, except where only one
        trustee was originally appointed, and a sole trustee when appointed
        will be able to give valid receipts for all capital money, a trustee
        shall not be discharged from his trust unless there will be either a
        trust corporation or at least 2 individuals to act as trustees to
        perform the trust; and

   (d)  any assurance or thing requisite for vesting the trust property, or
        any part thereof, in a sole trustee, or jointly in the persons who are
        the trustees, shall be executed or done.

(2) Nothing in this Ordinance shall authorize the appointment of a sole
trustee, not being a trust corporation, where the trustee, when appointed
would be under the age of 21 years or, would not be able to give valid
receipts for all capital money arising under the trust. (Amended 32 of 1990 s.
10) [cf. 1925 c.19 s.37 U.K.]