Hong Kong Ordinances

TRUSTEE ORDINANCE - SECT 56

Power of court to authorize dealing with trust property

Jurisdiction to make other Order

(1) Where in the management or administration of any property vested in
trustees, any sale, lease, mortgage, surrender, release, or other disposition,
or any purchase, investment, acquisition, expenditure, or other transaction,
is in the opinion of the court expedient, but the same cannot be effected by
reason of the absence of any power for that purpose vested in the trustees by
the trust instrument, if any, or by law, the court may by order confer upon
the trustees, either generally or in any particular instance, the necessary
power for the purpose, on such terms, and subject to such provisions and
conditions, if any, as the court may think fit and may direct in what manner
any money authorized to be expended, and the costs of any transaction, are to
be paid or borne as between capital and income.

(2) The court may, from time to time, rescind or vary any order under this
section, or may make any new or further order.

(3) An application to the court under this section may be made by the
trustees, or by any of them, or by any person beneficially interested under
the trust. [cf. 1925 c.19 s.57 U.K.]