ADMINISTRATION OF TRUST FUNDS RULES
- CHAPTER 29A

ADMINISTRATION OF TRUST FUNDS RULES - LONG TITLE  
Empowering section VerDate:30/06/1997



(Cap 29, section 76) 

[27 July 1934]


(18 of 1934 First Schedule)



ADMINISTRATION OF TRUST FUNDS RULES - RULE 1
Citation VerDate:30/06/1997



These rules may be cited as the Administration of Trust Funds Rules.



ADMINISTRATION OF TRUST FUNDS RULES - RULE 2
Affidavit to be filed by trustee desiring to pay money to account of, or to deposit shares, etc., in name of, Official Trustee VerDate:30/06/1997



Any trustee desiring to pay money to the account of, or to transfer or 
deposit shares, stock, or securities into or in the name of, the Official 
Trustee under the provisions of the Ordinance (Cap 29) relating to the 
administration of trust funds, shall file an affidavit setting forth-

        (a)	his own name and address;

        (b)	the place where he is to be served with any petition or any 
notice of any proceeding or order of the court, or of the judge in 
chambers, relating to the trust fund;

        (c)	the amount of money, shares, stock, or securities, which he 
proposes to pay or transfer into or deposit in court, to the credit of the 
trust;

        (d)	a short description of the trust and of the instrument creating 
it;

        (e)	the name of the persons interested in or entitled to the fund, 
to the best of the knowledge and belief of the trustee; and

        (f)	the submission of the trustee to answer all such inquiries 
relating to the application of the money, shares, stock, or securities 
paid in, transferred, or deposited under the Ordinance as the court or a 
judge in chambers may think proper to make or direct.



ADMINISTRATION OF TRUST FUNDS RULES - RULE 3
Directions for payment of money, etc. VerDate:30/06/1997



The Official Trustee, on production of an office copy of the affidavit, 
shall give the necessary directions for payment, transfer, or deposit, and 
place the money, shares, stock, or securities, to the account of the 
particular trust; and shall grant a certificate of such payment, transfer, 
or deposit.



ADMINISTRATION OF TRUST FUNDS RULES - RULE 4
Investment of moneys VerDate:30/06/1997



Where it is deemed unnecessary to have the money, or the dividends or 
interest of the shares, stock, or securities, invested in the meantime, 
the affidavit shall further contain a statement to that effect. But where 
the affidavit contains no such statement, the Official Trustee shall be at 
liberty to invest, as soon as conveniently may be, the money paid in or 
the dividends or interest on the shares, stock, or securities transferred, 
and all accumulations thereof, in or upon such investments and securities 
as the court may direct or approve, and every such investment shall be 
made in the matter of the particular trust:
Provided that where at any time a request in writing, by or on behalf of 
any party claiming to be entitled, that such investment may be 
discontinued is left with the Official Trustee, he shall be at liberty to 
cease making any further investment in the matter of the particular trust 
until the court has made some order in that behalf.



ADMINISTRATION OF TRUST FUNDS RULES - RULE 5
Notice of payment, etc., to cestui que trust VerDate:30/06/1997



The trustee, having made the payment, transfer, or deposit, shall 
forthwith give notice thereof to the several persons named in his 
affidavit as interested in or entitled to the fund.



ADMINISTRATION OF TRUST FUNDS RULES - RULE 6
Applications relating to fund VerDate:30/06/1997



Such persons, or any of them, or the trustee may apply by petition, or, in 
a case where the fund does not exceed two thousand dollars in value, by 
summons, respecting the investment, payment out, or distribution of the 
fund or of the dividends or interest thereof.



ADMINISTRATION OF TRUST FUNDS RULES - RULE 7
Notice to trustee of application by cestui que trust VerDate:30/06/1997



The trustee shall be served with notice of any application made to the 
court or in chambers respecting the fund, or the dividends or interest 
thereof, by any person interested therein or entitled thereto.



ADMINISTRATION OF TRUST FUNDS RULES - RULE 8
Notice to cestui que trust of application by trustee VerDate:30/06/1997



The persons interested in or entitled to the fund shall be served with 
notice of any application made by the trustee to the court or in chambers 
respecting the fund or the dividends or interest thereof.



ADMINISTRATION OF TRUST FUNDS RULES - RULE 9
Place for service on applicant VerDate:30/06/1997



No petition shall be set down to be heard, and no summons shall be sealed, 
until the petitioner or applicant has first named in his petition or 
summons a place where he may be served with any petition or summons or 
notice of any proceeding or order of the court relating to the fund.



ADMINISTRATION OF TRUST FUNDS RULES - RULE 10
Title of petition, etc. VerDate:30/06/1997



Every petition presented, summons issued, and affidavit filed under the 
said provisions shall be intituled in the matter of the Ordinance and in 
the matter of the particular trust.