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Report No. 17

Section 56.- In section 56 of the principal Act, the last paragraph shall be omitted.

Section 58.- In section 58 of the principal Act, the proviso shall be omitted.

Section 59.- For section 59 of the principal Act, the following section shall be substituted, namely:-

"59. Right to apply for executiori of trust.-Where, after a trust has been validly createc1.1-

(a) all the trustees die,. disclaim or are discharged; or

(b) for any other reason the execution of the trust by the trustee is or becomes impracticable,

the beneficiary or any other person interested in the trust may make a petition to the district court for the execution of the trust, and the trust shall, so far as may be possible, be executed by the Court until the appointment of a trustee or new trustee."

1. As death, disclaimer and discharge are the only situations in which a vacancy arises, the words "no trustees are appointed" have been omitted consequential on the proposal to confine the section to subsequent vacancies.



Trusts Act, 1882 Back




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