Protection in regard to notice.
Power to appoint person to convey.
(1) On the appointment of a trustee for the whole or any part of trust property the number of trustees may, subject to the restrictions imposed by this Act on the number of trustees, be increased; a separate set of trustees, not exceeding four, may.This section applies to policies effected either before or after the commencement of this Act, but only to money received after such commencement.Vesting orders of land.After notice in writing of an order under 8470w sd slot this section it shall not be lawful for any corporation, association or company to transfer any stock to which the order relates or to pay any dividends on the stock except in accordance with the order.Where a power or trust is given to or imposed on two or more trustees jointly, the same las leñas casino may be exercised or performed by the survivors or survivor of them for the time being.Where any person entitled to or possessed of any interest in land, or entitled to a contingent right in land, by way of security for money, is an infant, the court may make an order vesting or releasing or disposing of the interest in the.Please sign up at your nearst branch.
Vesting of trust property in new or continuing trustees.
Where money or securities are vested in any persons as trustees, and the majority are desirous of paying the money or securities into court, but the concurrence of the other or others cannot be obtained, the court may order the payment into court.
(3) An express vesting declaration, whether made before or after the commencement of this Act, shall, notwithstanding that the estate, interest or right to be vested is not expressly referred to, and provided that the other statutory requirements were or are complied with, operate and.An order under this Act for the appointment of a new trustee or concerning any interest in land, stock, or thing in action subject to a trust, may be made on the application of any person beneficially interested in the land, stock or thing.In favour of such purchaser ny casino 2015 any appointment of a new trustee depending on that statement, and any vesting declaration, express or implied, consequent on the appointment, shall be valid.Where a vesting order is made as to any land under this Act founded on an allegation of any of the following matters, namely the personal incapacity of a trustee or mortgagee; that a trustee or mortgagee or the personal representative of or other person.Tel : / / Toll Free Number E-mail : Finance Trust Bank Uganda Limited is regulated.(2) A trustee lending money on the security of any leasehold property shall not be chargeable with breach of trust only upon the ground that in making the loan the trustee dispensed either wholly or partly with the production or investigation of the lessors title.Exoneration of trustees in respect of certain powers of attorney.The powers conferred by this section shall be exercisable subject to the consent of any person whose consent to a change of investment is required by law or by the instrument, if any, creating the trust.
Trustees, or the majority of trustees, having in their hands or under their control money or securities belonging to a trust, may pay the same into court; and the same shall, subject to rules of court, be dealt with according to the orders of the.