SETTLED LAND ACT 1958 - SECT 94 Number of trustees to act
SETTLED LAND ACT 1958 - SECT 94
Number of trustees to actS. 94(1) amended by Nos 55/1987 s. 57(3)(Sch. 5 item 49), 45/1994 s. 42(Sch. item 8.4).
(1) Notwithstanding anything in this Act, capital money arising under this Act shall not be paid to fewer than two persons as trustees of a settlement, unless the trustee is a trustee company or unless the settlement authorizes the receipt of such money by one such trustee.
(2) Subject as aforesaid and to section twenty the provisions of this Act referring to the trustees of a settlement shall apply to the surviving or continuing trustees or trustee of the settlement for the time being.
Nos 3771 s. 95, 5286 s. 10(1)(b).
S. 95 amended by Nos 55/1987 s. 57(3)(Sch. 5 item 50), 45/1994 s. 42(Sch. item 8.5).