TRUSTEES ACT 1962 - SECT 5
TRUSTEES ACT 1962 - SECT 5
5 . Application
(1) Except where
otherwise expressly provided, this Act applies to every trust, as defined in
section 6, whether constituted or created before or after the commencement of
this Act.
(1a) Except where
otherwise expressly provided, this Act as amended by the Trustees Amendment
Act 1987 applies to every trust, as defined in section 6, whether constituted
or created before or after the commencement of the Trustees Amendment Act 1987
1 .
(2) The powers
conferred by or under this Act on a trustee who is not a corporation are in
addition to the powers given by any other Act and by the instrument (if any)
creating the trust; but the powers conferred on the trustee by this Act,
unless otherwise stated, apply if and so far only as a contrary intention is
not expressed in the instrument (if any) creating the trust, and have effect
subject to the terms of that instrument.
(3) The powers
conferred by or under this Act on a trustee that is a corporation are in
addition to the powers given by the instrument (if any) creating the trust and
to the powers given by or under the Act or any instrument by or under which
the corporation is constituted and any other Act; but the powers conferred on
the trustee by this Act, unless otherwise stated —
(a)
apply if and so far only as a contrary intention is not expressed in the
instrument (if any) creating the trust and have effect subject to the terms of
that instrument; and
(b)
apply if and so far only as a contrary intention is not expressed in the Act
or any instrument by or under which the corporation is constituted or any
other Act, and have effect subject to the terms of every such Act and
instrument; but nothing in this paragraph affects any Act that applies to
every trustee, whether a corporation or not.
(4) This Act does not
affect the legality or validity of anything done before the commencement of
this Act, except as in this Act expressly provided.
(5) This Act binds the
Crown.
[Section 5 amended: No. 84 of 1987 s. 4.]