Variation Of Trusts Ordinance

Published: 1997-06-30

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Chapter: 253 VARIATION OF TRUSTS ORDINANCE Gazette Number Version Date

Long title 30/06/1997

To extend the jurisdiction of courts of law to vary trusts in the interests of the beneficiaries and to sanction dealings
with trust property.

[4 December 1964]

(Originally 34 of 1964)

Section: 1 Short title 30/06/1997

This Ordinance may be cited as the Variation of Trusts Ordinance.

Section: 2 Interpretation 30/06/1997

In this Ordinance, unless the context otherwise requires-
"discretionary interest" (酌情權益) means an interest arising under the trust specified in section 35(1)(b) of the

Trustee Ordinance (Cap 29) or any like trust;
"principal beneficiary" (主要受益人) has the same meaning as in section 35 of the Trustee Ordinance (Cap 29);
"protective trusts" (保護信託) means the trusts specified in section 35 of the Trustee Ordinance (Cap 29) or any like

[cf. 1958 c. 53 s. 1(2) U.K.]

Section: 3 Jurisdiction of courts to vary trusts 25 of 1998 01/07/1997

Adaptation amendments retroactively made-see 25 of 1998 s. 2

(1) Where property is held on trusts arising, whether before or after the commencement of this Ordinance,
under any will, settlement or other disposition, the court may if it thinks fit by order approve on behalf of-

(a) any person having, directly or indirectly, an interest, whether vested or contingent, under the trusts
who by reason of infancy or other incapacity is incapable of assenting; or

(b) any person (whether ascertained or not) who may be or may become entitled, directly or indirectly, to
an interest under the trusts as being at a future date or on the happening of a future event a person of
any specified description or a member of any specified class of persons, so however that this paragraph
shall not include any person who would be of that description, or member of that class, as the case may
be, if the said date had fallen or the said event had happened at the date of the application to the court;

(c) any person unborn; or
(d) any person in respect of any discretionary interest of his under protective trusts where the interest of

the principal beneficiary has not failed or determined,
any arrangement (by whomsoever proposed, and whether or not there is any other person beneficially interested who
is capable of assenting thereto) varying or revoking all or any of the trusts, or enlarging the powers of the trustees of
managing or administering any of the property subject to the trusts:

Provided that except by virtue of paragraph (d) the court shall not approve an arrangement on behalf of any
person unless the carrying out thereof would be for the benefit of that person.

(2) Subject to the provisions of section 37(1)(b) of the District Court Ordinance (Cap 336), the jurisdiction
conferred by subsection (1) of this section shall be exercisable by the Court of First Instance. (Amended 25 of 1998 s.

(3) Nothing in this section shall apply to trusts affecting property settled by Ordinance.
(4) Nothing in this section shall be taken to limit the powers conferred by section 12(2) of the High Court

Ordinance (Cap 4) or by section 56 of the Trustee Ordinance (Cap 29). (Amended 92 of 1975 s. 58; 25 of 1998 s. 2)


[cf. 1958 c. 53 s. 1 U.K.]