Judicature (Trust Corporations) Act

Link to law: http://www.moj.gov.jm/laws/judicature-trust-corporations-act
Published: 1948-07-29

JUDICATURE (TRUST CORPORATIONS) 1

THE JUDICATURE (TRUST CORPORATIONS) Cap. 182.
ACT

[29rh July, 1948.1

1. This Act may be cited as the Judicature (Trust Sborrtitlc.
Corporations) Act.

2. In this Act- Intcrpreta-
“corporation” means any body corporate incorporated by iion.

Royal Charter, or by or under any instrument having
the force of law in Jamaica or in any other Common-
wealth country.

3. The Minister on the application of any corporation constitu-
carrying on business in Jamaica, if he is satisfied that t,-,,UStEOr.
under the instrument whereby such corporation is in- norationS.
corporated or any instrument whereby the powers of such
corporation are defined such corporation is authorized to
act as an executor of the wiU of any deceased person or
as administrator of the estate of any deceased person or as
a trustee of any settlement whether constituted by any
testamentary instrument or otherwise, may in his absolute
discretion by order declare such corporation to be a trust
corporation for the purposes of this Act.

tion of

4.--(1) The Supreme Court may- Probate and
letters Of

(a) where a trust corporation is named in any testa- ~~~~~-
mentary instrument as the executor of any de-
ceased person, whether alone or jointly with any wrations.
other person, grant probate to such corporation
either solely or jointly with some other person, as
the case may require; and

me inclusion of this page is authorized by L.N. 480119731

2 JUDICATURE (TRUST CORPORATIONS)

(b) on the application of any trust corporation, grant
to such corporation, either solely or jointly with
any other person, letters of administration to the
estate of any deceased person.

(2) Where probate or letters of administration are
granted to any trust corporation under the provisims of
subsection (1) either solely or jointly with any other person,
such corporation may act as executor or administrator, as
the case may be, as if such trust corporation were an
individual.

5. Any officer of any trust corporation, if authorized
so to do by such corporation or the directors or govern-
ing body of such corporation, may on behalf of the cor-
poration, swear affidavits, give security and do any other
act or thing required by the Court to be done with a view
to the grant to the corporation of probate or administration
and any act so done by any officer of such corporation
shall for all purposes be deemed to be the act of the cor-
poration.

oAicer3 of
trust cor-
voralions.
io act on
behalf of
such
corpora-
tions.

Probate
and ad-
ministration
not to be
granled to
syndics on
behalf of

porarions.
Vesling of
inkrest in
t lUbt cor-
porations.

t N S 1 COI-

6. After the commencement of this Act probate or
administration shall not be granted to any syndic or nomi-
nee on behalf of a trust corporation.

7.-(1) Where any interest in any estate is vested in a
syndic on behalf of any corporation acting as the personal
representative of a deceased person and such corporation
becomes a trust corporation, such interest shall, except as
otherwise provided in subsection (2), be deemed to vest in
such corporation on the day on which it becomes a trust
Corporation.

(2) Subsection (1) shall not appIy to any securities
registered in the name of a syndic or to any land or to any
-

[The inclusion of this page is authorized by L.N. 480/1973]

JUDICATURE (TRUST CORPORATIONS)

encumbrances upon land registered under the Registration
of Titles Act in the name of a syndic.

(3) Where any securities are registered in the name
of, or any land or encumbrances thereon are registered
under the Registration of Titles Act in the name of, a
syndic on behalf of a corporation acting as the personal
representative of a deceased person and such corporation
becomes a trust corporation, such syndic shall forthwith do
all such acts as may be necessary to transfer such securities,
land or encumbrances thereon, as the case may be, to such
trust corporation or to such person as such trust corpora-
tion may direct.

(4) Where by virtue of the provisions of subsection
(1) any interest in any estate is deemed to vest in anv trust
corporation, or pursuant to the provisions of subsection (3)
any securities, land or encumbrances upon land are trans-
ferred to any trust corporation, such trust corporation
shall indemnify the syndic in whom such interest, securities,
land or encumbrances upon land, as the case may be, were
vested immediately before they were deemed to vest or
were transferred by the syndic to such trust corporation.

3

8. For the avoidance of doubt it is hereby declared- Application
of Act.

(a) that the provisions of this Act shall apply to the
estate of deceased persons who died before the
commencement of this Act as it appIies to the
estates of such persons who died after the com-
mencement of this Act; and

(6) that the vesting or the transfer of any interest in
any estate or of any securities, land or encum-
brances upon land pursuant to the provisions of
this Act shall not be deemed to constitute a
breach of any covenant or of any condition
against alienation or to give rise to any forfeiture.

Dhhe inclusion of this page is authorized by LN. 480/19731
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