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- Original (As enacted)
This is the original version (as it was originally enacted).
(1)Where a trust corporation is appointed an executor in a will, either alone or jointly with another person, the court may grant probate to such corporation either solely or jointly with another person, as the case may require, and the corporation may act as executor accordingly.
(2)Administration may be granted to any trust corporation either solely or jointly with another person, and the corporation may act as administrator accordingly.
(3)Representation shall not be granted to a syndic or nominee on behalf of any trust corporation.
(4)Any officer authorised for the purpose by such corporation or the directors or governing body thereof may swear affidavits, give security, and do any other act or thing which the court may require on behalf of the trust corporation with a view to the grant of representation to the corporation, and the acts of such officer shall be binding on the corporation, and he shall be entitled to be kept indemnified by the corporation in regard to matters so authorised as aforesaid.
(5)Where, at the commencement of this Act, any interest in real or personal estate is vested in a syndic on behalf of any trust corporation acting as the personal representatives of a deceased person, the same shall, by virtue of this Act, vest in the corporation, and the syndic shall be kept indemnified by the corporation in regard to any interest so vested. This subsection does not apply to securities registered or inscribed in the name of a syndic, or to land or a charge registered under the Land Registration Act, 1925, in the name of a syndic, but any such securities, land or charge shall be transferred by the syndic to the corporation or as the corporation may direct.
(6)This section has effect whether the testator or intestate died before or after the commencement of this Act; and no such vesting or transfer as aforesaid shall operate as a breach of a covenant or condition against alienation or give rise to a forfeiture.
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