International Trusts Order, 2000 · As enacted · Part III
19. Power to compound liabilities
Official textFrom Attorney General's Chambers, unchanged
Trustees may if and as they think fit
accept any property before the time at which it is made transferable or payable; or
property
"property" includes - {a} money, goods, chases in action, land and every descriptions of property1 whether movable or immovable; and (b} obligations, easements and every description of estate, interest and profit, present or future, vested or contingent, arising out of, or incident to, any property as defined in paragraph {a}; 1141 17th. JULY, 2000
sever and apportion any blended trust funds or property; or
trust
"trust" means an international trust except where the context otherwise requires;
pay or allow any debt or claim on any evidence that they think sufficient; or
accept any composition or any security for any debt or for any property claimed; or
allow any time for payment of any debt; or
(fJ compromise, compound, abandon, submit to arbitration or otherwise settle any debt, account, claim or thing whatever relating to the trust, and for any of those purposes may enter into, give, execute and do such agreements, intruments of composition or arrangement, releases and other things as to them seem expedient, without being responsible for any loss occasioned by any act or thing so done by them in good faith.
Terms defined in s 2
property
Defined · s 2"property" includes - {a} money, goods, chases in action, land and every descriptions of property1 whether movable or immovable; and (b} obligations, easements and every description of estate, interest and profit, present or future, vested or contingent, arising out of, or incident to, any property as defined in paragraph {a}; 1141 17th. JULY, 2000
trust
Defined · s 2"trust" means an international trust except where the context otherwise requires;
Part IV
Protections and Indemnities of Trustees
Part VI
Part VII
Powers of the Court
Part VIII
Authorised Purpose Trusts
Part IX
Part X
Additional Provisions
Part XI