International Trusts Order, 2000 · As enacted
60. Power to authorise dealings with trust property
Official textFrom Attorney General's Chambers, unchanged
Where in the management or administration of any property vested in trustees any sale, lease, mortgage, surrender, release or other disposition, or any purchase, investment, acquisition, expenditure or other transaction is in the opinion of the Court expedient but the same cannot be effected by reason of the absence of any power for that purpose vested in the trustees by the trust instrument or by law, the Court may by order confer upon the trustees, either generally or in any particular instance, the necessary power for the purpose on such terms and subject to such provisions and conditions, if any, as the Court may think fit and may direct in what manner any money authorised to be expended and the costs of any transaction are to be paid or borne as between capital and income.
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
The Court may, from time to time, rescind or vary any order made under this section or may make any new or further order.
An application to the Court under this section may be made by the trustees or by any of them or by any person beneficially interested under the trust or (in the case of an authorised purpose trust) by any such person as is described in section 73(2).
trust
"trust" means an international trust except where the context otherwise requires;
Power to give judgment in absence of a trustee.
Terms defined in s 2
authorised purpose trust
Defined · s 2"authorised purpose trust" has the meaning assigned by section 69(3);
mortgage
Defined · s 2"mortgage" includes every kind of security for money charged on any kind of property and includes an agreement to mortgage; and
person
Defined · s 2"person" includes a natural person, any company or.association or body of persons, corporate or incorporated, including a partnership whether limited, unlimited or an international limited partnership created under the International Partnerships Order, 2000;
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;
trust instrument
Defined · s 2"trust instrument" means the written testamentary or other instrument if any by which, or on the terms of which, the trust is created (including any subsequent instruments affecting the terms or administration of the trust) or where the trust was not created by, or on the terms of, any written instrument refers to any trust instrument evidencing an oral declaration creating the trust. Application and restrictions.
Part VIII
Authorised Purpose Trusts
Part IX
Part X
Additional Provisions
Part XI