section 8
Powers of Official Trustee to hold and manage trust properties
The Sir Currimbhoy Ebrahim Baronetcy (Repeal and Distribution of Trust Properties) Act, 1959Civil195914 sections
Statutory text
- (1) Subject to the provisions of this Act, the Official Trustee shall, so long as he holds the trust properties or any part thereof for the purposes of this Act, be entitled for the proper management of the said properties and their distribution according to law, to do all such things (including the making of any application for directions of the Court, and the prosecuting or defending of all suits and proceedings which have been instituted by or against the Corporation before the commencement of this Act, and which at such commencement be pending, for the purpose of the prosecuting or defending whereof he shall be deemed to be substituted for the Corporation as a party thereto) which any trustee under a deed or instrument is entitled in the course of the administration of a trust to do : Provided that, the Official Trustee shall not sell or exchange any of the premises particularly described in the Schedule to this Act or any other hereditaments for the time being vested in him by force and virtue of this Act or any of them, without the previous sanction of the High Court.
- (2) Out of the income of the trust properties, the Official Trustee shall so long as he holds the trust properties pay all rates, taxes, assessment, dues and duties in respect of the hereditaments and premises particularly described in the Schedule to this Act or in respect of any additional hereditaments and premises, and all buildings and erections standing thereon and defray all costs of ordinary and extraordinary structural repairs required for the purpose of maintaining such buildings in a habitable condition, and of insuring the same against fire and all other outgoings of every nature whatsoever.
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