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TRUSTEE ACT (NORTHERN IRELAND) 1958 - SECT 63

63.(1) Trustees, or the majority of trustees, having in their hands or under
their control money or securities belonging to a trust, may pay the same into
court; and the same shall, subject to rules of court or county court rules, be
dealt with according to the orders of the court.

(2) The receipt or certificate of the proper officer shall be a sufficient
discharge to trustees for the money or securities so paid into court.

(3) Where money or securities are vested in any persons as trustees, and the
majority are desirous of paying the same into court, but the concurrence of
the other or others cannot be obtained, the court may order the payment into
court to be made by the majority without the concurrence of the other or
others.

(4) Where any such money or securities are deposited with any banker, broker,
or other depositary, the court may order payment or delivery of the money or
securities to the majority of the trustees for the purpose of payment into
court.

(5) Every transfer payment and delivery made in pursuance of any such order
shall be valid and take effect as if the same had been made on the authority
or by the act of all the persons entitled to the money and securities so
transferred, paid, or delivered.

Application of Act to Settled Land Act Trustees.

© 1958 Crown Copyright

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