Trustee Act, 1929 🇰🇪

Kenya

Preamble

Part I – – PRELIMINARY

1. Short title

2. Interpretation

3. Application of Act

Part II – INVESTMENTS

4. Authorized investments

5. Discretion of trustees

6. Power to retain investment which has ceased to be authorized

7. Enlargement of powers of investment

8. Investment in bearer securities

+4 more sections

Part III – GENERAL POWERS OF TRUSTEES AND PERSONAL REPRESENTATIVES

13. Power of trustees for sale to sell by auction, etc.

14. Power to sell subject to depreciatory conditions

15. Power of trustees to give receipts

16. Power to compound liabilities

17. Power to raise money by sale, mortgage, etc.

+18 more sections

Part IV – APPOINTMENT AND DISCHARGE OF TRUSTEES

36. Limitation of the number of trustees

37. Power of appointing new or additional trustees

38. Supplemental provisions as to appointment of trustees

39. Evidence as to a vacancy in a trust

40. Retirement of trustee without a new appointment

+1 more sections

Part V – POWERS OF NEW TRUSTEES

42. Power of court to appoint new trustees

43. Power to authorize remuneration

44. Powers of new trustee appointed by the court

45. Vesting orders of land

46. Orders as to contingent rights of unborn persons

+17 more sections

Part VI – GENERAL

64. Indemnity for acts done pursuant to Act

65. Rules of court

66. Act binding on Government

SCHEDULE

1. Interpretation

2. Restriction on investment in one company

3. Division of trust fund

4. Accrual to part of trust fund

5. Discretion where property taken out of trust fund

+2 more sections

REPUBLIC OF KENYA

Trustee Act, 1929

Act 28 of 1929

Commenced on 16 November 1929
[This is the version of this document from 16 November 1929.]

An Act of Parliament relating to trustees

Part I – – PRELIMINARY

1. Short title

This Act may be cited as the Trustee Act.

2. Interpretation

In this Act, except where the context otherwise requires—“authorized investments” means investments authorized by the instrument, if any, creating the trust for the investment of money subject to the trust, or by law;“bank” means a bank licensed as such under the Banking Act (Cap. 488);“building society” means a society registered under the Building Societies Act (Cap. 489) and declared by the Minister, by notice in the Gazette, to be a building society for the purposes of this Act;“contingent right” as applied to land includes a contingent or executory interest, a possibility coupled with an interest, whether the object of the gift or limitation of the interest or possibility is or is not ascertained, also a right o…

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Trustee Act, 1929 🇰🇪

Table of Contents

REPUBLIC OF KENYA

Trustee Act, 1929

Act 28 of 1929

Part I – – PRELIMINARY

1. Short title

2. Interpretation

Read the Full Legislation on judy.legal