Full legislation
s.69
Power to appoint trustees of infant’s property
Where an infant is absolutely entitled under the will or on the intestacy of a
person dying before or after the
commencement*
of this Ordinance (in this subsection called
the
deceased
)
to a devise or legacy, or to the residue of the estate of the deceased, or any share
therein, and such devise, legacy, residue or share is not under the will, if any, of
the deceased, devised or bequeathed to trustees for the infant, the personal
representatives of the deceased may appoint a trust corporation or two or more
individuals not exceeding four (whether or not including the personal
representatives or one or more of the personal representatives), to be the trustees
of such devise, legacy, residue or share for the infant, and may, subject to the
provisions of
section 54
, execute or do any assurance or thing requisite
for vesting such devise, legacy, residue or share in the trustee or trustees so
appointed; and on such appointment the personal representatives, as such, shall be
discharged from all further liability in respect of such devise, legacy, residue or
share, and the same may be retained in its existing condition or state of
investment, or may be converted into money, and such money may be invested in any
authorized investment.