Trustee Ordinance

(1)
Trustees, or the majority of trustees, having in their hands or under their control any moneys belonging to any trust, shall be at liberty, on filing in the Registry of the court an affidavit shortly describing the instrument creating the trust, according to the best of their knowledge and belief, to pay the same, with the consent of the Official Trustee and in accordance with such directions as they may receive for the purpose from him, into the court; and the said trust moneys shall be paid through the Treasury into a
bank authorized by the Chief Executive on deposit bearing interest, or otherwise, to the account of the Official Trustee (by his official designation) in the matter of the particular trust (describing the same by the names of the parties, as accurately as may be, for the purpose of distinguishing it), in trust to attend the orders of the court.
(Amended
18 of 1999 s. 3
)
(2)
Any trust moneys paid into a bank pursuant to subsection (1)
which—
(a)
remain unclaimed for a period of 5 years from the last making of any order of the Court in relation thereto; or
(b)
if no such order shall have been made, remain unclaimed for a period of 5 years from the date of payment into the bank,
shall be transferred by the Official Trustee to the general revenue of Hong Kong.
(Added
71 of 1971 s. 3
. Amended
9 of 1993 s. 7
)
[cf. 1847 c. 96 s. 1 U.K.; 1893 c. 53 s. 42 U.K.]