Article 12 Filing, examination and inspection of accounts

This rule shall apply where the judicial trustee is not a corporate trustee.

Unless the Court otherwise directs a judicial trustee must submit his accounts to the Court.

The accounts shall be examined by the Court unless it considers that the accounts are likely to involve questions of difficulty and refers them to a qualified accountant for report, in which case the Court may order payment to him out of the trust of such reasonable amount in respect of his report as it thinks fit.

Following examination by or on behalf of the Court, the result of such examination must be certified by a master and an order may thereupon be made as to the incidence of any costs or expenses incurred.

The judicial trustee shall send a copy of the accounts, or if the Court thinks fit, a summary of the accounts, of the trust to such beneficiaries or other persons as the Court may direct.

If an application is made by any person to inspect the filed accounts, the Court may, if it thinks fit, having regard to the nature of the relation of the applicant to the trust, allow them to be inspected on giving reasonable notice.

Any person who is served with a copy of the accounts, or a summary of the accounts under paragraph (5), or, after inspection of the accounts under paragraph (6), remains dissatisfied with them, may apply to the Court for directions.