Section 75 Superintendence order as to investment and distribution of trust propertyI1

Scotland Not yet in force

(1)

The court may, on the application of one or more of the trustees, order the accountant of court to superintend the trustees’ administration of the trust insofar as that administration relates to—

(a)

the investment of trust property, and

(b)

the distribution of trust property among creditors and beneficiaries.

(2)

If the order (to be known as a “superintendence order”) is granted, the accountant of court—

(a)

must, annually, examine and audit the trustees’ accounts, and

(b)

may report to the court, and obtain the court’s directions, on any question which may arise with regard to the administration superintended.

(3)

This section applies irrespective of when the trust was created.

Annotations

Commencement

I1: S. 75 not in force at Royal Assent, see s. 88(3)