may be 8.-(1.) In any action or other proceeding against a trustee or Statute of any person claiming through him, except where the claim is founded limitations upon any fraud or fraudulent breach of trust to which the trustee pleaded by was party or privy, or is to recover trust property, or the proceeds trustees. thereof still retained by the trustee, or previously received by the trustee and converted to his use, the following provisions shall apply : (a.) All rights and privileges conferred by any statute of limitations shall be enjoyed in the like manner and to the like extent as they would have been enjoyed in such action or other proceeding if the trustee or person claiming through him had not been a trustee or person claiming through him : (b.) If the action or other proceeding is brought to recover money or other property, and is one to which no existing statute of limitations applies, the trustee or person claiming through him shall be entitled to the benefit of and be at liberty to plead the lapse of time as a bar to such action or other proceeding in the like manner and to the like extent as if the claim had been against him in an action of debt for money had and received, but so nevertheless that the statute shall run against a married woman entitled in possession for her separate use, whether with or without a restraint upon anticipation, but shall not begin to run against any beneficiary unless and until the interest of such beneficiary shall be an interest in possession. (2.) No beneficiary, as against whom there would be a good defence by virtue of this section, shall derive any greater or other benefit from a judgment or order obtained by another beneficiary than he could have obtained if he had brought such action or other proceeding and this section had been pleaded. (3.) This section shall apply only to actions or other proceedings commenced after the first day of January one thousand eight hundred and ninety, and shall not deprive any executor or administrator of any right or defence to which he is entitled under any existing statute of limitations. leaseholds 9. A power to invest trust money in real securities shall autho- Investments on rise and shall be deemed to have always authorised an investment mortgage of long terms. upon mortgage of property held for an unexpired term of not less than two hundred years and not subject to any reservation of rent greater than one shilling a year, or to any right of redemption, or to any condition for re-entry except for nonpayment of rent. 10. It shall be lawful for any trustee of any leaseholds for lives Trustees of or years which are renewable from time to time, either under any renewable covenant or contract or by custom or usual practice, if he shall in his discretion think fit, and it shall be the duty of such trustee, if thereunto required by any person having any beneficial interest, present or future or contingent, in such leaseholds, to use his best endeavours to obtain from time to time a renewed lease of the same hereditaments on the accustomed and reasonable terms, and for that purpose it shall be lawful for any such trustee from time to time to make or concur in making such surrender of the lease for the time being subsisting, and to do all such other acts as shall be may renew. Power to trustee to raise money to meet of lease. requisite in that behalf; but this section is not to apply to any case where by the terms of the settlement or will the person in possession for his life or other limited interest is entitled to enjoy the same without any obligation to renew the lease or to contribute to the expense of renewing the same, unless the consent in writing of such person is obtained to such renewal on the part of the trustee. 11. In case any money shall be required for the purpose of paying for the renewal of any lease as aforesaid, it shall be lawful fines on renewal for the trustee effecting such renewal to pay the same out of any money which may then be in his hands in trust for the persons beneficially interested in the lands to be comprised in the renewed lease, and if he shall not have in his hands as aforesaid sufficient money for the purpose, it shall be lawful for the trustee to raise the money required by mortgage of the hereditaments to be contained in the renewed lease, or of any other hereditaments for the time being subject to the subsisting uses or trusts to which the hereditaments comprised in the renewed lease shall be subject; and no mortgagee advancing money upon such mortgage, purporting to be made under this power, shall be bound to see that such money is wanted, or that no more is raised than is wanted for the purpose aforesaid. Application of Act. 12.-(1.) This Act shall apply as well to trusts created by instrument executed before as to trusts created after the passing of this Act. (2.) Provided always, that save as in this Act expressly provided, nothing therein contained shall authorise any trustee to do anything which he is in express terms forbidden to do, or to omit to do anything which he is in express terms directed to do, by the instrument or instruments creating the trust. CHAPTER 60. An Act for assigning to Scotland and Ireland respectively certain shares of the Probate Duties; and for providing for the application of such shares. W [24th December 1888.] HEREAS it has been determined by Parliament to grant in relief of local taxation the following portions of the proceeds of the sums collected in respect of the probate duties; namely, (a.) During the financial year ending the thirty-first of March one thousand eight hundred and eighty-nine, one-third of the said proceeds; and (b.) During every subsequent financial year, one half of the said proceeds, (which portions of the said proceeds are in this Act referred to as the probate duty grant): And whereas four-fifth parts of the probate duty grant are by 51 & 52 Vict. the Local Government Act, 1888, directed to be ascertained in c. 41. Act, 1888. manner provided by regulations prescribed by the Treasury, and to be paid into the Bank of England to the Local Taxation account, and distributed among certain local authorities in relief of local taxation in England: And whereas it is expedient to provide for the assignment to Scotland and Ireland of their respective shares of the remaining one-fifth part of the probate duty grant, and for the application of such shares in relief of local taxation in Scotland and Ireland respectively: Be it therefore enacted by the Queen's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows: 1. The Commissioners of Inland Revenue shall from time to Assignment time, in such manner and under such regulations as the Treasury of share of from time to time make, pay in every financial year probate duty grant to Scot (a) to such account as is fixed by the regulations (in this Act land and Irereferred to as the Local Taxation (Scotland) Account) such land. sum as may be ascertained in manner provided by the said regulations, to be eleven hundredth parts of the probate duty grant; and (b) to such account as is fixed by the regulations (in this Act referred to as the Local Taxation (Ireland) Account), such sum as may be ascertained in manner provided by the said regulations, to be nine hundredth parts of the probate duty grant. 2. (1.) All sums paid in respect of the probate duty grant to Distribution the Local Taxation (Scotland) Account shall be distributed by the in Scotland Secretary for Scotland among the local authorities for Scotland as follows; that is to say: (A.) In the financial year ending the thirty-first day of March (i.) in paying a sum of thirty thousand pounds for the (iii) the balance shall be distributed among the parochial of share of probate duty grant. Distribution in Ireland of share of probate duty grant. Act, 1888. of management other than collection, and on pauper lunatics, and on boarded-out children, and on blind and deaf mute children, in such proportion and manner as the Secretary for Scotland may direct; and (B.) After the thirty-first day of March next after the passing of this Act, the same shall be distributed in manner to be hereafter provided by Parliament. (2.) All sums so paid to parochial boards shall be applied in aid of the expenses incurred for the relief of the poor, and all sums so paid to any road authority shall be applied in aid of the expenses incurred for the cost of the repair and maintenance of roads. 3.—(1.) All sums paid in respect of the probate duty grant to the Local Taxation (Ireland) Account, shall, until otherwise provided by Parliament, be annually distributed by the Lord Lieutenant of Ireland as follows, that is to say : (a.) five thousand pounds shall be paid to the Royal Dublin Society for the improvement of the breed of horses and cattle; and (b.) of the balance one half shall be distributed among the guardians of the unions in Ireland in proportion to the sums which the Local Government Board for Ireland certify to have been expended by the guardians of each union during the financial year ending the twenty-ninth day of September one thousand eight hundred and eighty-seven on the salaries, remuneration, and superannuation allowances of the officers of the union in connexion with the relief of the poor, or under the provisions of the Act of the session of the fourteenth and fifteenth years of the reign of Her present Majesty, chapter sixty-five; (c.) the remaining half of the balance shall be distributed among the road authorities in Ireland in proportion to the sums which the Local Government Board for Ireland certify to have been expended out of any cess or rate by each road authority on roads and bridges during the year ending the thirty-first day of December one thousand eight hundred and eighty-seven. (2.) All sums so paid to the guardians of a union shall be applied in aid of the poor rate, and all sums so paid to a road authority shall be applied in aid of the expenses incurred for the costs of the repair and maintenance of roads and bridges. (3.) The expression "road authority means any grand jury having for the time being jurisdiction with respect to roads and bridges, and any such municipal corporation or town or other commissioners as have for the time being the like jurisdiction, whether by virtue of being the urban sanitary authority within the meaning of the Public Health (Ireland) Act, 1878, or otherwise. Provided that where after the passing of this Act jurisdiction respecting roads and bridges shall be transferred from any grand jury or grand juries to any urban sanitary authority under the Act, 1888. Public Health (Ireland) Act, 1878, the distribution as between such grand jury or grand juries and such sanitary authority under this section shall thenceforth be made in the shares in which the Local Government Board for Ireland shall certify that the sum expended by such grand jury or grand juries as aforesaid during the year ending the thirty-first day of December one thousand eight hundred and eighty-seven, should be apportioned between such grand jury or grand juries and such sanitary authority for the purpose of the said distribution. sums. 4.-(1.) The sums paid or distributed under this Act in Scotland Regulations as and Ireland shall be paid and distributed in such manner and in to payment of accordance with such regulations as the Secretary for Scotland or the Lord Lieutenant for Ireland, as the case may be, from time to time make. (2.) Where any proportion or amount is to be certified, or where any question arises as to what costs, salaries, remuneration, allowances, or officers are to be included in ascertaining such proportion or amount, the proportion or amount shall be ascertained and the question determined in such manner as is for the time being directed by the regulations made under this section. (3.) Where the Secretary for Scotland or the Board of Supervision or the Local Government Board for Ireland give a certificate for the purposes of this Act or the regulations made thereunder, he or they may, if it seem proper, vary such certificate; but unless it is so varied, the certificate shall be conclusive. (4.) Every authority to whom a sum is payable under this Act shall submit their claim to the payment in such manner to such person or board, and produce such evidence, and comply with such rules as is for the time being required by regulations under this section. 5. For the purposes of this Act- The expression "the Treasury" means the Commissioners of Her The expression "Lord Lieutenant of Ireland" includes the chief The expression "highlands and islands of Scotland" means the counties of Argyll, Inverness, Ross and Cromarty, Sutherland, Caithness, Orkney, and Shetland. Definitions. |