15Trust may act as executor, administrator or trustee

15 Trust may act as executor, administrator or trustee

15 Trust may act as executor, administrator or trustee

(1) The Trust:

(a) may apply for and obtain, or join in applying for and obtaining, probate of the will, or letters of administration for the estate, of a deceased person if the St. Shenouda Coptic Orthodox Monastery has a beneficial interest, vested or contingent, in the estate of that person, and

(b) may accept appointment and act as trustee or co-trustee under a trust if the trust property is not already vested in the Trust by or in accordance with this Act and the trust was created wholly or partly for the benefit of the St. Shenouda Coptic Orthodox Monastery, and

(c) may do all things necessary for the exercise of its functions as executor, administrator or trustee.

(2) If authorised by the Trust to do so, a person employed by the Trust may, on behalf of the Trust:

(a) swear an affidavit, or

(b) make a declaration or statement, or

(c) give security and do any other act or thing,

that is, by any charter, enactment or rule of court, required to be done by a person who is applying for or granted probate or letters of administration, or who is administering a trust.

(3) The Trust may:

(a) renounce executorship, or

(b) decline to act as administrator of an estate, or

(c) retire, or decline to act, as trustee of property (other than property vested in it by or in accordance with Part 3).

(4) Any commission or other remuneration earned by the Trust as an executor, administrator or trustee appointed under the authority of this section belongs to the Trust and the Trust may use or apply the commission or remuneration only for an object or purpose specified or approved by the Trust.