44Payment into court by trustees and mortgagees

44 Payment into court by trustees and mortgagees (1) Trustees or mortgagees, or the majority of trustees or mortgagees, having in their hands or under their control money or securities belonging to a trust, or in respect whereof a trust has arisen by implication or construction of law, may, on filing an affidavit shortly describing the instrument under or in consequence of which the trust arises, according to the best of their knowledge and belief, or if there be no such instrument, then shortly setting out the facts of the case, pay the money or securities into the Supreme Court; and the same shall, subject to rules of Court, be dealt with according to the orders of the Supreme Court, which may also order the administration of the trusts in respect of such money or securities. (2) The receipt or certificate of the proper officer shall be a sufficient discharge to trustees for the money or securities so paid into Court. Proclamation in the Government Gazette 28 (3) Where any moneys or securities are vested in any persons as trustees or mortgagees, and the majority are desirous of paying the same into Court, but the concurrence of the other or others cannot be obtained, the Supreme Court may order the payment into Court to be made by the majority without the concurrence of the other or others; and where any such moneys or securities are deposited with any banker, broker, or other depositary, the Court may order payment or delivery of the moneys or securities to the majority of the trustees for the purpose of payment into Court, and every transfer, payment, and delivery made in pursuance of any such order shall be valid and take effect as if the same had been made on the authority or by the act of all the persons entitled to the moneys and securities so transferred, paid, or delivered. Miscellaneous