99Payment into Court by trustees

##### 99. Payment into Court by trustees (1) Trustees or the majority of trustees having in their hands or under their control money or securities subject to a trust may pay them into Court; and they shall be dealt with according to the orders, and subject to the rules, of the Court. (2) The receipt or certificate of the proper officer is a sufficient discharge to trustees for any money or securities paid into Court. (3) Where money or securities are vested in any persons as trustees and the majority are desirous of paying them into Court, but the concurrence of the other or others cannot be obtained, the Court may order the payment into Court to be made by the majority without the concurrence of the other or others. (4) Where any money or securities ordered to be paid into Court under subsection (3) are deposited with a banker, broker or other depositary, the Court may order payment or delivery of the money or securities to the majority of the trustees, for the purpose of payment into Court. (5) Every transfer, payment, and delivery of money or securities made in pursuance of any order under this section is valid and takes effect as if it had been made on the authority or by the act of all the persons entitled to the money and securities.