QLDIn ForceAct
Trusts Act 1973
sec.27Power of trustee as to calls on shares
Start here
Get a plain-English read of sec.27
Turn the raw legal text into a practical explanation grounded in Trusts Act 1973.
### sec.27 Power of trustee as to calls on shares
A trustee may—
apply capital money subject to a trust in payment of calls on shares subject to the same trust; and
if the trustee is a trustee corporation, exercise the power conferred by paragraph (a) despite the shares on which the calls are made being shares in the trustee corporation.
s 27 sub 1999 No. 69 s 5
- (a) apply capital money subject to a trust in payment of calls on shares subject to the same trust; and
- (b) if the trustee is a trustee corporation, exercise the power conferred by paragraph (a) despite the shares on which the calls are made being shares in the trustee corporation.