sec.171Court may make vesting and other orders etc.

sec.171 Court may make vesting and other orders etc.

The court may, on application or on its own initiative, make an order (a vesting order ) vesting the trust property or other property in any person in any way and for any estate or interest that the court directs. Subsection (1) applies subject to section 172 . As well as, or instead of, making a vesting order in relation to the trust property or other property, the court may make any declaration or order, or give any direction, in relation to the property that it considers appropriate, including— for the purpose of making a vesting order under subsection (1) , a declaration that a person is a trustee, within the meaning of this Act, of the property; and an order releasing a contingent right or disposing of a contingent right to any person as the court directs; and an order appointing a person to convey the property or release a contingent right. If the court makes a vesting order in relation to the trust property or other property, it may also make a declaration, or give a direction, about the way the right to transfer the property is to be exercised. In this section— contingent right , in relation to property, includes— a contingent right of an unborn person, or of unborn persons of a class, who, on coming into existence, would become entitled to, or possessed of, the property under a trust; and the estate or interest in the property that an unborn person, or unborn persons of a class, mentioned in paragraph (a) would become entitled to, or possessed of, on coming into existence. (sec.171-ssec.1) The court may, on application or on its own initiative, make an order (a vesting order ) vesting the trust property or other property in any person in any way and for any estate or interest that the court directs. (sec.171-ssec.2) Subsection (1) applies subject to section 172 . (sec.171-ssec.3) As well as, or instead of, making a vesting order in relation to the trust property or other property, the court may make any declaration or order, or give any direction, in relation to the property that it considers appropriate, including— for the purpose of making a vesting order under subsection (1) , a declaration that a person is a trustee, within the meaning of this Act, of the property; and an order releasing a contingent right or disposing of a contingent right to any person as the court directs; and an order appointing a person to convey the property or release a contingent right. (sec.171-ssec.4) If the court makes a vesting order in relation to the trust property or other property, it may also make a declaration, or give a direction, about the way the right to transfer the property is to be exercised. (sec.171-ssec.5) In this section— contingent right , in relation to property, includes— a contingent right of an unborn person, or of unborn persons of a class, who, on coming into existence, would become entitled to, or possessed of, the property under a trust; and the estate or interest in the property that an unborn person, or unborn persons of a class, mentioned in paragraph (a) would become entitled to, or possessed of, on coming into existence.