sec.249Application of general powers in relation to existing trust property

sec.249 Application of general powers in relation to existing trust property

To remove any doubt, it is declared that the powers conferred on a trustee in relation to trust property under section 82 apply in relation to trust property held by a trustee immediately before the commencement. Without limiting subsection (1), the powers mentioned in section 82(2)(b) and (c) to renew, extend or vary a lease or mortgage of trust property apply in relation to a lease or mortgage in existence immediately before the commencement. (sec.249-ssec.1) To remove any doubt, it is declared that the powers conferred on a trustee in relation to trust property under section 82 apply in relation to trust property held by a trustee immediately before the commencement. (sec.249-ssec.2) Without limiting subsection (1), the powers mentioned in section 82(2)(b) and (c) to renew, extend or vary a lease or mortgage of trust property apply in relation to a lease or mortgage in existence immediately before the commencement.