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APPOINTMENT OF TRUSTEESCapacity:Any person with legal capacity to hold property may be a trustee, except an infant. But the court will not appoint, and may remove:Persons under a disability; Persons resident abroad; or Beneficiaries or their spouses or solicitors.Numbers:If the trust property includes land, the maximum number is four (in the case of a private trust; (s.36) and the minimum two, or a trust corporation (a sole trustee cannot give a receipt for capital money arising under a trust for sale of land or under a settlement of land; s.15. If not, there is no maximum or minimum number,Original trustees:These are appointed by the settlor; if he fails to appoint, he or his personal representatives act as trustees. The settlor has no power to make subsequent appointments unless he reserves the power to do so. New trustees:
New trustees may be appointed in writing to replace a trustee who: Is dead; Remains continuously out of kenya for more than one year; Desires to be discharged; Refuses to act; Is (legally) unfit to act, e.g. Bankrupt;Appointment by court:The court may appoint trustees:Whenever it is difficult, inexpedient or impracticable to appoint without the court’s assistance, on the application of a trustee or a beneficiary e.g. in substitution for a trustee who is bankrupt, mentally defective or a convicted criminal.
Current analysis You will need about $150,000 in start-up costs but you can only borrow half of that amount from your family's home equity (at 13% interest). You will have to b
Ask questiJohn’s away at the moment, and his email provider has a size limit on the data that can be sent via email. What is a potential solution for John, and name a provider that
IFRS guidelines IFRSs Gives the guideline on the content and the accounting statements of certain events and transactions in the financial statements. The following IFRSs are r
A Treasury bond that matures in 10 years has a yield of 3%. A 10-year corporate bond has a yield of 9%. Suppose that the liquidity premium on the corporate bond is 0.8%. What is th
2000
1) The detailed information is on the second tab marked "Financials". Enter summarized Balance Sheet and Income Statement information for Cummins into the template on the "Summary
The current market price of a Leigh bond is $1,297.6. If the coupon rate is 10% and the par value is equal to $1,000, what is the yield to maturity of the bond if it matures in 10
5 accounting techniques
Loan stock in subsidiary The holding company may also invest in the loan stock of the subsidiary company or part of the loan stock of the subsidiary company. The cost of the loa
explain the terms recording,classifying,summarizing and communicating
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