Administration and Probate Act 1935

Where a trust corporation is appointed an executor in a will, either alone or jointly with another person, the Court may grant probate to such corporation, either solely or jointly with another person, as the case may require, and the corporation may act as executor accordingly.

Administration may be granted to any trust corporation either solely or jointly with another person, and the corporation may act as administrator accordingly.

Representation shall not be granted to a syndic or nominee on behalf of any trust corporation.

Any officer authorized for the purpose by any such corporation or by the directors or governing body thereof may swear affidavits, give security, and do any other act or thing which the Court may require on behalf of the trust corporation with a view to the grant of representation to the corporation, and the acts of such officer shall be binding on the corporation, and he shall be entitled to be kept indemnified by the corporation in regard to matters so authorized as aforesaid.

Where at the commencement of this Act any interest in real or personal estate is vested in a syndic on behalf of any trust corporation acting as the personal representatives of a deceased person, the same shall, by virtue of this Act, vest in the corporation, and the syndic shall be kept indemnified by the corporation in regard to the interest so vested. This subsection does not apply to securities registered in the name of a syndic, or to land, or to a mortgage or charge of which the syndic is registered proprietor under the Land Titles Act 1980, but any such securities, land, mortgage, or charge shall be transferred by the syndic to the corporation, or as the corporation may direct.

This section has effect whether the deceased died before or after the commencement of this Act; and no such vesting or transfer as aforesaid shall operate as a breach of a covenant or condition against alienation or give rise to a forfeiture.