Notice to trustees
101 Notice to trustees
[22]Save as otherwise expressly provided by this Act, a tenant for life, or statutory owner when intending to make a sale, exchange, partition, lease, mortgage or charge—
shall give notice of his intention in that behalf to each of the trustees of the settlement, by posting registered letters, containing the notice, addressed to the trustees severally, each at his usual or last known place of abode; and
S. 101(1)(b) amended by No. 35/1996 s. 453(Sch. 1 item 75).
shall give a like notice to the legal practitioner for the trustees, if any such legal practitioner is known to the tenant for life, or statutory owner, by posting a registered letter containing the notice, addressed to the legal practitioner at his place of business—
every letter under this section being posted not less than one month before the time proposed by the tenant for life for the making or granting by the tenant for life or statutory owner of the sale, exchange, partition, lease, mortgage, or charge, or of a contract for the same:
S. 101(1) Proviso amended by Nos 55/1987 s. 57(3)(Sch. 5 item 51), 45/1994 s. 42(Sch. item 8.6).
Provided that a notice under this section shall not be valid unless at the date thereof the trustee is a trustee company, or the number of trustees is not less than two.
The notice shall be accompanied by a statement signed by the tenant for life or statutory owner setting out such particulars and information respecting the proposed transaction as is sufficient to enable the trustees to decide whether they will give or withhold their consent to the particular transaction the subject of the notice.
The tenant for life or statutory owner shall upon request by a trustee of the settlement, furnish to him such particulars and information as may reasonably be required by him from time to time with reference to any sale, exchange, partition, lease, mortgage, charge or contract effected, or in progress, or immediately intended.
Any trustee by writing under his hand, may waive notice in any particular case, and may accept less than one month's notice.
A person dealing in good faith with the tenant for life shall not be concerned to inquire respecting the giving of any such notice as is required by this section, but only as to the consent of the trustees of the settlement or order of the Court, as the case may require.
No. 3771 s. 102.
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