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Subject_1 Trust Subject_2 Assumption of Trustees Subject_3 Lapsed Trust Subject_4 30 and 31 Vict., c. 97. Facts: The 12th section of the Administration of Trusts Act, applies to the case of a lapsed trust.
The 12th section of the Administration of Trusts Act, 30 and 31 Vict., c. 97, provides that in cases where trustees cannot be assumed under any trust-deed, or where any sole acting trustee has become insane or incapable of acting by reason of physical or mental disability, the Court may appoint a trustee or trustees under the trust-deed.
The Court held that this section of the Act applied to the case of a lapsed trust, where the last surviving trustee had died without having assumed any new trustees.
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Common Room
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