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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.
International Accounting Standards Committee, the (IASC) - is an independent private sector body, formed in 1973, with objective of harmonizing the accounting principles that are u
I would like you to take the second set of data from session 8 (the one you worked with in the first participation exercise) and do the following: 1. Determine the number of gr
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In Section we had established an association among the effective and nominal rate of interest where compounding arise n times a year that is as given: r = (1 + k/m ) m - 1
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I have an assignment due in four hours. Is it possible to get an inquiry if at least half of it can be done within that time?
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Mr. Inherits 30000. Decides to open a salon jj salon. On 1/4/2016 commits 10000 to the business Opens an a/c in the bank What will be the money under capital in his books on 1/4/10
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