[Ch. 19.]
Trustee Act, 1925.
[15 Geo. 5.]
A.D. 1925.
- “income” includes rents and profits; and possessed applies to receipt of income of and to any vested estate less than a life interest in possession or in expectancy in any land;
- (11) “Property” includes real and personal property, and any estate share and interest in any property, real or personal, and any debt, and any thing in action, and any other right or interest, whether in possession or not;
- (12) “Rights” include estates and interests;
- (13) “Securities” include stocks, funds, and shares; and so far as relates to payments into court has the same meaning as in the enactments relating to funds in the Supreme Court and “securities payable to bearer” include securities transferable by delivery or by delivery and endorsement;
- (14) “Stock” includes fully paid up shares, and so far as relates to vesting orders made by the court under this Act, includes any fund, annuity, or security transferable in books kept by any company or society, or by instrument of transfer either alone or accompanied by other formalities, and any share or interest therein;
- (15) “Tenant for life,” “statutory owner,” “settled land,” “settlement,” “trust instrument,” “trustees of the settlement,” “lunatic,” “defective,” “term of years absolute” and “vesting instrument” have the same meanings as in the Settled Land Act, 1925, and “entailed interest” has the same meaning as in the 15 Geo. 5. c. 20.Law of Property Act, 1925;
- (16) “Transfer” in relation to stock or securities, includes the performance and execution of every deed, power of attorney, act, and thing on the part of the transferor to effect and complete the title in the transferee;
- (17) “Trust” does not include the duties incident to an estate conveyed by way of mortgage, but with this exception the expressions “trust” and “trustee” extend to implied and constructive trusts, and to cases where the trustee has a
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