New South Wales Consolidated Acts
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TRUSTEE ACT 1925 - SECT 95
(1) Where trustees, or the majority of trustees, have in their hands or under
their control money or securities belonging to a trust, they may pay the same
(2) Where any money or securities are vested in any persons as
trustees, and the majority are desirous of paying the same into court, but the
concurrence of the other or others cannot be obtained, the Court may order the
payment into court to be made by the majority without the concurrence of the
other or others.
(3) Where any such money or securities are deposited with
any banker broker or other depositary, the Court may order transfer payment or
delivery of the money or securities to the majority of the trustees for the
purpose of payment into court.
(4) Every transfer payment and delivery made
in pursuance of any such order shall be valid and take effect as if the same
had been made on the authority or by the act of all the persons entitled to
the money or securities so transferred paid or delivered.
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