Herbert Ainsworth Settlers Trust Private Act, Amendment (Private) Act 4 of 1953

Herbert Ainsworth Settlers Trust Private Act, Amendment (Private) Act, 1953 (No. 4 of 1953)

Act

to extend the powers conferred on the South African Trustees of the Herbert Ainsworth Settlers Fund by the will of the late Herbert Ainsworth as amended by the Herbert Ainsworth Settlers Trust Private Act, 1934.

(English text signed by the Governor-General.)
(Assented to 25th February, 1953.)

Preamble

Whereas the late Herbert Ainsworth did by Clause 7 of his last will, dated the twenty-third day of August 1919, give all his real and personal estate not otherwise disposed of to the trustees mentioned in the said will upon certain trusts :

And whereas the said Clause 7 was amended by the Herbert Ainsworth Settlers Trust Private Act, 1934, and the powers of the South African trustees as defined in the said Clause 7 were extended :

And whereas it is expedient that the powers of the South African trustees should be further extended so that in addition to the powers conferred on them by Clause 7 of the said will and in terms of the said Act, they should have power to increase the amount which may be advanced to any one person whom the trustees are allowed to assist in accordance with the provisions of the said will and the said Act from the sum of five hundred pounds to the sum of five thousand pounds :

And whereas it is expedient that the costs incurred in connection with this Act should be paid by the South African trustees out of the funds held by them :

Be it enacted by the Queen's Most Excellent Majesty, the Senate and the House of Assembly of the Union of South Africa, as follows:-

Increased powers of South African trustees.

1. Notwithstanding anything to the contrary contained in the said will and the said Act the South African trustees shall have power to increase the amount which may be advanced to any one person whom the trustees are allowed to assist in accordance with the provisions of the said will and the said Act, from the sum of five hundred pounds to the sum of five thousand pounds.

Payment of costs of Act.

2. All costs, charges and expenses of and incident to the preparing, obtaining and passing of this Act, or otherwise in relation thereto, shall be paid by the South African trustees out of the funds in their hands.

Short title.

3. This Act shall be called the Herbert Ainsworth Settlers Trust Private Act, Amendment (Private) Act, 1953.

Commencement

4 March 1953