Re G.H.L. and the Trustee Acts
| Jurisdiction | Ireland |
| Judgment Date | 16 March 1928 |
| Date | 16 March 1928 |
| Court | Unspecified Court |
Investments in stocks outside the Irish Free State - One of two trustees declared a person of unsound mind - New trustee appointed by continuing trustee - Vesting order -Trustee Act, 1850 (13 14 Vict., c. 60) ss. 3, 5, 20.
The proceeds of life insurance policies came to the hands of trustees under a settlement. The moneys were invested in four stocks, two of which were New Zealand Inscribed Stocks, one British War Stock, and one certain first mortgage debentures of Canadian Vickers, Ltd. One of the trustees was subsequently declared of unsound mind. By a deed made under the powers in the settlement a new trustee was appointed in the place of the trustee of unsound mind. The deed contained a vesting declaration:—Held, that the Court had not such jurisdiction as would authorise or empower the making of an effective mandatory order which would oblige the authorities in control of the stocks and securities, not being Irish Free State stocks or securities, to register the name of the new trustee in the place of the trustee of unsound mind as joint owner with the continuing trustee of such stocks and securities, but...
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