Tyrrell's Trusts and The Statute 22 & 23 Vict. C. 35, S. 30

• Jurisdiction: Ireland
• Court: Chancery Division (Ireland)
• Judgment Date: 03 May 1889
• Date: 03 May 1889

CHANCERY DIVISION.

IN THE MATTER OF TYRRELL'S TRUSTS AND THE STATUTE 22 & 23 VICT. c. 35, s. 30.

In re Mockett's WillENR John. 628.

Re BarringtonENR 1 J. & H. 142.

Re Mary HooperENR 29 Beav. 656.

22 & 23 Vict. c. 35, s. 30 Construction of Advice to trustees.

VoL. XXIII.] CHANCERY DIVISION. was a gift of the whole of the interim income, within the meaning of the rule. His Lordship made an order for the transfer and payment of the said sum of 99 14s. 7d. stock, and 14 lls. cash dividends thereon, to the applicant. 263 M. R. 1889. In re BYRNE. Solicitor for applicant : Dfr. R. Diacnamara. IN THE MATTER OF TYRRELL'S TRUSTS AND THE STATUTE H. R. 22 & 23 VICT. c. 35, s. 30. 1889. April 29. 22 4. 23 Vict. c. 35, s. 30-Construction of-Advice to trustees. May 3. The 22 & 23 Vict. c. 35, s. 30, was not intended to provide for the decision of nice questions of law, but merely to procure for trustees the assistance of the Court upon points of minor importance arising in the management and administration of trust property. Part of a trust fund was invested upon mortgage of an incumbered estate, which had been twice set up for sale in the Landed Estates Court, when the sale was adjourned for want of bidders. The interest on the mortgage was largely in arrear. The trustees had no power, under their trust deed, to invest in the purchase of real estate. The trustees applied, under the 22 & 23 Vict. c. 35, s. 30, for the opinion and advice of the Judge whether they should invest part of the trust funds in purchasing the fee of the mortgaged lands with a view of re-selling them on favourable terms : Held, that the case was not within the Act. STATEMENT OF FACTS, for the opinion, advice, or direction of the Judge, respecting the management or administration of the trust properties by the trustees of James Tyrrell, deceased. The substance of the statement and the object of the application appear sufficiently from the judgment. Mr. T. Pakenham Law, Q. C., and Mr. David Fitzgerald, for the trustees. They referred to 2 Daniell's Ch. Pr. 1943, and submitted that the application was not as to a matter of law or construction '264 LAW REPORTS (IRELAND). [L. R. I. M. B. of an instrument, but as to the prudence of an act in the adminis 1889. tration of the trust fund on which the trustees acting bona fide were In re authorized by the Act to ask the opinion and advice of the TYRRELL s TRUSTS. Court. May 3. THE MASTER OF THE ROLLS : This is an application under Lord St. Leonard's Act, 22 & 23 Viet. 0. 30, for my opinion, advice, and direction respecting the management or administration of certain trust properties. The application is by summons and statement of facts. By the 30th section of the Act :-" Any trustee, executor, or administrator, shall be at liberty, without the institution of a suit, to apply to any Judge of the High Court of Chancery, or by summons on a written statement to any such Judge at Chambers, for the opinion, advice, or direction of such Judge on any question respecting the management or administration of the trust property, or the assets of any testator or intestate, such application to be served upon, or the hearing thereof to be attended by, all persons interested in such application, or such of them as the Judge shall think expedient ; and the trustee, executor, or administrator, acting upon the opinion, advice, or...