Hong Kong Ordinances

TRUSTEE ORDINANCE - SECT 16

Power to do other acts

A personal representative, or 2 or more trustees acting together, or, subject
to the restrictions imposed in regard to receipts by a sole trustee not being
a trust corporation, a sole acting trustee where by the instrument, if any,
creating the trust, or by statute, a sole trustee is authorized to execute the
trusts and powers reposed in him, may, if and as he or they think fit-

   (a)  accept any property, before the time at which it is made transferable
        or payable; or

   (b)  sever and apportion any blended trust funds or property; or

   (c)  pay or allow any debt or claim on any evidence that he or they think
        sufficient; or

   (d)  accept any composition or any security, for any debt, or for any
        property, claimed; or

   (e)  allow any time for payment of any debt; or

   (f)  compromise, compound, abandon, submit to arbitration, or otherwise
        settle any debt, account, claim, or thing whatever relating to the
        testator's or intestate's estate or to the trust, and for any of those
        purposes may enter into, give, execute and do such agreements,
        instruments or composition or arrangement, releases, and other things
        as to him or them seem expedient, without being responsible for any
        loss occasioned by any act or thing so done by him or them in good
        faith. [cf. 1925 c. 19 s. 15 U.K.]