Hong Kong Ordinances

TRUSTEE ORDINANCE - SECT 21

Power to insure

(1) A trustee may insure against loss or damage by fire and typhoon any
building or other insurable property to any amount, including the amount of
any insurance already on foot, up to the full value of the building or
property, and pay the premiums for such insurance out of the income thereof or
out of the income of any other property subject to the same trusts without
obtaining the consent of any person who may be entitled wholly or partly to
such income.

(2) This section does not apply to any building or property which a trustee is
bound forthwith to convey absolutely to any beneficiary upon being requested
to do so. [cf. 1925 c. 19 s. 19 U.K.]