State Authorities (Development and Management) Act , 1993

1 Definitions.

1.—In this Act unless the context otherwise requires—

“the Indenture of Conveyance in Trust” means the said Indenture of Conveyance in Trust of the 3rd day of October, One Thousand Nine Hundred and Sixty-Three made between the Honourable Jeremy Ulick Browne Altamont (under his then name Jeremy Ulick Browne) commonly called Lord Altamont of the One Part and Richard Michael Ritchie and Anthony Gosselin Trower of the Other Part;

“the Trustees” means the original and present Trustees of the Indenture of Conveyance in Trust and their successors and assigns;

“the Settlor” means the Honourable Jeremy Ulick Browne Altamont commonly called Lord Altamont.

2 Appointment by Settlor of uses.

2.—The Indenture of Conveyance in Trust shall be read and construed as though the following clause was from the date of the Indenture of Conveyance in Trust contained therein that is to say:

“1B. to such uses upon such trusts and with and subject to such powers and provisions as the Settlor shall from time to time by any deed or deeds revocable or irrevocable with the consent of the Trustees appoint and in default of and subject to any such appointment:”.

3 Withdrawal of Settlor from Settlement.

3.—The Indenture of Conveyance in Trust shall be read and construed as though the following clause was from the date of the Indenture of Conveyance in Trust contained therein that is to say:

“21. The Settlor may from time to time or at any time by deed wholly or partially withdraw from this Settlement for his own benefit or otherwise and without substituting any equivalent for the same the whole or any portion or portions of the properties described in the First or the Second Schedule hereto or any property substituted therefore hereby settled and may by such deed revoke all the limitations, trusts, powers and provisions herein declared of or concerning the lands so withdrawn and appoint, sell, mortgage, lease, grant or convey the same in whole or in part free from this Settlement in any manner as he shall think proper, but nevertheless without prejudice to any leases or mortgages which may have been previously created under the powers hereof and as between the property so withdrawn or any part thereof and the property, if any, which shall remain subject thereto, the burden of any mortgage created as aforesaid and affecting the property jointly shall, subject to the consent of such mortgagees, be borne exclusively by the property so remaining subject in exoneration of the property so withdrawn. It is acknowledged by the Trustees that the term of years vested in them by the provisions hereof in respect of the properties described in the First and Second Schedule hereto or any property substituted therefor shall, on the withdrawal by the Settlor of the whole or any part of the property described in the First or the Second Schedule hereto merge in the freehold and/or leasehold reversion expectant thereon and the Trustees shall execute all such assurances and things as are necessary to perfect the transfer of the title to the property so withdrawn.”.

4 Validity of prior acts done by Trustees.

4.—Nothing in sections 2 and 3 hereof shall affect the validity of any acts done by the Trustees pursuant to their powers and duties under the Indenture of Conveyance in Trust prior to the coming into effect of this Act.

5 Continuance of Trust, as amended.

5.—Save as hereby amended the Indenture of Conveyance in Trust shall be and remain in full force and effect.

6 Expenses.

6.—The costs, charges and expenses preliminary to and of and incidental to the preparing, obtaining and passing of this Act may be paid and discharged by the Trustees out of funds held by them upon the trusts of the Indenture of Conveyance in Trust.

7 Short title.

7.—This Act may be cited as The Altamont (Amendment of Deed of Trust) Act, 1993.