1. Interpretation
In this Act, "trust corporation" means a body corporate which is authorised by the instrument constituting it or defining its powers to act as executor of the will or administrator of the estate of a deceased person or as trustee of a settlement whether created by will or otherwise, and which either (a) has for the time being an issued capital of not less than two million shillings or its equivalent; or
gives in any particular case such security as the High Court may determine for the due performance and discharge of the duties, obligations and liabilities imposed on executors and administrators by the provisions of the Succession Act.
Section analysis Source linked
This section supplies the definitions or statutory meaning governing “Interpretation”.
“In this Act, "trust corporation" means a body corporate which is authorised by the instrument constituting it or defining its powers to act as executor of the will or administrator of the estate of a deceased person or as trustee of a settlement whether created by will or otherwise, and which either (a) has for the time being an issued capital of not less than two million shillings or its equivalent; or”
Use this definition when interpreting other provisions that employ the language addressed by “Interpretation”.
Operative requirements extracted from the consolidated text.
- (b) gives in any particular case such security as the High Court may determine for the due performance and discharge of the duties, obligations and liabilities imposed on executors and administrators by the provisions of the Succession Act.
Express propositions in source-matched passages from judgments citing this section.
No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.
No section-specific amendment note or instrument-level amendment history appears in this consolidation.