Sillitoe's Trustees Act 1855 19 Vic (NSW)

19° VIC. 1855.

Sillitoe's Trustees.

Stumor's Teese. A) Act for enlarging the powers of the Trustees

Preamble.

or Trustee for the time being of a certain Indenture of Release and Settlement made by Mr. Acton Sillitoe of Land at Double Bay in the parish of Alexandria in the county of Cumberland and for enlarging and extending the Trust for sale contained in the said In-

denture and for other purposes therein con- tained. [18th December, 1855. ]

HEREAS by an indenture bearing date on or about ths twenty- eighth day of September one thousand cight hundred and forty-

four and made between Thomas Icely Esquire of the first part Acton Sillitoe merchant of the second part Sarah Sillitoe wife of the said Acton Sillitoe of the third part and Archibald Windeycr Esquire and Archibald Mitchell merchant therein designated "Trustees" of the fourth part in consideration of the sum of eight hundred pounds paid by the said Acton Sillitoe to the said Thomas Icely and in consideration of the natural love and affection which the said Acton Sillitoe had and bore towards the said Sarah Sillitoe and his children the said Thomas Icely by direction of the said Acton Sillitoe granted and released unto the said Trustees a certain parcel of land situated in Double Bay in the parish of Alexandria in the county of Cumberland containing six acres more or less to hold unto and to the use of the said Trustces their heirs and assigns upon certain trusts in the said indenture expressed for the benefit of the said Acton Sillitoe and Sarah Sillitoe his wife during their respective lives and upon the death of the said Sarah Sillitoe or upon the youngest child of the said Acton Sillitoe and Sarah Sillitoe arriving at the age of twenty-one years whichever of the two should last happen upon trust that the said Trustees and the survivor of them and their heirs executors and administrators of such survivor should sell and dispose of the said hereditaments in manner therein mentioned and should hold the residue of the purchase moncy after payment of all expenses attending any sale or sales or otherwise incurred in the exccution of the trusts thereby declared in trust as in the said indenture mentioned And whereas the said Archibald Windeyer has never in anywise acted or interfered in the aforesaid trusts and the said Archibald Mitchell is now the sole acting Trustee of the said settle- ment And whereas divers parts of the land comprised in the said settlement are so situated as to be convertible to profitable account by the sale thereof in allotments for building and it is considered that the entirety thereof may be advantageously sold either in one lot or several lots upon divers terms as to credit for purchase money interest and security for the same and upon other conditions requiring an extension of the powers and authorities of the Trustees so as to enable them to effect an immediate sale of the said land and to confirm and give legal effect to such sale or sales And whereas it is considered that the proceeds of such sales or the other trust moneys from time to time in the hands of the Trustces or Trustee for the time being of the said settlement may from time to time he advantageously invested in the purchase of other lands in New South Wales or upon real or Govern- ment security therein and the advantages to be derived from the improved and marketable value of the trust property will be greatly