Parnell’s Trust Act 27 Vic (NSW)

Pam's Tavs. Ary Act to enable William Parnell and Charles

Preamble.

Parnell the surviving Trustees of the will of Thomas Parnell deceased to sell certain sheep and cattle stations and stock being part of the trust property and to invest the money to arise from such sale upon the trusts of the said will. [80th January, 1864.]

V HEREAS Thomas Parnell late of Richmond Bottoms in the County of Cumberland and of Osterley in the County of Northumberland grazier deceased by his last will and testament bearing date the eighteenth day of October onc thousand eight hundred and fifty-two and of which he appointed his wife Elizabeth Parnell since deceased and his sons William Parnell of Richmond and Charles Parnell of Osterley in the said Colony to be exceutors and trustees gave and bequeathed to his said trustees the residue of his live

1864. 27° VIC.

Parnel's Trust.

live stock upon trust in the events which have happened for all and every his children living at his deecase (except as therein mentioned) as should have attained the age of twenty-one years or been marricd or as should afterwards live to attain the age of twenty-one years or marry before that age to be divided between or amongst them in equal shares And he divected that the shares of such of his said children as should be a son or sons of and in the residue of his said live stock should be delivered to him or them respectively at his or their respective ages of twenty-one years and that the share or shares of such of his said children as should be a daughter or daughters of and in the residue of his said live stock should be delivered to her or them respectively at her or their respective ages of twenty-one years or day or respective days of marriage which should first happen and he directed that a partition and division of the said live stock should be made when and as cach of his said children should become entitled to his or her share and that such partitions and divisions should be made by the trustees or trustec for the time being of his will in such manner as they or he or she in their his or her discretion should think proper And the said testator by his said will authorized his said trustces or trustec in their her or his discretion to convert into money by sale or mortgage and apply not more than one-half of the expectant share or shares of any of his said children for his her or their advancement in life And the said testator gave and bequeathed all his estate title and interest in and to all the sheep and cattle stations or runs that he might be possessed of at the time of his decease unto his two youngest children that should be living at the time his youngest child should attain the age of twenty-one years as tenants in common And whereas the said testator diced on the cleventh day of September in the year one thousand cight hundred and fifty-six without having revoked or altered his said will save only in so far as the said will was revoked or altered by two codicils thereto neither of which codicils in any way affected the dispositions hereinbefore mentioned And whereas the shecp and cattle stations or runs and live stock of which the said testator was possessed at the time of his death and which are subject to the trusts of the said will hereinbefore mentioned consisted of the shcep and cattle stations or runs described in the Schedules to this Act together with the stock thereon that is to say two stations or runs adjoining to cach other situate in the District of Liverpool Plains and called or known respectively by the names of the Burrell or Wetalibah and Tuwleumbah runs and in the First Schedule to this Act particularly described together with the stock thereon and seven runs adjoining to cach other situate on the River Darling and called respectively Geera or Wyaberry Willoi Ulouri Back Willoi Back Ulouri Ginge and Back Ginge and in the Second Schedule to this Act particularly described together with the stock thercon And whereas all the children of the said testator who were beneficially interested in the said stations or runs and stock under the trusts of the said will have with the exception of four of such children attained the age of twenty-one years And whercas the children of the said testator who have attained the age of twenty-one years have received a portion of their shares of the said live stock of the said testator and the remainder of such shares are now being mustered for the purpose of being delivered to them and removed from the said runs And whereas the said William Parnell and Charles Parnell as the surviving trustees of the said will of the said testator are now holding and managing the said sheep and cattle stations or runs together with the stock thercon belonging to the infant children of the said testator for the benctit of the said infant children as being the parties now beneficially interested thercin as aforesaid And whereas it will be advantageous to