Administration of Estates (Trust Corporations) Act

The Laws of Zambia
Copyright Ministry of Legal Affairs, Government of the Republic of Zambia
REPUBLIC OF ZAMBIA
THE ADMINISTRATION OF ESTATES
(TRUST CORPORATIONS) ACT
CHAPTER 62 OF THE LAWS OF ZAMBIA
CHAPTER 62 THE ADMINISTRATION OF ESTATES (TRUST CORPORATIONS)
ACT
THE ADMINISTRATION OF ESTATES (TRUST CORPORATIONS) ACT
ARRANGEMENT OF SECTIONS
Section
1. Short title
2. Interpretation
3. Special cases
4. Power to grant representation to a trust corporation
5. Affidavits
6. Sealing of grant of probate
7. Vesting in the corporation
8. Effect
9. Penalties
CHAPTER 62

ant representation to a trust corporation
5. Affidavits
6. Sealing of grant of probate
7. Vesting in the corporation
8. Effect
9. Penalties
CHAPTER 62

The Laws of Zambia
Copyright Ministry of Legal Affairs, Government of the Republic of Zambia
ADMINISTRATION OF ESTATES (TRUST CORPORATIONS)
An Act to enable bodies corporate to act as executors and administrators; and to
provide for matters incidental to or connected therewith. [17th August, 1956]
27 of 1956
13 of 1994
Statutory Instrument
72 of 1964
1. This Act may be cited as the Administration of Estates (Trust Corporations) Act. Short title
2.

of 1956
13 of 1994
Statutory Instrument
72 of 1964
1. This Act may be cited as the Administration of Estates (Trust Corporations) Act. Short title
2.

In this Act, unless the context otherwise requires- Interpretation
"trust corporation" means-
(a) any incorporated banking or insurance or guarantee or trust
company which has a capital (in stock or shares) for the time being
issued of not less than five hundred thousand kwacha, of which not
less than two hundred thousand kwacha shall have been paid up in
cash; or
(b) any body corporate which has a capital (in stock or shares) for the
time being issued of not less than five hundred thousand kwacha, of
which not less than two hundred thousand kwacha shall have been
paid up in cash, and which is for the time being empowered (by the
British Act, Act, charter, memorandum of association, deed of
settlement or other instrument constituting it or defining its powers)
to undertake trust business, but for so long a time only as such body
corporate shall not, by any prospectus, circular, advertisement or
other document issued by it or on its behalf, state or hold out that
any liability attaches to the general revenues of the Republic in
respect of any act or omission of such body corporate when acting
as an executor or administrator. (As amended by S.I. No. 72 of 1964)
3.

Republic in
respect of any act or omission of such body corporate when acting
as an executor or administrator. (As amended by S.I. No. 72 of 1964)
3.

Notwithstanding anything contained in the definition of "trust corporation" in
section two, a company or body corporate which would be a trust corporation but for the
fact that it does not for the time being fulfil the requirements as to capital in paragraph (a)
or (b) of the said definition may act as executor or administrator in any particular case with
the leave of the High Court and on giving such security as the High Court may determine
and, thereupon, for the purpose of so acting as executor or administrator, such company
or body corporate shall be deemed to be and to have the rights, powers and duties of a
trust corporation under this Act. Special cases
4. (1) The High Court may- Power to grant
representation to a
trust corporation

powers and duties of a
trust corporation under this Act. Special cases
4. (1) The High Court may- Power to grant
representation to a
trust corporation

The Laws of Zambia
Copyright Ministry of Legal Affairs, Government of the Republic of Zambia
(a) where a trust corporation is named in a will as executor, whether alone or
jointly with another person, grant probate to the corporation either solely or
jointly with another person, as the case may require;
(b) grant administration to a trust corporation, either solely or jointly with
another person;
and the corporation may act accordingly as executor or administrator, as the case may be. (2) Probate or administration shall not be granted to a syndic, nominee or attorney
on behalf of a trust corporation. 5. Any officer authorised for the purpose by a trust corporation, or the directors or
governing body thereof, may, on behalf of the corporation, swear affidavits, give security
and do any other act or thing which the court may require with a view to the grant to the
corporation of probate or administration, and the acts of an officer so authorised shall be
binding on the corporation. Affidavits
6.

the grant to the
corporation of probate or administration, and the acts of an officer so authorised shall be
binding on the corporation. Affidavits
6.

Where a trust corporation is appointed attorney for sealing a grant of probate or
administration under the Probates (Resealing) Act, any officer authorised for the purpose
by the trust corporation, or the directors or governing body thereof, may, on behalf of the
trust corporation, swear affidavits, give security and do any other act or thing which the
court may require with a view to the sealing of the grant, and the acts of an officer so
authorised shall be binding on the corporation. Sealing of grant of
probate. Cap. 61
7. (1) Where, at the commencement of this Act, any interest in any estate is vested
in a syndic, nominee or attorney on behalf of a trust corporation acting as the personal
representative of a deceased person, the said interest shall, by virtue of this Act, vest in
the corporation, and the syndic, nominee or attorney shall be kept indemnified by the
corporation in respect of the said
interest.

f this Act, vest in
the corporation, and the syndic, nominee or attorney shall be kept indemnified by the
corporation in respect of the said
interest.

Vesting in the
corporation
(2) This section shall not apply to securities registered or inscribed in the name of a
syndic, nominee or attorney or to land or a charge affected or created by an instrument
registered under the Lands and Deeds Registry Act, in the name of the syndic, nominee or
attorney but any such securities, land or charge shall be transferred by the syndic,
nominee or attorney to the corporation, or as the corporation may direct. Cap. 185
8. This Act shall have effect whether the testator or intestate died before or after
the commencement of this Act, and no such vesting or transfer shall operate as a breach
of a covenant or condition against alienation or give rise to a forfeiture. Effect
9. Where any corporation, in the exercise of any power conferred by this Act,
commits any such act, or is in such default, as would render an individual liable to
attachment and imprisonment, such corporation may be ordered by the court to pay a fine
not exceeding fifteen thousand penalty units. (As amended by Act No. 13 of 1994)
Penalties