Section 59
Power of Court to authorize dealings with trust property
Where in the management or administration of any property vested in trustees, any sale, lease, charge, surrender, release, or other disposition, or any purchase, investment, acquisition, expenditure, or other transaction, is in the opinion of the Court expedient, but the same cannot be effected by reason of the absence of any power for that purpose vested in the trustees by the trust instrument, if any, or by law, the Court may by order confer upon the trustees, either generally or in any particular instance, the necessary power for the purpose, on such terms, and subject to such provisions and conditions, if any, as the Court may think fit and may direct in what manner any money authorized to be expended, and the cost of any transaction, are to be paid or borne as between capital and income.
(2)
In amplification and not in derogation of the generality of the foregoing powers the Court may by order under subsection (1)—
(a)
authorize the trustees to make any investments in or upon titles to immovable property which are not authorized by paragraph 4(1)(c);
(b)
authorize any trustees who are chargees of land to buy in any such land at any auction of such land held under an order of Court or in exercise of a power of sale vested in the trustees;
(c)
authorize the trustees to raise any funds for the improvement of lands or houses which are vested in or belong to the trust; or
(d)
authorize the doing by the trustees of any act which appears to the Court to be beneficial to the trust estate or to the beneficiaries.
(3)
The Court may, from time to time, rescind or vary any order under this section, or may make any new or further order.
60 Laws of Malaysia ACT 208
(4)
An application to the Court under this section may be made by the trustees, or by any of them, or by any person beneficially interested under the trust.