PART I
What is a Trust and to what the Act applies ?
II. T O WHAT KINDS OF T RUSTS THE A CT APPLIES ?
- Section 1 says in what cases the Act shall not apply. They are:
(i) Wakfs created by a Mohammedan.
(ii) Mutual relations of the members of an undivided family as determined by any customary or personal law.
(iii) Trusts to distribute prizes taken in war among the captors.
(iv) Public or Private religious or Charitable Endowments.
2. Explanations.
I. Wakf.—Permanent dedication by a person professing the Mussalman faith of any property for any purpose recognized by the Mussalman Law as religious, pious or charitable.
Two classes of Wakfs—
(i) Where benefit is reserved to the settlor and his family— Act VI of 1913 applies.
(ii) Where no benefit is reserved—Act 42 of 1923 applies.
II. M UTUAL RELATIONS OF MEMBERS OF AN UNDIVIDED FAMILY .
Illus.—
The manager of a joint Hindu family and other members of the family.
A Hindu widow and a reversioner.
Their relations are not governed by the Trust Act. They are governed by customary law or personal law.
III. D ISTRIBUTION OF P RIZES TAKEN IN WAR .
Prize. —A term applied to a ship or goods captured jure belli by the maritime force of a belligerent at sea or seized in port.
All prizes taken in war vest in the sovereign, and are commonly by the royal warrant granted to trustees upon trust to distribute in a prescribed manner amongst the captors.
To such a trust created for the purpose of distributing prizes the Trust Act does not apply.