lease as a trustee, add the words “as trustee” after that person’s English name and add the words “作為受託人” after that person’s Chinese name in the Title Register concerned, but the Registrar shall not enter particulars of the trust concerned in the Title Register.
(3) For the avoidance of doubt, it is hereby declared that subsections (1) and (2) shall not prevent the making of an entry of a consent caution, non-consent caution, inhibition or restriction in the Title Register by reason only of the fact that the entry contains particulars of a trust.
(4) A person who, in the capacity of trustee, is registered under this section as the owner of registered land or a registered charge, or as the lessee of a registered long term lease—
- (a) shall be subject to any interests to which the land, charge or lease is subject at the time of registration of the person as the owner or lessee, as the case may be; and
- (b) without prejudice to paragraph (a), for the purposes of any dealing in the land, charge or lease, shall have all the rights conferred under this Ordinance or any other enactment on the owner of registered land or a registered charge, or the lessee of a registered long term lease, as the case may be, who has acquired the land, charge or lease for valuable consideration.
(5) No breach of the terms of the trust to which the person, land, charge or lease referred to in subsection (4) is subject shall create any right or indemnity under this Ordinance.
70. Protection of person dealing with trustees
Where a person, in the capacity of trustee, is registered as the owner of registered land or a registered charge, or as the lessee of a registered long term lease, he shall, in dealing with the land, charge or lease, be deemed to be the owner of that land or charge or lessee of that lease, and no disposition that amounts to a breach of trust by the trustee to a bona fide purchaser for valuable consideration shall be defeasible by reason only of the fact of that breach.
PART 10
Cautions and Restraints on Disposition
71. Registration of cautions
(1) A person who intends to effect a dealing in registered land, a registered charge or a registered long term lease may present to the Registrar an application for the registration of a consent caution in respect of the dealing if he has obtained the consent of the relevant person specified in subsection (2).
