50F. Money received by manager to be applied under directions of the Court.
- All money received by the manager shall be applied to the purpose hereinafter mentioned, in accordance with such instructions as the Court may from time to time give in this behalf. Priority shall be given to the purposes included in Class I over those included in Class II and to the purposes included in Class II over those included in Class III.Class IThe payment of all charges necessary for the management and supervision of the trust property.Class IIThe punctual payment of the Government revenue, all cesses, rates and taxes, and other public demands from time to time due in respect of the trust property or any part of the trust property.Class IIIThe payment of all rents, cesses and other payments due to any superior landlord in respect of any land forming part of the trust property.The liquidation of debts charged on the trust property or legally payable by the trustees out of the trust property.The payment of all expenses incurred in litigation necessary in connection with the trust property.The maintenance in an efficient condition of the buildings and other immovable property of the trust.The payments to the beneficiaries in accordance with the provisions of the instrument of trust.
