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Application of certain instruments.
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39.—Where
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(a) the business agreed to be transferred consists of or includes the business of acting as trustee, executor, guardian or in any other fiduciary capacity, and
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(b) the transferor was or is granted probate or administration or appointed trustee, executor, guardian or in any other fiduciary capacity by an instrument consisting of—
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(i) an order of a court,
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(ii) a trust deed, settlement, covenant or agreement, or
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(iii) a will, codicil or other testamentary instrument,
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or
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by any testamentary act other than those aforesaid (whether the instrument or act was made, executed or done before or after the transfer date),
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the instrument or act shall as from the transfer date be read and construed and have effect as if for any reference therein to the transferor there were substituted a reference to the transferee.
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