JUDGMENT

Spenser Wilkinson J:

This is an application by the executors and trustees of the Will of Yeap Chor Ee deceased to determine whether a Deed of Settlement dated 30 December 1946 made by the deceased constituted a good and valid gift of 2,000 shares of $100 each in the Ban Hin Lee Bank Ltd. and for consequential orders thereon. The Indenture in question was made between Yeap Chor Ee of the one part and Yeap Chor Ee, Goh Hock Siew, Yeap Kim Hoe and Yeap Hock Hin of the other part. The material parts of the Indenture for the purposes of this application are as follows:

WHEREAS the Settlor is the owner of two thousand (2,000) shares of $100 each fully paid-up in Ban Hin Lee Bank Ltd. having its registered office at No. 43 Beach Street, Penang.

AND WHEREAS in consideration of the natural love and affection of the Settlor for the donees hereinafter mentioned the Settlor is desirous of assigning the said shares to the Trustees to be held by them the trusts hereinafter mentioned.

NOW THIS INDENTURE WITNESSETH as follows:

1. That for the purposes of effectuating the said desire and in consideration of his natural love and affection for the donees hereinafter mentioned the Settlor