Probate and letters of administration may be granted to trust corporations

(1) The Supreme Court may- (a) where a trust corporation is named in any testamentary instrument as the executor of any deceased person, whether alone or jointly with any other person, grant probate to the 5 corporation either solely or jointly with some other person, as the case may require; and (b) on the application of any trust corporation, grant to the corporation, either solely or jointly with any other person, letters of administration to the estate of any deceased person. (2) Where probate or letters of administration are granted to any trust corporation under subsection (1) of this section either solely or jointly with any other person, such corporation may act as executor or administrator, as the case may be, as if such trust corporation were an individual. such