Appointment and retirement of trustees

(1) On every instrument for effecting an appointment of a new trustee and on every instrument for effecting the retirement of a trustee when a new trustee is not appointed in his place, there shall be paid a duty of $12.00. (2) On every conveyance of property, not being a transfer of a mortgage, solely for giving effect to the appointment of a new trustee or the retirement of a trustee, there shall be paid a duty of …….... $12.00. (3) Where on the conveyance of property or the transfer of a mortgage the stamp duty, if payable ad valorem, would exceed twelve dollars, a person who for valuable consideration takes or deals, or proposes or intends to take or deal with the property or mortgage or the property comprised in the mortgage shall not, by reason only of the stamp duty on the conveyance or transfer being twelve dollars, whether assessed by the Commissioners or not, be deemed to have or to have had notice of any trust, or that the conveyance or transfer was made for giving effect to the appointment of a new trustee, or the retirement of a trustee.