Trustee Act 1956

  • repealed
  • Trustee Act 1956: repealed, on 30 January 2021, by section 162(a) of the Trusts Act 2019 (2019 No 38).
48 Corporations acting as trustees

(1)

Any trustee corporation may be appointed and may lawfully act as the sole trustee in respect of any trust, notwithstanding that the instrument creating the trust may provide for or direct the appointment of 2 or more trustees. Nothing in this subsection shall prevent any other corporation from acting as a trustee in accordance with any authority vested in it in that behalf, whether by its memorandum of association or otherwise:

provided that no corporation shall administer the estate of any deceased person unless expressly authorised to do so by any Act.

(2)

This section shall not permit the appointment of a corporation as trustee if the instrument creating the trust forbids the appointment of the corporation.

(3)

This section shall extend to all trusts and instruments, and to all appointments of trustees, whether created or made before or after the commencement of this Act.

Compare: 1908 No 200 s 100