(1)In this Act—
“asset” includes any right or interest;
“charitable trust” means a trust under which property is held for charitable purposes and “charitable purposes” has the same meaning as in the M1Charities Act 1993;
“custodian trustee” has the same meaning as in the M2Public Trustee Act 1906;
“enactment” includes any provision of a Measure of the Church Assembly or of the General Synod of the Church of England;
“exempt charity” has the same meaning as in the M3Charities Act 1993;
“functions” includes powers and duties;
“legal mortgage” has the same meaning as in the M4Law of Property Act 1925;
“personal representative” has the same meaning as in the M5Trustee Act 1925;
“settled land” has the same meaning as in the M6Settled Land Act 1925;
“trust corporation” has the same meaning as in the M7Trustee Act 1925;
“trust funds” means income or capital funds of the trust.
(2)In this Act the expressions listed below are defined or otherwise explained by the provisions indicated—
| asset management functions | section 15(5) |
| custodian | section 17(2) |
| the duty of care | section 1(2) |
| the general power of investment | section 3(2) |
| lay trustee | section 28(6) |
| power of intervention | section 22(4) |
| the standard investment criteria | section 4(3) |
| subordinate legislation | section 6(3) |
| trustee acting in a professional capacity | section 28(5) |
| trust instrument | sections 6(2) and 35(2)(a) |
Marginal Citations