Explanatory Memorandum

Trustee Act (Northern Ireland) 2001

2001 CHAPTER 14

20 July 2001

Commentary on Clauses

Part IV: Agents, Nominees and Custodians

Section 26: Restriction or exclusion of this Part etc.

Section 26 makes it clear that these powers are additional to powers conferred on trustees from other sources but they can be restricted or excluded by the trust instrument or legislation. In this regard the new powers relating to agents, nominees and custodians are default powers, as are the new powers of investment and acquisition of land.