Explanatory Memorandum

Trustee Act (Northern Ireland) 2001

2001 CHAPTER 14

20 July 2001

Commentary on Clauses

Part IV: Agents, Nominees and Custodians

Section 12: Persons who may act as agents

Section 12 defines the persons who may act as agents under this new statutory power. There are few limitations. One or more of the trustees may be authorised to act as agent, but not a beneficiary even if he or she is also a trustee. If more than one person is appointed then they must act jointly. A person who is appointed to act as nominee or custodian may be authorised to act as agent too.