Trustee Act (Northern Ireland) 2001

Trustee Act (Northern Ireland) 2001

2001 CHAPTER 14

Commentary on Clauses

Part IV: Agents, Nominees and Custodians

Section 24: Effect of trustees exceeding their powers

Sections 24 to 27 are concerned with supplementary matters. Section 24 provides that a failure by trustees to act within the limits of their powers to authorise delegation or appoint nominees or custodians does not invalidate the authorisation or appointment involved. The consequence is that third parties dealing with the agent, nominee or custodian are facilitated and they do not have to make any inquiries into whether the trustees had complied with the statutory requirements.