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Companies Act 1985
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- UK Public General Acts
- 1985 c. 6
- SCHEDULE 2
- Part I
- Trustee’s right to expenses,...
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Changes over time for: Cross Heading: Trustee’s right to expenses, remuneration, indemnity, etc.
Version Superseded: 01/10/2009
Alternative versions:
- 01/02/1991- Amendment
- 06/04/1997
Point in time - 01/10/2009- Amendment
Status:
Point in time view as at 06/04/1997.
Changes to legislation:
Companies Act 1985, Cross Heading: Trustee’s right to expenses, remuneration, indemnity, etc. is up to date with all changes known to be in force on or before 23 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Trustee’s right to expenses, remuneration, indemnity, etc.E+W+S
4(1)Where a company is a trustee . . . F1, there are to be disregarded any rights which the company has in its capacity as trustee including, in particular, any right to recover its expenses or be remunerated out of the trust property and any right to be indemnified out of that property for any liability incurred by reason of any act or omission of the company in the performance of its duties as trustee.
(2)[F2As this paragraph applies for the purposes of section 23(2)] . . . F3, sub-paragraph (1) has effect as if references to a company included any body corporate which is a subsidiary of a company.
[F4(3)As respects sections 145, 146 and 148, sub-paragraph (1) above applies where a company is a personal representative as it applies where a company is a trustee.]
Textual Amendments
F1Words repealed (subject to the transitional and saving provisions in S.I. 1990/355, arts. 5–9) by Companies Act 1989 (c. 40, SIF 27), ss. 23, 212, 213(2), Sch. 10 para. 18(5)(a), Sch. 24
F2Words substituted by Companies Act 1989 (c. 40, SIF 27), ss. 129(2), 213(2)
F3Words repealed (subject to the transitional and saving provisions in S.I. 1990/355, arts. 5–9) by Companies Act 1989 (c. 40, SIF 27), ss. 23, 212, 213(2), Sch. 10 para. 18(5)(b), Sch. 24
F4Sch. 2 para 4(3) added (subject to the transitional and saving provisions in S.I. 1990/355, arts. 6–9) by Companies Act 1989 (c. 40, SIF 27), ss. 23, 213(2), Sch. 10 para. 18(5)
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