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Trustee Act 2000, Section 14 is up to date with all changes known to be in force on or before 01 July 2016. 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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(1)Subject to subsection (2) and sections 15(2) and 29 to 32, the trustees may authorise a person to exercise functions as their agent on such terms as to remuneration and other matters as they may determine.
(2)The trustees may not authorise a person to exercise functions as their agent on any of the terms mentioned in subsection (3) unless it is reasonably necessary for them to do so.
(3)The terms are—
(a)a term permitting the agent to appoint a substitute;
(b)a term restricting the liability of the agent or his substitute to the trustees or any beneficiary;
(c)a term permitting the agent to act in circumstances capable of giving rise to a conflict of interest.
Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.
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