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There are outstanding changes not yet made by the legislation.gov.uk editorial team to Trustee Act 1925. Any changes that have already been made by the team appear in the content and are referenced with annotations.
Commencement Orders bringing legislation that affects this Act into force:
(1)The receipt in writing of a trustee for any money, securities, [F1investments] or other personal property or effects payable, transferable, or deliverable to him under any trust or power shall be a sufficient discharge to the person paying, transferring, or delivering the same and shall effectually exonerate him from seeing to the application or being answerable for any loss or misapplication thereof.
(2)This section does not, except where the trustee is a trust corporation, enable a sole trustee to give a valid receipt for—
[F2(a)proceeds of sale or other capital money arising under a trust of land;]
(b)capital money arising under the M1Settled Land Act, 1925.
(3)This section applies notwithstanding anything to the contrary in the instrument, if any, creating the trust.
Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.
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