Section 25 provides that these new powers in relation to agents, nominees and custodians are to apply to cases where there is a sole trustee. By section 25(2) the duty in section 18 (appointment of a custodian for investment in bearer securities) does not apply to a sole trustee who is a trust corporation.
Text created by the Northern Ireland Assembly 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 accompany all Acts of the Northern Ireland Assembly.
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