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43.—(1) In this Act—
“asset” includes any right or interest;
“asset management function” has the meaning given in section 15(5);
“charitable trust” means a trust under which property is held for charitable purposes and “charitable purposes” has the same meaning as in the Charities Act (Northern Ireland) 1964 (c. 33);
“custodian” has the meaning given by section 17(2);
“the duty of care” has the meaning given by section 1(2);
“the general power of investment” has the meaning given by section 3(2);
“personal representative” has the same meaning as in the Trustee Act (Northern Ireland) 1958 (c. 23);
“settled land” has the same meaning as in the Settled Land Act 1882 (c. 38);
“statutory provision” has the same meaning as in section 1(f) of the Interpretation Act (Northern Ireland) 1954 (c. 33);
“trust corporation” has the same meaning as in the Trustee Act (Northern Ireland) 1958 (c. 23);
“trust funds” means income or capital funds of the trust.
(2) For the purposes of this Act, a statutory provision is not to be regarded as being, or as being part of, a trust instrument.
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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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