Part IV Agents, nominees and custodians
Nominees and custodians
19 Persons who may be appointed as nominees or custodians.
1
A person may not be appointed under section 16, 17 or 18 as a nominee or custodian unless one of the relevant conditions is satisfied.
2
The relevant conditions are that—
a
the person carries on a business which consists of or includes acting as a nominee or custodian;
b
the person is a body corporate which is controlled by the trustees;
c
the person is a body corporate recognised under section 9 of the M1Administration of Justice Act 1985.
3
The question whether a body corporate is controlled by trustees is to be determined in accordance with F2section 1124 of the Corporation Tax Act 2010.
4
The trustees of a charitable trust which is not an exempt charity must act in accordance with any guidance given by the F1Charity Commission concerning the selection of a person for appointment as a nominee or custodian under section 16, 17 or 18.
5
Subject to subsections (1) and (4), the persons whom the trustees may under section 16, 17 or 18 appoint as a nominee or custodian include—
a
one of their number, if that one is a trust corporation, or
b
two (or more) of their number, if they are to act as joint nominees or joint custodians.
6
The trustees may under section 16 appoint a person to act as their nominee even though he is also—
a
appointed to act as their custodian (whether under section 17 or 18 or any other power), or
b
authorised to exercise functions as their agent (whether under section 11 or any other power).
7
Likewise, the trustees may under section 17 or 18 appoint a person to act as their custodian even though he is also—
a
appointed to act as their nominee (whether under section 16 or any other power), or
b
authorised to exercise functions as their agent (whether under section 11 or any other power).