21APower of Management Committee to authorize Public Trustee or trustee company as custodian trustee

21A Power of Management Committee to authorize Public Trustee or trustee company as custodian trustee

[Section 21A Inserted by No. 100 of 1986, s. 7 ]

(1)  The Management Committee may, with the approval of the Minister, authorize The Public Trustee or a trustee company to hold any property of the Management Committee as a custodian trustee.

(2)  The Public Trustee or a trustee company shall deal with any property of the Management Committee held by it as a custodian trustee pursuant to subsection (1) in accordance with the Trustee Companies Act 1953 but subject to such directions as the Management Committee may determine from time to time.

(3)  *[Section 21A Subsection (3) amended by No. 20 of 1995, s. 5 and Sched. 3 ]*In this section –

The Public Trustee has the meaning assigned to that expression in the Public Trustee Act 1930 ;

trustee company has the meaning assigned to that expression in the Trustee Companies Act 1953 .