Settled Land Act 1884
36Minimum number of trustees
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36 Minimum number of trustees
[Section 36 Amended by 25 Geo. V No. 78 ]
(1) Notwithstanding anything in this Act, capital money arising under this Act shall not be paid to fewer than two persons as trustees of a settlement, unless the settlement authorizes the receipt of capital trust money of the settlement by one trustee, or unless the sole trustee is a company authorized by law to act as a trustee.
(2) Subject thereto, the provisions of this Act referring to the trustees of a settlement apply to the surviving or continuing trustees or trustee of the settlement for the time being.
(3) Any company authorized by law to act as a trustee may be appointed as sole trustee of any settlement whenever made, for the purposes of this Act; and any such trustee whenever appointed may lawfully act as trustee of any such settlement.