Trusts Act 2025
sec.50Function of custodian trustee
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sec.50 Function of custodian trustee
A custodian trustee’s function is to do the following, as the managing trustees, by instrument, direct— get in and hold the trust property; invest the trust property; dispose of the trust property. For performing the custodian trustee’s function under subsection (1) , the custodian trustee must perform all acts and execute all documents as the managing trustees, by instrument, direct. This section applies subject to an express contrary intention in the trust instrument. (sec.50-ssec.1) A custodian trustee’s function is to do the following, as the managing trustees, by instrument, direct— get in and hold the trust property; invest the trust property; dispose of the trust property. (sec.50-ssec.2) For performing the custodian trustee’s function under subsection (1) , the custodian trustee must perform all acts and execute all documents as the managing trustees, by instrument, direct. (sec.50-ssec.3) This section applies subject to an express contrary intention in the trust instrument.
- (a) get in and hold the trust property;
- (b) invest the trust property;
- (c) dispose of the trust property.