Trustee Delegation Act 1999
| Jurisdiction | UK Non-devolved |
land,capital proceeds of a conveyance of land, orincome from land,“conveyance” has the same meaning as in the Law of Property Act 1925, andreferences to a trustee function of the donor are to a function which the donor has as trustee (either alone or jointly with any other person or persons) .applies only if and so far as a contrary intention is not expressed in the instrument creating the power of attorney, andhas effect subject to the terms of that instrument.is liable for the acts or defaults of the donee in exercising any function by virtue of subsection (1) above in the same manner as if they were acts or defaults of the donor, butis not liable by reason only that a function is exercised by the donee by virtue of that subsection.apply only if and so far as a contrary intention is not expressed in the instrument (if any) creating the trust, andhave effect subject to the terms of such an instrument.(6) The fact that it appears that, in dealing with any shares or stock, the donee of the power of attorney is exercising a function by virtue of subsection (1) above does not affect with any notice of any trust a person in whose books the shares are, or stock is, registered or inscribed.(7) In any case where (by way of exception to section 3(1) of the a statutory provision, ora provision of the instrument (if any) creating a trust,(9) Subject to section 4(6) below, this section applies only to powers of attorney created after the commencement of this Act.(1) This section applies where the interest of a purchaser depends on the donee of a power of attorney having power to do an act in relation to any property by virtue of section 1(1) above.In section 10(2) of the
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1) For section 25 of the Notwithstanding any rule of law or equity to the contrary, a trustee may, by power of attorney, delegate the execution or exercise of all or any of the trusts, powers and discretions vested in him as trustee either alone or jointly with any other person or persons.commences as provided by the instrument creating the power or, if the instrument makes no provision as to the commencement of the delegation, with the date of the execution of the instrument by the donor; andcontinues for a period of twelve months or any shorter period provided by the instrument creating the power.The persons who may be donees of a power of attorney under this section include a trust corporation.each person (other than himself) , if any, who under any instrument creating the trust has power (whether alone or jointly) to appoint a new trustee; andeach of the other trustees, if any;in the form set out in subsection (6) of this section; orin a form to the like effect but expressed to be made under this subsection,The form referred to in subsection (5) of this section is as follows— “THIS GENERAL TRUSTEE POWER OF ATTORNEY is made on [date] by [name of one donor] of [address of donor] as trustee of [name or details of one trust].I appoint [name of one donee] of [address of donee] to be my attorney [if desired, the date on which the delegation commences or the period for which it continues (or both) ] in accordance with section 25(5) of the Trustee Act 1925.[To be executed as a deed]”.The donor of a power of attorney given under this section shall be liable for the acts or defaults of the donee in the same manner as if they were the acts or defaults of the donor.For the purpose of executing or exercising the trusts or powers delegated to him, the donee may exercise any of the powers conferred on the donor as trustee by statute or by the instrument creating the trust, including power, for the purpose of the transfer of any inscribed stock, himself to delegate to an attorney power to transfer, but not including the power of delegation conferred by this section.The fact that it appears from any power of attorney given
- In this subsection “purchaser” has the same meaning as in Part I of the Law of Property Act 1925.
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