Article 7 Custody of investments

After sub-paragraph (2) of paragraph 22 of Schedule 1 to the Act (trustees and personal representatives) there shall be inserted the following—

“(2A)

Paragraph 13A above does not apply to anything done by a person as a trustee or personal representative unless—

(a)

he holds himself out as providing a service falling within paragraph 13A above; or

(b)

he is remunerated for providing such a service in addition to any remuneration he receives for discharging his duties as trustee or personal representative.”.