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Paragraph 10 Distribution of functions between Custodian Trustee and Managing Trustees

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

The Custodian Trustee, if he acts in good faith, shall not be liable for accepting as correct, and acting upon the faith of, any statement of the Managing Trustees as to any matter of fact, nor for acting upon any legal advice obtained by the Managing Trustees independently of the Custodian Trustee, nor for acting in accordance with any directions given to him in writing and purporting to be signed by or on behalf of the Managing Trustees.