Article 39 Exercise of powers by member trustees
No rule of law that a trustee may not exercise the powers vested in him so as to give rise to a conflict between his personal interest and his duties to the beneficiaries shall apply to a trustee of a trust scheme, who is also a member of the scheme, exercising the powers vested in him in any manner, merely because their exercise in that manner benefits, or may benefit, him as a member of the scheme.
Notes on the whole Order
Textual amendments
- F1
functions transf. by SR 1999/481
- F2
functions transf. by 2005 NI 1