# Trustee Act 2000, Section 20: Terms of appointment of nominees and custodians.


(1) Subject to subsection (2) and sections 29 to 32, the trustees may under section 16, 17 or 18 appoint a person to act as a nominee or custodian on such terms as to remuneration and other matters as they may determine.
(2) The trustees may not under section 16, 17 or 18 appoint a person to act as a nominee or custodian on any of the terms mentioned in subsection (3) unless it is reasonably necessary for them to do so.
(3) The terms are—
(a) a term permitting the nominee or custodian to appoint a substitute;
(b) a term restricting the liability of the nominee or custodian or his substitute to the trustees or to any beneficiary;
(c) a term permitting the nominee or custodian to act in circumstances capable of giving rise to a conflict of interest.

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Source: https://www.legislation.gov.uk/ukpga/2000/29/section/20 (the official version)
Page: https://openlegislation.uk/trustee-act-2000/section-20
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.