Section 7 Two-trustee rules.

(1)

A requirement imposed by an enactment—

(a)

that capital money be paid to, or dealt with as directed by, at least two trustees or that a valid receipt for capital money be given otherwise than by a sole trustee, or

(b)

that, in order for an interest or power to be overreached, a conveyance or deed be executed by at least two trustees,

is not satisfied by money being paid to or dealt with as directed by, or a receipt for money being given by, a relevant attorney or by a conveyance or deed being executed by such an attorney.

(2)

In this section “relevant attorney” means a person (other than a trust corporation within the meaning of the Trustee Act 1925) who is acting either—

(a)

both as a trustee and as attorney for one or more other trustees, or

(b)

as attorney for two or more trustees,

and who is not acting together with any other person or persons.

(3)

This section applies whether a relevant attorney is acting under a power created before or after the commencement of this Act (but in the case of such an attorney acting under an enduring power created before that commencement is without prejudice to any continuing application of section 3(3) of the Enduring Powers of Attorney Act 1985 to the enduring power after that commencement F1...).

Annotations

Textual amendments

F1: Words in s. 7(3) repealed (1.10.2007) by Mental Capacity Act 2005 (c. 9), s. 68(1), Sch. 7 (with ss. 27-29, 62); S.I. 2007/1897, art. 2(1)(d)