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Section 15 General powers of trusteesI1

Scotland Not yet in force

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

(1)

Except in so far as the trust deed expressly provides otherwise (or, in a case where there is no trust deed, the context requires or implies otherwise) the trustees have in relation to the trust property all the powers of a natural person beneficially entitled to the property.

(2)

But this section is without prejudice to—

(a)

a trustee’s fiduciary duty (including a trustee’s duty to fulfil the trust purposes),

(b)

a trustee’s duty of care, and

(c)

any restriction or exclusion imposed by or under this Act or any other enactment.

(3)

This section applies irrespective of when the trust was created.

Annotations

Commencement

I1

S. 15 not in force at Royal Assent, see s. 88(3)