Singapore legislation
Section 41Q
Section 41Q
Trustee’s entitlement to payment under trust instrument
(1)
Except to the extent (if any) to which the trust instrument makes an inconsistent provision, subsections (2), (3) and (4) apply to a trustee if —
there is a provision in the trust instrument entitling the trustee to receive payment out of trust funds in respect of services provided by the trustee to or on behalf of the trust; and
the trustee is a trust corporation or is acting in a professional capacity.
(2)
The trustee is treated as being entitled under the trust instrument to receive payment in respect of services even if the services are capable of being provided by a lay trustee.
(3)
Subsection (2) applies to a trustee of a charitable trust who is not a trust corporation only —
if the trustee is not a sole trustee; and
to the extent that a majority of the other trustees have agreed that it should apply to the trustee.
(4)
Any payment to which the trustee is entitled in respect of services is treated as remuneration for services (and not as a gift) for the purposes of —
section 57(4) of the Probate and Administration Act 1934 (Administration of assets); and
section 10 of the Wills Act 1838 (Gifts to attesting witness or to wife or husband of attesting witness to be void).
(5)
For the purposes of this Part, a trustee acts in a professional capacity if the trustee acts in the course of a profession or business which consists of or includes the provision of services in connection with —
the management or administration of trusts generally or a particular kind of trust; or
any particular aspect of the management or administration of trusts generally or a particular kind of trust,and the services the trustee provides to or on behalf of the trust fall within that description.
(6)
For the purposes of this Part, a person acts as a lay trustee if the person —
is not a trust corporation; and
does not act in a professional capacity.