Singapore legislation

Section 41T

of Trustees Act 1967

Section 41T

Remuneration and expenses of agents, nominees and custodians

(1)

This section applies if, under a power conferred by Part 4A or any other written law, or by the trust instrument, a person other than a trustee has been —

(a)

authorised to exercise functions as an agent of the trustees; or

(b)

appointed to act as a nominee or custodian.

(2)

The trustees may remunerate the person mentioned in subsection (1) out of the trust funds for services if —

(a)

the person is engaged on terms entitling the person to be remunerated for those services; and

(b)

the amount does not exceed such remuneration as is reasonable in the circumstances for the provision of those services by the person to or on behalf of that trust.

(3)

The trustees may reimburse the person mentioned in subsection (1) out of the trust funds for any reasonable expenses properly incurred by the person in exercising functions as an agent, nominee or custodian.

Read in full context — Trustees Act 1967 →