Singapore legislation

Section 41B

of Trustees Act 1967

Section 41B

Power to appoint agents

(1)

Subject to the provisions of this Part, the trustees of a trust may authorise any person to exercise all or any of their delegable functions as their agent.

(2)

In the case of a trust other than a charitable trust, the trustees’ delegable functions consist of any function other than —

(a)

any function relating to whether or in what way any assets of the trust should be distributed;

(b)

any power to decide whether any fees or other payment due to be made out of the trust funds should be made out of income or capital;

(c)

any power to appoint a person to be a trustee of the trust; or

(d)

any power conferred by any other written law or the trust instrument which permits the trustees to delegate any of their functions or to appoint a person to act as a nominee or custodian.

(3)

In the case of a charitable trust, the trustees’ delegable functions are —

(a)

any function relating to carrying out a decision that the trustees have taken;

(b)

any function relating to the investment of assets subject to the trust (including, in the case of land held as an investment, managing the land and creating or disposing of an interest in the land); and

(c)

any function relating to the raising of funds for the trust otherwise than by means of profits of a trade which is an integral part of carrying out the trust’s charitable purpose.

(4)

For the purposes of subsection (3)(c), a trade is an integral part of carrying out a trust’s charitable purpose if, whether carried on in Singapore or elsewhere, the profits are applied solely to the purposes of the trust and either —

(a)

the trade is exercised in the course of the actual carrying out of a primary purpose of the trust; or

(b)

the work in connection with the trade is mainly carried out by beneficiaries of the trust.

Read in full context — Trustees Act 1967 →