Trusts (Scotland) Act 1921
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Change 1
4C Declaration of power to delegate investment management functions
(1) It is declared that the trustees of a trust have and have always had the power, subject to any restriction or exclusion imposed by or under the trust deed or any enactment, to authorise an agent to exercise any of their investment management functions at the agent's discretion or in such other manner as the trustees may direct. (2) In this section— “ enactment ” has the same meaning as in the Scotland Act 1998 (c. 46), and “ investment management functions ” means functions relating to the management of investments of the trust estate, heritable as well as moveable.
4C Declaration of power to delegate investment management functions
(1) It is declared that the trustees of a trust have and have always had the power, subject to any restriction or exclusion imposed by or under the trust deed or any enactment, to authorise an agent to exercise any of their investment management functions at the agent's discretion or in such other manner as the trustees may direct. (2) In this section— “ enactment ” has the same meaning as in the Scotland Act 1998 (c. 46), and “ investment management functions ” means functions relating to the management of investments of the trust estate, heritable as well as moveable.
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