Section 26: Managing trustee
consolidated text (as at 2012, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
26. Managing trustee
(1) The terms of a trust may provide for the appointment of a managing
trustee having the role and functions to manage the trust without being
vested with the trust property which is vested in a custodian trustee.
(2) Where the terms of a trust reserve the exercise of any of the trustees’ powers to the managing trustee, no other trustee shall be liable for any
of the decisions, acts or transactions of the managing trustee to the extent
that they amount to exercise of powers so reserved.