Commentary on Clauses Part IV: Agents, Nominees and Custodians Section 19: Persons who may be appointed as nominees or custodians
Section 19 regulates the persons who may be appointed as nominees or custodians. The objective is to protect beneficiaries. Section 19(2) provides that the person to be appointed must be someone carrying on a business of that nature, or a body corporate controlled by the trustees, or a body corporate recognised under Article 26A of the Solicitors (Northern Ireland) Order 1976. In the case of a charitable trust, the trustees must comply with guidance from the Department for Social Development as to the selection of nominees and custodians (section 19(4)). The trustees may appoint one of their number if that one is a trust corporation, or two or more of their number to act jointly as nominees or custodians. They may appoint the same person as nominee, custodian and agent.