Where trustees are the qualifying tenant1 of a flat2 contained in any premises, their powers under the instrument regulating the trusts include power to be a member of an RTM company3 for the purpose of the acquisition and exercise of the right to manage the premises4; but this does not apply where the instrument regulating the trusts contains an explicit direction to the contrary5.
The power so conferred is exercisable with the same consent or on the same direction, if any, as may be required for the exercise of the trustees' powers, or ordinary powers, of investment
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