Powers and duties of trustees—Scotland It is worth noting at the outset that powers will enable trustees to act and give effect to the trust purposes whereas duties will compel trustees to meet an obligation. Source of trustees' powers Trustees' powers are derived from a combination of current law and the applicable deed of trust. Trustees' powers flow from a composite of legislative enactments incorporating the Trusts (Scotland) Act 1921 (T(S)A 1921), the Trusts (Scotland) Act 1961 (T(S)A 1961), the Trustee Investments Act 1961, and the Charities and Trustee Investment (Scotland) Act 2005 (CTI(S)A 2005). Perhaps most notable is that general powers of trustees are to be found in T(S)A 1921, s 4, powers and duties specific to a trustee's powers of investments are incorporated at T(S)A 1921, ss 4A–4C, and powers capable of being granted by the court at T(S)A 1921, s 5. Supplementary to the above will be the powers incorporated in the deed of trust itself. It is common for trustees' powers as provided for in the trust deed to be extensive and ‘catch all’. Certainly, it would be expected to see specific narrative dealing with trustees' powers to invest the trust fund, to deal with heritable property, to advance capital and income, to lend (often with or without security), to delegate or instruct professional advisors (or agents or nominees), to insure, and to deal with business assets. Exercise
Service in Scottish civil litigation Brexit: The UK's departure from the EU has implications for practitioners considering service of documents in a foreign jurisdiction. For general guidance on the implications of Brexit for Scottish civil litigation, see Practice Note: Brexit considerations for Scottish dispute resolution practitioners. For England and Wales guidance, see Practice Note: Brexit post implementation period—considerations for dispute resolution practitioners including, in particular, main section: Service of documents. Coronavirus (COVID-19): The guidance detailing normal practice set out in this Practice Note may be affected by measures concerning process and procedure in the Scottish civil courts that have been introduced as a result of the coronavirus (COVID-19) pandemic. The key implications for service are set out below. For a general overview of how the Scottish courts are responding to and operating during the coronavirus pandemic, see Practice Note: Coronavirus (COVID-19) implications for dispute resolution in Scotland. Further information can also be found on our Coronavirus (COVID-19)—Scotland tracker. This Practice Note provides an overview of serving documents in Scottish civil court proceedings. ‘Service’ is used in this note to refer to the means by which court documents are provided to another party in litigation. It focuses primarily on the initiation of an action, although the processes will usually apply equally to the intimation of a document once the court procedure is under way. For guidance on: • issues to consider before
Discover our 3 Practice Notes on Multiplepoinding
Speed up all aspects of your legal work with tools that help you to work faster and smarter. Win cases, close deals and grow your business–all whilst saving time and reducing risk.
**Trials are provided to all LexisNexis content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisNexis services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
"LexisNexis is great as I can find the answers I am looking for really quickly. I believe that nothing should be more than 6 clicks away - and the products from LexisNexis deliver on this standard"
Access all documents on Multiplepoinding
0330 161 1234