Breaches of fiduciary duty - Unauthorised renumeration of trustees
3 important questions on Breaches of fiduciary duty - Unauthorised renumeration of trustees
How do we determine 'professional capacity' under s 28(5)?
Where the trustee works in a profession or business which consists of or includes the administration of trusts.
Under s 29(2), if the trustee is not a trust corporation, how are they able to charge fees?
The trustee will only be able to charge fees if all the other trustees agree in writing (written consent).
Can a trust corporation that is a sole trustee be reasonably renumerated? Refer to the relevant section of the Trustee Act 2000.
A trust corporation can charge remuneration even though it is the only trustee (s 29)(1).
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