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Law of Property (Amendment) Act 1926

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This is the original version (as it was originally enacted).

3Meaning of "trust corporation"

(1)For the purposes of the Law of Property Act, 1925, the Settled Land Act, 1925, the [15 Geo. 5. c. 19.] Trustee Act 1925, the [15 Geo. 5. c. 23.] Administration of Estates Act, 1925, and the [15 & 16 Geo. 5. c. 49.] Supreme Court of Judicature (Consolidation) Act, 1925, the expression " Trust Corporation " includes the Treasury Solicitor, the Official Solicitor and any person holding any other official position prescribed by the Lord Chancellor, and, in relation to the property of a bankrupt and property subject to a deed of arrangement, includes the trustee in bankruptcy and the trustee under the deed respectively, and, in relation to charitable ecclesiastical and public trusts, also includes any local or public authority so prescribed, and any other corporation constituted under the laws of the United Kingdom or any part thereof which satisfies the Lord Chancellor that it undertakes the administration of any such trusts without remuneration, or that by its constitution it is required to apply the whole of its net income after payment of outgoings for charitable, ecclesiastical or public purposes, and is prohibited from distributing, directly or indirectly, any part thereof by way of profits amongst any of its members, and is authorised by him to act in relation to such trusts as a trust corporation.

(2)For the purposes of this provision, the expression " Treasury Solicitor " means the solicitor for the affairs of His Majesty's Treasury, and includes the solicitor for the affairs of the Duchy of Lancaster.

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