37-110 Review of and liability for agents, nominees and custodians
Where personal representatives have authorised65 a person to exercise functions as their agent66 or appointed a person to act as their nominee67 or custodian68, then, while the agent, nominee or custodian continues to act for the estate, the personal representatives must:
(a)keep under review the arrangements by which the agent, nominee or custodian acts and how those arrangements are being put into effect;
(b)consider, if circumstances make it appropriate to do so, whether there is a need to exercise any power of intervention that they have; and
(c)do so, if they consider that there is a need to exercise such a power.69
Want to read more?
This content requires a Croner-i Tax and Accounting subscription.