Professional Trustee definition

Professional Trustee means a person who -
Professional Trustee means a Professional Trustee, nominated by the Developer
Professional Trustee means a trustee who is registered under Article 9 of the Financial Services (Jersey) Law 19981, by the Jersey Financial Services Commission, to carry on trust company business within the meaning of Article 2(3) of that Law;

Examples of Professional Trustee in a sentence

  • The Professional Trustee may attend Board meetings but will only serve in an advisory capacity and will no voting rights whatsoever.

  • If at any time the Trustee is not a corporation or a Professional Trustee, there must be two or more individuals acting jointly as Trustee.

  • If any Trustee forms the opinion that a deadlock exists in relation to the administration of the trust, the Trustees shall then be deemed to have resigned from their office and the Appointor, or if no Appointor, the resigning Trustees shall appoint a Professional Trustee (who is not a resigning Trustee) in accordance with this clause.

  • The Professional Trustee must be familiar with the operation and management of the Estate.

  • Any trustee who is a Professional Trustee other than a Trustee Corporation, will be entitled to charge and be paid all professional or other charges for any business or act done by him or her, or his or her firm, in connection with the special disability fund hereof including acts which a trustee could have done personally as if he or she were not such a trustee.


More Definitions of Professional Trustee

Professional Trustee means a professional trustee, nominated by the Developer during the Development Period, and thereafter by the Board, which professional trustee is nominated and co-opted to the Board for his specific level of skill, expertise, knowledge of the Estate or Sectional Title Scheme, and experience in his field of qualification;
Professional Trustee means a Professional Trustee, nominated by
Professional Trustee means any limited company or trust corporation that holds itself out as being an independent professional trustee and is a director of the Trustee or any director or representative of such a limited company or trust corporation who is a director of the Trustee;
Professional Trustee means a natural person or a body corporate engaged as a business, trade, profession or vocation in the provision of services of a trustee;
Professional Trustee means each person identified as such in the Facility Application.
Professional Trustee means a trustee that that is licensed as a trust company under the Trust Companies (Licensing and Supervision) Ordinance;
Professional Trustee means someone (such as a solicitor or accountant) who is a trustee as part of their business or profession. It would also include a trustee who has (or claims to have) specialist knowledge or experience of something.