Discretionary powers of Public Trustee

The Public Trustee may if he thinks fit– (a) act as custodian trustee of a trust which involves the management or carrying on of any business, but upon the conditions that– (i) he shall not act in the management or carrying on of such business; and (ii) he shall not hold any property of such a nature as will expose the holder thereof to any liability except under exceptional circumstances and when he is satisfied that he is 8 fully indemnified or secured against loss; and (b) accept as ordinary under exceptional circumstances a trust which involves the management or carrying on of any business, but upon the conditions that except with consent of the Minister, he shall only carry on the same– (i) for a period not exceeding eighteen months; (ii) with a view to sale, disposition or winding-up; and (iii) if satisfied that the same can be carried on without risk of loss.