Trustee Ordinance

(1)
Subject to the provisions of this Division, the trustees of a trust may authorize a person to exercise one or more of their delegable functions as their agent.
(2)
For a trust that is not a charitable trust, the trustees’ delegable functions are any functions of the trustees other
than—
(a)
a function relating to whether, or in what way, any assets of the trust are to be distributed;
(b)
a power to decide whether any fees or other payment due to be made out of the trust funds is to be made out of income or capital of the trust;
(c)
a power to appoint a person to be a trustee of the trust; or
(d)
a power conferred by the instrument creating the trust or an enactment that permits the trustees to delegate any of their functions or to appoint a person to act as a nominee or custodian.
(3)
For a charitable trust, the trustees’ delegable functions
are—
(a)
a function relating to carrying out a decision that the trustees have taken;
(b)
a function relating to the investment of assets subject to the trust (including, in the case of land held as an investment, managing the land and creating or disposing of an interest in the land); and
(c)
a function relating to the raising of funds for the trust (otherwise than by means of profits of a trade which is an integral part of carrying out the trust’s charitable purpose).
(4)
For the purposes of subsection
(3
)(
c)
, a trade, whether carried on in Hong Kong or elsewhere, is an integral part of carrying out a trust’s charitable purpose if the profits of the trade are applied solely for the purposes of the trust and
either—
(a)
the trade is carried on in the course of the actual carrying out of a primary purpose of the trust; or
(b)
the work in connection with the trade is mainly carried out by the beneficiaries of the trust.