Trustee Ordinance

(1)
While an agent continues to act for a trust, the trustees of the trust
must—
(a)
keep under review the arrangements under which the agent acts and the way in which those arrangements are being put into effect;
(b)
if circumstances make it appropriate to do so, consider whether there is a need to exercise any power of intervention that the trustees have; and
(c)
if the trustees consider that there is a need to do so, exercise the power of intervention.
(2)
If an agent has been authorized to exercise asset management functions, the duty to review under subsection (1)
includes—
(a)
a duty to consider whether there is a need to revise or replace the policy statement made for the purposes of
section 41F
;
(b)
if the trustees consider that there is a need to revise or replace the policy statement, a duty to do so; and
(c)
a duty to assess whether the policy statement is being complied with.
(3)
The trustees must carry out the review as frequently as the circumstances of the trust may require having regard to the nature of the functions required to be exercised by the agent.
(4)
Section 41F(3)
and (4) applies to the revision or replacement of a policy statement under this section as it applies to the making of a policy statement under that section.
(5)
For the purposes of subsection (1
)—
power of intervention
(
干預權力
)
includes—
(a)
a power to give directions to the agent; and
(b)
a power to revoke the authorization or appointment of the agent.