Trustee Ordinance

(1)
A trustee of a trust is not liable for any act or omission of an agent, nominee or custodian acting for the trust (each is a
representative
) if the trustee has discharged the statutory duty of care applicable to the trustee under
Division 2 of Schedule 3
when—
(a)
entering into the arrangements under which a person acts as the representative; and
(b)
carrying out the duties to review under
section
                        41M
or
41N
.
(2)
If a trustee has agreed to a term under which a representative is permitted to
sub-
delegate the trustee’s powers or functions to a delegate of the representative, the trustee is not liable for any act or omission of the delegate if the trustee has discharged the statutory duty of care applicable to the trustee under
Division 2 of Schedule 3
when—
(a)
agreeing to that term; and
(b)
carrying out the duties to review under
section 41M
or
41N
as far as the duties relate to the use of the delegate.