Trustee Ordinance

(1)
Subject to subsection (2
)—
(a)
subsections (3) and (4) apply to a trustee who is a trust corporation; and
(b)
subsections (3) and (4) apply to a trustee who is not a trust corporation, but is acting in a professional capacity as a trustee, other than the sole trustee, of a trust if each of the other trustees of the trust has agreed in writing that the trustee may be remunerated for services provided by the trustee to, or on behalf of, the trust.
(2)
Subsections (3) and (4) apply to a trustee of a charitable or
non-
charitable trust only if the trustee’s entitlement to
remuneration—
(a)
is not provided by the instrument creating the trust or an enactment; and
(b)
is not expressly prohibited by a term in the instrument or enactment.
(3)
A trustee is entitled to receive reasonable remuneration out of trust funds for services provided by the trustee to, or on behalf of, the trust.
(4)
A trustee is to be treated as being entitled under this section to receive remuneration for services provided even if the services are capable of being provided by a lay trustee.
(5)
This section applies to a trustee authorized to act in another capacity as it applies to any other trustee.
(6)
For the purpose of subsection (5), a trustee authorized to act in another capacity is a trustee who has been authorized, under a power conferred by
Part 4A
(appointment of agents, nominees and custodians), the instrument creating the trust or an
enactment—
(a)
to exercise functions as a trustee’s agent; or
(b)
to act as a nominee or custodian.
(7)
For the purposes of this
section—
reasonable remuneration
(
合理酬金
)—
(a)
means, in relation to the provision of services by a trustee of a trust, the remuneration that is reasonable in the circumstances for the provision of those services by the trustee to, or on behalf of, the trust; and
(b)
includes, in relation to the provision of services by a trustee who is an authorized institution under the Banking Ordinance (
Cap. 155
) and provides those services in the course of, or incidental to, the exercise of its function as a trustee, the institution’s reasonable charges for the provision of those services.