Subject to subsection (5), a trustee who—
is entitled to receive reasonable remuneration out of the trust funds for any services that the trust corporation provides to or on behalf of the trust.
Subject to subsection (5), a trustee who—
is entitled to receive reasonable remuneration out of the trust funds for any services that he provides to or on behalf of the trust if each other trustee has agreed in writing that he may be remunerated for the services.
"Reasonable remuneration" means, in relation to the provision of services by a trustee, such remuneration as is reasonable in the circumstances for the provision of those services to or on behalf of that trust by that trustee and for the purposes of subsection (1) includes, in relation to the provision of services by a trustee who is a deposit taker and provides the services in that capacity, the deposit taker's reasonable charges for the provision of such services.
In subsection (3), " deposit taker " means—
A reference in subsection (3A) to a person or firm with permission to accept deposits does not include a person or firm with permission to do so only for the purposes of, or in the course of, carrying on another regulated activity in accordance with that permission.
Subsections (3A) and (3B) must be read with—
A trustee is entitled to remuneration under this section even if the services in question are capable of being provided by a lay trustee.
A trustee is not entitled to remuneration under this section if any provision about his entitlement to remuneration has been made—
This section applies to a trustee who has been authorised under a power conferred by Part IV or the trust instrument—
as it applies to any other trustee.