What is a custodian trustee?
A custodian trustee is a corporation appointed to have the custody, as distinct from the management, of trust property. (Exceptions are the Public Trustee, the Treasury Solicitor and the Official Custodian, the only individuals able to act as custodian trustees.) Where a custodian trustee is appointed to hold property of a charity, the administration of the charity is left in the hands of the charity trustees. The term custodian trustee was introduced by s.4 of the Public Trustee Act 1906. A custodian trustee is not a charity trustee. See also holding trustee which has a related but different meaning.
