### Trustee Ordinance 《受託人條例》

41G. Power to appoint nominees
(1) Subject to the provisions of this Division, the trustees of a trust may—
(a) appoint a person to act as the trustees’ nominee in relation to any of the assets of the trust as they determine; and 
(b) take the steps that are necessary to ensure that those assets are vested in a person so appointed.
(2) An appointment under subsection (1)(a) must be made, or evidenced, in writing. 
(3) This section does not apply to any trust having a custodian trustee. 

41H. Power to appoint custodians
(1) Subject to the provisions of this Division, the trustees of a trust may appoint a person to act as a custodian in relation to any of the assets of the trust as they determine. 
(2) For the purposes of this Ordinance, a person is a custodian in relation to any assets if the person undertakes the safe custody of the assets or of any documents or records concerning the assets. 
(3) An appointment under subsection (1) must be made, or evidenced, in writing. 
(4) This section does not apply to any trust having a custodian trustee. 

41I. Investment in bearer securities
(1) Trustees may, unless expressly prohibited by the instrument creating the trust or an enactment, retain or invest in securities payable to bearer which, if not so payable, would have been authorized investments. 
(2) A direction that investments must be retained or made in the name of a trustee is not an express prohibition referred to in subsection (1). 
(3) If trustees retain or invest in securities payable to bearer, the trustees must appoint a person to act as a custodian of the securities.
(4) Subsection (3) does not apply if the instrument creating the trust or an enactment contains a provision that (however expressed) permits the trustees to retain or invest in securities payable to bearer without appointing a person as a custodian. 
(5) An appointment under subsection (3) must be made, or evidenced, in writing. 
(6) Subsections (3), (4) and (5) do not impose a duty on a sole trustee if that trustee is a trust corporation. 
(7) Subsections (3), (4) and (5) do not apply to any trust having a custodian trustee. 

### Trustee Ordinance 《受託人條例》

41J. Persons who may be appointed as nominees or custodians
(1) A person may not be appointed under section 41G as a nominee unless one of the conditions mentioned in subsection (2) is satisfied. 
(2) The conditions are—
(a) the person carries on a business that consists of, or includes, acting as a nominee; 
(b) the person is a body corporate that is controlled by the trustees. 
(3) A person may not be appointed under section 41H or 41I as a custodian to undertake the safe custody of the assets or of any documents of title concerning the assets unless one of the conditions mentioned in subsection (4) is satisfied. 
(4) The conditions are—
(a) the person carries on a business that consists of, or includes, acting as a custodian; 
(b) the person is a body corporate that is controlled by the trustees.
(5) For the purpose of subsections (2)(b) and (4)(b), a body corporate is controlled by the trustees if the trustees have the power to ensure that the affairs of the body corporate are conducted in accordance with the wishes of the trustees—
(a) by means of holding shares or possessing voting power in, or in relation to, that body corporate or any other body corporate; or 
(b) because of any powers conferred by the articles of association or other document regulating that body corporate or any other body corporate. 
(6) Subject to subsections (1) and (3), the persons whom the trustees may under section 41G, 41H or 41I (as the case requires) appoint as a nominee or custodian—
(a) include one of the trustees, if that one is a trust corporation; or 
(b) include 2 or more of the trustees, if they are to act as joint nominees or joint custodians. 
(7) The trustees may under section 41G appoint a person to act as their nominee even though the person is also—
(a) authorized to exercise functions as the trustees’ agent (whether under section 41B or any other power); or 
(b) appointed to act as the trustees’ custodian (whether under section 41H or 41I or any other power). 
(8) The trustees may under section 41H or 41I appoint a person to act as their custodian even though the person is also—
(a) authorized to exercise functions as the trustees’ agent (whether under section 41B or any other power); or
(b) appointed to act as the trustees’ nominee (whether under section 41G or any other power).

### Trustee Ordinance 《受託人條例》

41K. Terms of appointment of nominees and custodians
(1) Subject to subsection (2) and Part 4B (remuneration and expenses), the trustees may under section 41G, 41H or 41I appoint a person to act as a nominee or custodian on the terms as to remuneration and other matters that the trustees may determine. 
(2) The trustees may not under section 41G, 41H or 41I appoint a person to act as a nominee or custodian on any of the terms mentioned in subsection (3) unless it is reasonably necessary for them to do so. 
(3) The terms are—
(a) a term permitting the nominee or custodian to sub-delegate the trustees’ powers or functions to a delegate of the nominee or custodian; 
(b) a term restricting the liability of the nominee or custodian, or a delegate of the nominee or custodian, to the trustees or to any beneficiary; and 
(c) a term permitting the nominee or custodian to act in circumstances capable of giving rise to a conflict of interest.
(Amended E.R. 2 of 2014) 

41L. Application of sections 41M, 41N and 41O
(1) Sections 41M, 41N and 41O apply in a case where trustees have, under section 41B, 41G, 41H or 41I—
(a) authorized a person to exercise functions as their agent; or 
(b) appointed a person to act as a nominee or custodian. 
(2) Subject to subsection (3), sections 41M, 41N and 41O also apply in a case where trustees have, under a power conferred on them by the instrument creating the trust or an enactment—
(a) authorized a person to exercise functions as their agent; or 
(b) appointed a person to act as a nominee or custodian. 
(3) If the application of section 41M, 41N or 41O in a case is inconsistent with the terms of the instrument creating the trust or an enactment, that section does not apply to that case.