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trust corporation

The *Public Trustee or a corporation either appointed by the court to act as trustee or automatically entitled to do so because it is incorporated in the UK and has issued capital of at least 250,000 of which at least 100,000 has been paid up in cash. A trust corporation may exercise all the powers that would otherwise require two trustees (e.g. selling land). The clearing banks and others have subsidiary companies that are trust corporations.

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