Some Notes on the Establishment of the Office of Public Trustee in England

Extract

In bringing these Notes under the consideration of the members I feel some apology is needed for the reason that the subject may he said to be somewhat outside the scope of the ordinary proceedings of the Institute.

In addition, however, to its legal aspects, which will doubtless appeal to a profession which demands from its members a not inconsiderable knowledge of law, I venture to think there are other grounds on which the subject may be considered suitable for discussion.

The Public Trustee Act brings into being a Department, which, from its intimate connection with the affairs of the people and the large financial interests involved, may in course of time rank only second to some of the great Departments of the State, and, from this point of view alone, the subject is of interest.

Moreover, it has a close connection with the work of many Actuaries owing to the large investments made by Life Offices in reversionary securities, this kind of investment being peculiarly affected by questions concerning the trusteeship.

When, further, it is remembered that Insurance Companies form one of the classes of Corporate Bodies which may be authorized by the Treasury and Public Trustee to undertake the duties of Custodian Trustees, I think it will be admitted that the subject is one with which we are practically concerned.