trust corporation(redirected from trust corporations)
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Related to trust corporations: Trust Companies
trust corporationa company that has as its main or subsidiary sphere of operations the administration of trusts, with itself as TRUSTEE. The company should have an issued capital of at least £250,000, of which at least £100,000 should have been paid up. It is empowered to charge fees for its services at a level not higher than those charged by the public trustee.
The public trustee, set up under the Public Trustee Act 1906, is in effect the nationalized trust corporation. Its fees maybe altered from time to time by statutory instrument.
Collins Dictionary of Law © W.J. Stewart, 2006