Chapter 14 » 14.45
Friends Trusts Limited
Friends Trusts Limited is a company which is limited by guarantee and does not have a share capital. It was incorporated in 1923 and is recognised as the trust corporation for the Religious Society of Friends in Great Britain. It is a registered charity, number 237698. The members of the board of management are appointed by Meeting for Sufferings and are not remunerated. The Yearly Meeting Treasurer is a member of the board ex officio. The registered office of Friends Trusts Limited is at 173 Euston Road, London NW1 2BJ.
The main object of the company is to act as custodian trustee or holding trustee, where the terms of trust permit, of property and investments situated in any part of the world and held in trust for the benefit of or in connection with the Religious Society of Friends in Great Britain. In general its function is to hold title to, as distinct from to manage, property and investments; any decisions, as regards both capital and income, are normally taken by the managing trustees of the meeting or other Quaker body to whom the property belongs, and Friends Trusts Limited then acts entirely on the instructions of such beneficial owner.
If trustees wish to use a separate nominee to hold investments they should consult Friends Trusts Limited for the procedure to be followed.