Section 327: Body corporate being eligible to be trustee

1) A body corporate which is established in accordance with law may be appointed as a trustee.

2) If the body corporate referred to in sub-section (1) is appointed as a trustee, the person working as the chief of such a body or a person to whom the power is delegated by a decision of the board of directors of such a body shall act on behalf of such a body.

Explanation: For the purposes of this Section, the term “person working as the chief” means the chairperson, director, managing director, general manager, executive director of such body or a person empowered by such a body to work as its chief.