HL Deb 23 February 1982 vol 427 c926WA
Lord O'Hagan

asked Her Majesty's Government:

What purpose is served by the continued existence of the Public Trustee.

The Lord Chancellor

The Public Trustee acts as an executor, trustee and custodian trustee where appointed. He frequently acts as a trustee of last resort and may not refuse a trust solely on the grounds of its small value. He also manages the common investment funds and administers pension, friendly society and disaster funds.