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 clerk of the Quaker Finance & Property Central Committee is a member of that 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, where the terms of trust permit, of property and investments situated in any part of the world and held on trust for the benefit of or in connection with the Religious Society of Friends in Great Britain. In general it considers its function as holding, as distinct from managing, 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.
For the duties of Friends Trusts Limited in connection with the sale or disposition of meeting houses and other property of which it is custodian trustee see 15.10-15.11
Next: 15.03
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