(1) A person may not be appointed under section 16, 17 or 18 as a nominee or custodian unless one of the relevant conditions is satisfied.

(2) The relevant conditions are that -

(a) the person carries on a business which consists of or includes acting as a nominee or custodian;

(b) the person is a body corporate which is controlled by the trustees;

(c) the person is a body corporate recognised under section 9 of the Administration of Justice Act 1985 [1985 c. 61.].

(3) The question whether a body corporate is controlled by trustees is to be determined in accordance with section 1124 of the Corporation Tax Act 2010.

(4) The trustees of a charitable trust which is not an exempt charity must act in accordance with any guidance given by the Charity Commission concerning the selection of a person for appointment as a nominee or custodian under section 16, 17 or 18.