What happens if there are multiple Private Portfolio Custodians and the Creation Deed does not specify how to manage the Private Portfolio or make decisions related to it?
If the Creation Deed does not provide for the method of managing the Private Portfolio or making decisions, the Private Portfolio Custodians must act jointly and make decisions based on a numerical majority, unless there is a need for urgent action to protect the Beneficiary's interests or the purpose of the Private Portfolio does not require an exchange of opinion, such as debt collection or payment.