Power nominatum

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A power of appointment conferred on an individual by name, rather than to a trustee. Unlike a power in the nature of a trust, also granted to an individual in his private capacity, a power nominatum is associated with no fiduciary obligation at all and need not even be exercised. As such, the donee of this non-fiduciary power is accorded near total freedom in wielding the resulting discretion. Indeed, the donee may even release his power, unhampered by the fact that he alone might benefit from doing so. As Megarry VC sagaciously notes In Re Hay's Settlement Trust (1982), the holder of any such non-fiduciary power is 'free to exercise the power in any way he wishes'.

See also power in the nature of a trust, power of appointment.

UK LAW
Trust Law