Trustee Act 2000

JurisdictionUK Non-devolved
Citation2000 c. 29
to any special knowledge or experience that he has or holds himself out as having, andif he acts as trustee in the course of a business or profession, to any special knowledge or experience that it is reasonable to expect of a person acting in the course of that kind of business or profession.(2) In this Act the duty under subsection (1) is called “the duty of care”.
  • Schedule 1 makes provision about when the duty of care applies to a trustee.
  • (1) Subject to the provisions of this Part, a trustee may make any kind of investment that he could make if he were absolutely entitled to the assets of the trust.(2) In this Act the power under subsection (1) is called “the general power of investment”.(3) The general power of investment does not permit a trustee to make investments in land other than in loans secured on land (but see also section 8) .one person provides another with credit, andthe obligation of the borrower to repay is secured on land.(5) “Credit” includes any cash loan or other financial accommodation.(6) “Cash” includes money in any form.(1) In exercising any power of investment, whether arising under this Part or otherwise, a trustee must have regard to the standard investment criteria.(2) A trustee must from time to time review the investments of the trust and consider whether, having regard to the standard investment criteria, they should be varied.the suitability to the trust of investments of the same kind as any particular

    To continue reading

    Request your trial

    VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT