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- An Act to amend the law relating to trustees and persons having the investment powers of trustees; and for connected purposes.
www.legislation.gov.uk/ukpga/2000/29/contents
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An Act to amend the law relating to trustees and persons having the investment powers of trustees; and for connected purposes.
- Introductory Text
Trustee Act 2000, Introductory Text is up to date with all...
- Explanatory Notes
Section 28: Trustee’s entitlement to payment under trust...
- The Duty of Care
(1) Whenever the duty under this subsection applies to a...
- Standard Investment Criteria
(1) In exercising any power of investment, whether arising...
- Schedule 1
Agents, nominees and custodians E+W. 3 (1) The duty of care...
- General Power of Investment
(1) Subject to the provisions of this Part, a trustee may...
- Advice
(1) Before exercising any power of investment, whether...
- Power to Employ Agents
(1) Subject to the provisions of this Part, the trustees of...
- Introductory Text
A trust is a legal relationship created (in lifetime, or on death) by a settlor when assets are placed under the control of a trustee for the benefit of a beneficiary, or for a specified purpose.
The term is defined in the Trustee Act 1925 (section 68(1) paragraph (18) which definition was extended by Law of Property (Amendment) Act 1926 section 3). Trust Fund: see section 39(1) of...
By deeds of appointment made in 2003, the trustees es-tablished a protectorship regime. Under that regime, the protector was able to give or withhold consent to any exercise by the trustees of their powers of appoint-ment, remove any trustee from office, and appoint new trustees and protectors.
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- 14
Agents, nominees and custodians. —(1) The duty of care applies to a trustee—. when entering into arrangements under which a person is authorised under section 11 to exercise functions as an agent;...
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The trustees are the legal owners of the assets held in a trust. Their role is to: deal with the assets according to the settlor’s wishes, as set out in the trust deed or their will. manage the trust on a day-to-day basis and pay any tax due. decide how to invest or use the trust’s assets.
The Trustee Act 2000 (c. 29) is an act of the Parliament of the United Kingdom that regulates the duties of trustees in English trust law.