5. Standard investment criteria

(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.

(3)

The standard investment criteria, in relation to a trust, are —

(a)

the suitability to the trust of investments of the same kind as any particular investment proposed to be made or retained and of that particular investment as an investment of that kind; and

(b)

the need for diversification of investments of the trust, insofar as is appropriate to the circumstances of the trust.

(4)

This section applies in relation to trusts whether created before, on or after 15 December 2004.