Trustees Act 1967 · 2020 Revised Edition · Part 8 · General Provisions
91. Saving and transitional provisions
Feedback & supportWhere a trust deed created before 15 December 2004 confers on a trustee the power to invest trust funds in accordance with the repealed First Schedule to this Act in force immediately before that date, however the conferment of that power may be expressed in the trust deed, the power of investment so conferred is, as from that date, deemed to be the general power of investment under section 4 of this Act in force as from that date.
general power of investment
“general power of investment”, in relation to a trustee, means the general power of investment conferred on the trustee by section 4;
A trustee shall not be liable for breach of the statutory duty of care by reason only of the trustee continuing to hold an investment which has ceased to be an investment made by the trustee pursuant to the repealed First Schedule to this Act in force immediately before 15 December 2004 if they are investments which a trustee may make under section 4 of this Act in force as from that date.
statutory duty of care
“statutory duty of care”, in relation to a trustee, means the duty of care required to be exercised by the trustee under Part 1A;