Trustee Act 2000

1. Introduction

2. Summary

3. Background

4. The Bill

5. Commentary on Sections

   1. Part 1: The duty of care

      1. Section 1: The duty of care

      2. Section 2: Application of duty of care

   2. Part II: Investment

      1. Section 3: General powers of investment

      2. Section 4: Standard investment criteria

      3. Section 5: Advice

      4. .

      5. Section 7: Existing trusts

   3. Part III: Acquisition of Land

      1. Section 8: Power to acquire freehold and leasehold land

      2. Section 9: Restriction or exclusion of this Part etc.

      3. Section 10: Existing trusts

   4. Part IV: Agents, Nominees and Custodians

      1. Section 11: Power to employ agents

      2. Section 12: Persons who may act as agents

      3. Section 13: Linked functions etc

      4. Section 14: Terms of agency

      5. Section 15: Asset management: special restrictions

      6. Section 16: Power to appoint nominees

      7. Section 17: Power to appoint custodians

      8. Section 18: Investment in bearer securities

      9. Section 19: Persons who may be appointed as nominees or custodians

      10. Section 20: Terms of appointment of nominees and custodians

      11. Section 21: Application of sections 22 and 23

      12. Section 22: Review of agents, nominees and custodians

      13. Section 23: Liability for agents, nominees and custodians

      14. Section 24: Effects of trustees exceeding their powers

      15. Section 25: Sole trustees

      16. Section 26: Restriction or exclusion of this Part etc.

      17. Section 27: Existing trusts

   5. Part V: Remuneration

      1. Section 28: Trustee’s entitlement to payment under trust instrument

      2. Section 29: Remuneration of certain trustees

      3. Section 30: Remuneration of charitable trustees

      4. Section 31: Trustees’ expenses

      5. Section 32: Remuneration and expenses of agents, nominees and custodians

      6. Section 33: Application

   6. PART VI: Miscellaneous and Supplementary

      1. Section 34: Power to insure

      2. Section 35: Personal representatives

      3. Section 36: Pension schemes

      4. Section 37: Authorised unit trusts

      5. Section 38: Common investment schemes for charities etc

      6. Section 39: Interpretation

      7. Section 40: Minor and consequential amendments etc

      8. Section 41: Power to amend other Acts

      9. Section 42: Commencement and extent

      10. Schedule 1 – Application of duty of care

      11. Schedule 2 – Minor and consequential amendments

      12. Schedule 3 – Transitional provisions and savings

      13. Schedule 4 – Repeals

6. Commencement

7. Hansard References