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TheTrustee Bill

The Trustee Bill, if passed and when it comes into force, will be a practical answer to some of those tricky issues we all come across from time to time, and a lot else besides. While it includes provisions relating to charitable trusts this overview concentrates on those relating to non-charitable trusts and wills.

1 March 2000

The Trustee Bill

The Trustee Bill, if passed and when it comes into force, will be a practical answer to some of those tricky issues we all come across from time to time, and a lot else besides. While it includes provisions relating to charitable trusts this overview concentrates on those relating to non-charitable trusts and wills.

The Bill implements the recommendations of the Law Commission in Trustees' Powers and Duties (1999) Law Com No. 260. It aims to create a new wider statutory power of investment in place of the limited powers under the Trustee Investment Act 1961; to give trustees new powers to appoint agents, nominees and custodians and to insure property and for trustees to receive payment. It also imposes a new statutory duty of care on trustees. If the trust deed expressly excludes one of the new statutory powers and was made after 3rd August 1961, the power will not take effect. Trust deeds which were executed before 3r...

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