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Trustee Investments Act 1961

Changes to legislation:

Trustee Investments Act 1961 is up to date with all changes known to be in force on or before 31 October 2024. There are changes that may be brought into force at a future date. Help about Changes to Legislation

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Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the affected provisions when you open the content using the Table of Contents below.

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Changes and effects yet to be applied to :

  1. Introductory Text

  2. 1. New powers of investment of trustees.

  3. 2. Restrictions on wider-range investment.

  4. 3. Relationship between Act and other powers of investment.

  5. 4. Interpretation of references to trust property and trust funds.

  6. 5. Certain valuations to be conclusive for purposes of division of trust fund.

  7. 6. Duty of trustees in choosing investments.

  8. 7. Application of ss. 1–6 to persons, other than trustees, having trustee investment powers.

  9. 8. Application of ss. 1–6 in special cases.

  10. 9. Supplementary provisions as to investments.

  11. 10. Powers of Scottish trustees supplementary to powers of investment.

  12. 11.Local Authority investment schemes.

  13. 12. Power to confer additional powers of investment.

  14. 13. Power to modify provisions as to division of trust fund.

  15. 14. Amendment of s. 27 of Trusts (Scotland) Act 1921.

  16. 15. Saving for powers of court.

  17. 16. Minor and consequential amendments and repeals.

  18. 17. Short title, extent and construction.

  19. SCHEDULES

    1. FIRST SCHEDULE

      Manner of Investment

      1. Part I Narrower-Range Investments not Requiring Advice

        1. 1.In Defence Bonds, National Savings Certificates and Ulster Savings Certificates...

        2. 2.In deposits in the National Savings Bank . . ....

      2. Part II Narrower-Range Investments Requiring Advice

        1. 1.In securities issued by Her Majesty’s Government in the United...

        2. 2.In any securities the payment of interest on which is...

        3. 3.In fixed-interest securities issued in the United Kingdom by any...

        4. 4.In fixed-interest securities issued in the United Kingdom by the...

        5. 4A.In securities issued in the United Kingdom by the government...

        6. 5.In fixed-interest securities issued in the United Kingdom by the...

        7. 5A.In securities issued in the United Kingdom by

        8. 5B.In securities issued in the United Kingdom by the African...

        9. 6.In debentures issued in the United Kingdom by a company...

        10. 7.In stock of the Bank of Ireland. In Bank of...

        11. 8.In debentures issued by the Agricultural Mortgage Corporation Limited or...

        12. 9.In loans to any authority to which this paragraph applies...

        13. 9A.In any securities issued in the United Kingdom by any...

        14. 10.In debentures or in the guaranteed or preference stock of...

        15. 10A.In any units of a gilt unit trust scheme. A...

        16. 11.. . . . . . . . . ....

        17. 12.In deposits with a building society within the meaning of...

        18. 13.In mortgages of freehold property in England and Wales or...

        19. 14.In perpetual rent charges charged on land in England and...

        20. 15.In Certificates of Tax Deposit.

        21. 16.In fixed-interest or variable interest securities issued by the Government...

        22. 17.In any securities the payment of interest in which is...

        23. 18.In fixed-interest securities issued in a relevant state by any...

        24. 19.In fixed-interest or variable interest securities issued in a relevant...

        25. 20.In fixed-interest or variable interest securities issued in a relevant...

        26. 21.In debentures issued in any relevant state by a company...

        27. 22.In loans to any authority to which this paragraph applies...

        28. 23.In deposits with a mutual investment society whose head office...

        29. 24.In loans secured on any interest in property in a...

      3. Part III Wider-Range Investments

        1. 1.In any securities issued in the United Kingdom by a...

        2. 2.In shares in a building society within the meaning of...

        3. 2A.In any shares in an open-ended investment company within the...

        4. 3.In any units of an authorised unit trust scheme ....

        5. 4.In any securities issued in any relevant state by a...

        6. 5.In shares in a mutual investment society whose head office...

        7. 6.In any units of a recognised scheme which does not...

      4. Part IV Supplemental

        1. 1.The securities mentioned in Parts I to III of this...

        2. 2.The securities mentioned in paragraphs 1 to 8 of Part...

        3. 2A.The securities mentioned in paragraphs 16 to 21 of Part...

        4. 3.The securities mentioned in paragraph 6 and 21 of Part...

        5. 3A.. . . . . . . . . ....

        6. 4.In this Schedule, unless the context otherwise requires, the following...

        7. 4A.In this Schedule— “authorised unit trust scheme” and “recognised scheme”...

        8. 5.It is hereby declared that in this Schedule “mortgage”, in...

        9. 6.In relation to the United Kingdom, references in this Schedule...

        10. 6A.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        11. 7.. . . . . . . . . ....

    2. SECOND SCHEDULE

      Modification of s. 2 in relation to property falling within s. 3(3)

      1. 1.In this Schedule “ special-range property ” means property falling...

      2. 2.(1) Where a trust fund includes special-range property, subsection (1)...

      3. 3.Where property carried to such a separate part as aforesaid...

    3. THIRD SCHEDULE

      Provisions Supplementary to s. 3(4)

      1. 1.Where in a case falling within subsection (4) of section...

      2. 2.Section four of the Trustee Act, 1925, or section thirty-three...

    4. FOURTH SCHEDULE

      Minor and Consequential Amendments

      1. 1.(1) References in the Trustee Act, 1925, except in subsection...

      2. 2.. . . . . . . . . ....

      3. 3.The following enactments and instruments, that is to say—

      4. 4, 5.. . . . . . . . . ....

      5. 6.For the reference in subsection (2) of section one of...

    5. FIFTH SCHEDULE

      . . .

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