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Trustee Act 2000

  • Explanatory Notes Table of contents

Please note:

All reference to 'Parts' and 'sections' are from the Trustee Act 2000. For other versions of these Explanatory Notes, see More Resources.

  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

  • Explanatory Notes Table of contents

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Explanatory Notes

Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.

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