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Trustee Act 2000
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7(1)A trustee shall not be liable for breach of trust merely because he continues to hold an investment acquired by virtue of paragraph 14 of Part II of Schedule 1 to the 1961 Act (perpetual rent-charges etc.).E+W
(2)A person who—
(a)is not a trustee,
(b)before the commencement of Part II of this Act had powers to invest in the investments described in paragraph 14 of Part II of Schedule 1 to the 1961 Act, and
(c)on that commencement acquired the general power of investment,
shall not be treated as exceeding his powers of investment merely because he continues to hold an investment acquired by virtue of that paragraph.
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