Search Legislation

Trustee Investments Act 1961

Changes to legislation:

There are currently no known outstanding effects for the Trustee Investments Act 1961. Help about Changes to Legislation

Close

Changes to Legislation

Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.

  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

      . . .

Back to top

Options/Help

Print Options

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made):The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources