Trustee Act 1956

  • repealed
  • Trustee Act 1956: repealed, on 30 January 2021, by section 162(a) of the Trusts Act 2019 (2019 No 38).
13B Duty of trustee to invest prudently

Subject to sections 13C and 13D, a trustee exercising any power of investment shall exercise the care, diligence, and skill that a prudent person of business would exercise in managing the affairs of others.

Section 13B: inserted, on 1 October 1988, by section 3 of the Trustee Amendment Act 1988 (1988 No 119).