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Author: Great Britain. Parliament. House of Lords
Publisher:
ISBN: 9780108395550
Category :
Languages : en
Pages : 28
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Book Description
The Bill will implement the changes in the law of England and Wales recommended in the report by the Law Commission and the Scottish Law Commission, Trustee's Powers and Duties, 1999. The principal change will be the creation of a new wider statutory power of investment to replace the present limited power under the Trustee Investment Act 1961. A range of new powers to appoint agents, nominees and custodians; to insure trust property; and to pay professional trustees, are intended to facilitate the better administration of trusts and to enable trustees to take full advantage of the wider investment opportunities now open to them, whilst protecting the interests of beneficiaries against abuse. As under the present law, the new powers will only apply to the extent that the trust instrument permits.
![Trustee Bill [H.L.] PDF](https://books.google.com/books/content/images/frontcover/tA_RzQEACAAJ?fife=w80-h100)
Author: Great Britain. Parliament. House of Lords
Publisher:
ISBN: 9780108395550
Category :
Languages : en
Pages : 28
Get Book Here
Book Description
The Bill will implement the changes in the law of England and Wales recommended in the report by the Law Commission and the Scottish Law Commission, Trustee's Powers and Duties, 1999. The principal change will be the creation of a new wider statutory power of investment to replace the present limited power under the Trustee Investment Act 1961. A range of new powers to appoint agents, nominees and custodians; to insure trust property; and to pay professional trustees, are intended to facilitate the better administration of trusts and to enable trustees to take full advantage of the wider investment opportunities now open to them, whilst protecting the interests of beneficiaries against abuse. As under the present law, the new powers will only apply to the extent that the trust instrument permits.
