| 释义 |
general power of investment
A power, introduced by the Trustee Act 2000, that allows a trustee to make any kind of investment that he could make if he were absolutely entitled to the assets of the trust fund. Previously, trustees were only permitted to make certain authorized investments. This much wider general power of investment may be expressly excluded in the trust instrument. There are still some restrictions on investments in land. In exercising the general power of investment, the trustees are required by the Act to consider criteria relating to the suitability of the proposed investment to the trust and the need for diversification of investment within the unique circumstances of the trust. Trustees are also required by the Act to review the investments from time to time with the same standard criteria in mind. Before investing, the trustee must obtain and consider proper advice, unless he reasonably considers it unnecessary or inappropriate to do so. |