Except where the trust deed specifically provides otherwise, the powers and duties of trustees are subject to the provisions of the Trustee Investments Act 1961. Full details of its requirements are set out in a leaflet available from the Charity Commission. Broadly, the act allows trustees to invest a proportion of their funds in the stocks and shares of certain qualifying companies incorporated in the United Kingdom, and also in certain authorised unit or investment trusts. When making any such investment the trustees must obtain written advice from a person whom they believe to be qualified by ability and experience to give such advice.
Next: 15.07
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