general power of investment


general power of investment
A power, introduced by the Trustee Act (2000), that allows trustees to make any kind of investment that they could make if they 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 to review the investments from time to time with the same criteria in mind.

Big dictionary of business and management. 2014.

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