24.3.1 Overview

The general rule as regards trust investments is that if the trust deed gives the trustees wide powers of investment they can invest where they like. This is subject to the trustees satisfying the standard investment criteria – see below. Before 1 February 2001, for those trusts that were silent regarding trustee investment powers, the trustees could only invest in accordance with the restrictive powers of the Trustee Investments Act 1961 (TIA) – which meant, for example, that investment in life assurance policies was not an option. The Trustee Act (TA) 2000 (and equivalent provisions in Scotland and Northern Ireland) changed all of this.

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