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诺丁汉论文代写:法定义务
2017-04-20 01:57

诺丁汉论文代写:法定义务
The Trustee Act subjects trustees to a statutory duty of care, which is applicable when the trustee is exercising the general power of investment; of any other powers of investment, however conferred; or when carrying out his statutory duties in relation to the exercise of a power of investment or to the review of investments. So the duty of care is basically all encompassing when considering the powers and duties of a trustee.Whilst the statutory duty of care applies to the manner of the exercise of a discretionary power, it does not apply to the initial decision of the trustees whether or not to exercise that power.The duty of care requires a trustee to exercise such care and skill as is reasonable in the circumstances, having regard in particular to any special knowledge or experience that he has or holds himself out as having, and (if he acts as a trustee in the course of a business or profession), to any special knowledge or experience that it is reasonable to expect of such a person (Trustee Act 2000 s.1(1)). This latter duty on the professional trustee gives statutory force to a distinction that had been developed in the common law by the courts. That distinction which has developed through case law was the different and higher standard of care owed by a professional trustee (such as a bank) as against a lower standard owed by a lay or unpaid trustee.
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