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2179789
Investment and Delegation
Description
Mind Map on Investment and Delegation, created by Lauren Kegg on 03/03/2015.
Mind Map by
Lauren Kegg
, updated more than 1 year ago
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Created by
Lauren Kegg
about 9 years ago
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Resource summary
Investment and Delegation
1.Source of trustee's powers
Trust instrument
TRUSTEE ACT 2000
Case law
2. Trustee overarching duties
Primary fiduciary duty to beneficiaries
Act in good faith
BRISTOL & WEST BUILDING SOCIETY V MOTTHEW
Do not allow personal interests to conflict their duty
BRAY V FORD
Not derive personal benefit from being trustee
3. Core Duties in investment
Bring trust fund under their control and possession
RE FLOWER
Act prudently
SPEIGHT v GAUNT, LEAROYD V WHITELY
Act even-handedly between beneficiaries
LLOYDS BANK V DUKER
Act in best interests of beneficiaries at all times
COWAN V SCARGILL
Manage a controlling interest
RE LUCKING
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