8Matters to which trustee shall have regard in exercising power

8 Matters to which trustee shall have regard in exercising power of investment (1) Without limiting the matters that a trustee may take into account when exercising a power of investment, a trustee shall, so far as they are appropriate to the circumstances of the trust, have regard to: (a) the purposes of the trust and the needs and circumstances of the beneficiaries; (b) the desirability of diversifying trust investments; (c) the nature of and risk associated with existing trust investments and other trust property; (d) the need to maintain the real value of the capital or income of the trust; (e) the risk of capital or income loss or depreciation; (f) the potential for capital appreciation; Proclamation in the Government Gazette 4 (g) the likely income return and the timing of income return; (h) the length of the term of the proposed investment; (j) the probable duration of the trust; (k) the liquidity and marketability of the proposed investment during, and on the determination of, the term of the proposed investment; (m) the aggregate value of the trust estate; (n) the effect of the proposed investment in relation to the tax liability of the trust; (p) the likelihood of inflation affecting the value of the proposed investment or other trust property; (q) the cost (including commissions, fees, charges and duties payable) of making the proposed investment; and (r) the results of a review of existing trust investments. (2) A trustee may: (a) obtain and consider independent and impartial advice reasonably required for the investment of trust funds or the management of the investment from a person whom the trustee reasonably believes to be competent to give the advice; and (b) pay out of trust funds the reasonable costs of obtaining the advice.