12DCourt may take into account investment strategy

12D Court may take into account investment strategy

[Section 12D Inserted by No. 64 of 1997, s. 4, Applied:01 Apr 1998] If a trustee has been charged with a breach of trust in respect of a duty under this Part relating to the trustee's power of investment, the court, when considering the question of the trustee's liability, may take into account –

(a) the nature and purpose of the trust; and

(b) whether the trustee had regard to the matters set out in section 8 so far as is appropriate to the circumstances of the trust; and

(c) whether the trust investments have been made under an investment strategy formulated in accordance with the duty of a trustee under this Part; and

(d) the extent to which the trustee acted on the independent and impartial advice of a person competent, or apparently competent, to give the advice.