7Duty of trustee

### 7 Duty of trustee > *\[Section 7 Amended by 25 Geo. V No. 78 \]*[*\[Section 7 Substituted by No. 64 of 1997, s. 4, Applied:01 Apr 1998\]*](/view/html/inforce/1998-04-01/act-1997-064#GS4@EN) > > > (1)  Subject to any provision to the contrary in an instrument creating a trust, a trustee, in exercising a power of investment – > > > > > > (a) if the trustee's profession, business or employment is or includes acting as a trustee or investing money on behalf of other persons, must exercise the care, diligence and skill that a prudent person engaged in that profession, business or employment would exercise in managing the affairs of another person; or > > > > > > > (b) if the trustee is not engaged in such a profession, business or employment, must exercise the care, diligence and skill that a prudent person of business would exercise in managing the affairs of another person. > > > (2)  A trustee, in exercising a power of investment, must comply with any provision of the instrument creating the trust that is binding on the trustee and requires the obtaining of a consent or an approval or a compliance with any direction with respect to trust investments. > > > (3)  Subject to the instrument creating the trust, a trustee must, at least once in each year, review the performance, individually and as a whole, of the trust investments.