8Matters to which trustee may have regard

8 Matters to which trustee may have regard

[Section 8 Amended by 25 Geo. V No. 78 ][Section 8 Substituted by No. 64 of 1997, s. 4, Applied:01 Apr 1998]

(1)  Without limiting the matters that a trustee may take into account when exercising a power of investment, a trustee, so far as is appropriate to the provisions of the trust, may have regard to any one or more of the following:

(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 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 loss or depreciation;

(f) the potential for capital appreciation;

(g) the likely income and the timing of the income return;

(h) the length of the term of the proposed investment;

(i) the probable duration of the trust;

(j) the liquidity and marketability of the proposed investment during, and on the determination of, the term of the proposed investment;

(k) the aggregate value of the trust estate;

(l) the effect of the proposed investment in relation to the tax liability of the trust;

(m) the likelihood of inflation affecting the value of the proposed investment or other trust property;

(n) the costs, including any commission, fee, charge or duty payable, of making the proposed investment;

(o) the results of a review of any 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 that advice; and