9Law and equity preserved

### 9 Law and equity preserved > *\[Section 9 Amended by No. 55 of 1965, s. 5 \]*[*\[Section 9 Substituted by No. 64 of 1997, s. 4, Applied:01 Apr 1998\]*](/view/html/inforce/1998-04-01/act-1997-064#GS4@EN) > > > (1)  Any rule or principle of law or equity that imposes a duty on a trustee exercising a power of investment including, without limiting the generality of those duties, rules and principles that impose – > > > > > > (a) a duty to exercise the powers of a trustee in the best interests of all present and future beneficiaries of the trust; or > > > > > > > (b) a duty to act impartially towards beneficiaries and between different classes of beneficiaries; or > > > > > > > (c) a duty to take advice; or > > > > > > > (d) a duty to invest trust funds in investments that are not speculative or hazardous – > > > > continues to apply except so far as it is inconsistent with this or any other Act, or the instrument creating the trust. > > > (2)  Any rule or principle of law or equity that relates to a provision in an instrument creating a trust that purports to exempt, limit the liability of, or indemnify a trustee in respect of a breach of trust, continues to apply. > > > (3)  If a trustee has a duty to take advice relating to the administration of a trust, the reasonable costs of obtaining the advice are payable out of trust funds.