sec.68Duty of particular trustees who are not professional investors

sec.68 Duty of particular trustees who are not professional investors

This section applies to a trustee if— the trustee is not a professional investor; but the trustee has, or holds themself out as having, special knowledge or experience in investing money for other persons. The trustee has a duty, in exercising an investment power, to exercise the care, diligence and skill that a prudent person having that special knowledge or experience would exercise in managing the affairs of other persons. This section applies subject to a contrary intention in the trust instrument. See also part 5 , division 2 in relation to a trustee’s general duty in administering a trust. (sec.68-ssec.1) This section applies to a trustee if— the trustee is not a professional investor; but the trustee has, or holds themself out as having, special knowledge or experience in investing money for other persons. (sec.68-ssec.2) The trustee has a duty, in exercising an investment power, to exercise the care, diligence and skill that a prudent person having that special knowledge or experience would exercise in managing the affairs of other persons. (sec.68-ssec.3) This section applies subject to a contrary intention in the trust instrument.

• (a) the trustee is not a professional investor; but
• (b) the trustee has, or holds themself out as having, special knowledge or experience in investing money for other persons.