Trusts Act 2025
sec.72Advice for particular investment purposes
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sec.72 Advice for particular investment purposes
A trustee may obtain independent and impartial advice, from a person the trustee reasonably believes is competent to give the advice, if the advice is reasonably required for— the investment of trust funds; or the management of the trust investments. If the trustee obtains advice under subsection (1) , the trustee— must consider the advice; and may pay, out of the trust funds, the reasonable costs of obtaining the advice. (sec.72-ssec.1) A trustee may obtain independent and impartial advice, from a person the trustee reasonably believes is competent to give the advice, if the advice is reasonably required for— the investment of trust funds; or the management of the trust investments. (sec.72-ssec.2) If the trustee obtains advice under subsection (1) , the trustee— must consider the advice; and may pay, out of the trust funds, the reasonable costs of obtaining the advice.
- (a) the investment of trust funds; or
- (b) the management of the trust investments.
- (a) must consider the advice; and
- (b) may pay, out of the trust funds, the reasonable costs of obtaining the advice.