sec.80Court may take into account investment strategy etc. in proceeding for breach of trust

sec.80 Court may take into account investment strategy etc. in proceeding for breach of trust

This section applies in relation to a proceeding against a trustee for a breach of trust in relation to the exercise of an investment power. The court may, in considering the question of the trustee’s liability, take the following matters into account— the nature and purpose of the trust; the amount of the trust funds invested in the exercise of the investment power; whether the trustee had regard to the matters mentioned in section 71 to the extent they were appropriate to the circumstances of the trust; whether the trust investments have been made under an investment strategy formulated in accordance with the duty of a trustee under this part; the extent to which the trustee acted on advice that the trustee reasonably believed— was given by a person who was independent and competent to give the advice; and was impartial. (sec.80-ssec.1) This section applies in relation to a proceeding against a trustee for a breach of trust in relation to the exercise of an investment power. (sec.80-ssec.2) The court may, in considering the question of the trustee’s liability, take the following matters into account— the nature and purpose of the trust; the amount of the trust funds invested in the exercise of the investment power; whether the trustee had regard to the matters mentioned in section 71 to the extent they were appropriate to the circumstances of the trust; whether the trust investments have been made under an investment strategy formulated in accordance with the duty of a trustee under this part; the extent to which the trustee acted on advice that the trustee reasonably believed— was given by a person who was independent and competent to give the advice; and was impartial.

• (a) the nature and purpose of the trust;
• (b) the amount of the trust funds invested in the exercise of the investment power;
• (c) whether the trustee had regard to the matters mentioned in section 71 to the extent they were appropriate to the circumstances of the trust;
• (d) whether the trust investments have been made under an investment strategy formulated in accordance with the duty of a trustee under this part;
• (e) the extent to which the trustee acted on advice that the trustee reasonably believed— (i) was given by a person who was independent and competent to give the advice; and (ii) was impartial.
• (i) was given by a person who was independent and competent to give the advice; and
• (ii) was impartial.
• (i) was given by a person who was independent and competent to give the advice; and
• (ii) was impartial.