Section 3 Discretion of trustees.
England and Wales
Every power conferred by the preceding sections shall be exercised according to the discretion of the trustee, but subject to any consent or direction required by the instrument, if any, creating the trust or by statute with respect to the investment of the trust funds.
Notes on Part I
Textual amendments
- F1
Pt. I (ss. 1-11) repealed (1.2.2001) by 2000 c. 29, s. 40(1)(3), Sch. 2 Pt. II para. 18, Sch. 4 Pt. II (with s. 35, Sch. 3 paras. 2, 3); S.I. 2001/49, art. 2