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Trustee Act 2000

2000 c. 29 · Enacted 23 November 2000 · Extends to United Kingdom

Not fully up to date. 1 change made by later legislation has not yet been written into this text, which is revised to 19 May 2025.

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ProvisionChangeMade by
Sch. 2 para. 34repealedHorserace Betting and Olympic Lottery Act 2004 Sch. 6
An Act to amend the law relating to trustees and persons having the investment powers of trustees; and for connected purposes.[23rd November 2000]

Be it enacted by the Queen’s most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—C1C2

Annotations to the whole text

Modifications

C1

Act power to apply conferred (26.11.2008) by Pensions Act 2008 (c. 30), ss. 68(2), 149(2)

C2

Act applied (5.7.2010) by The National Employment Savings Trust Order 2010 (S.I. 2010/917), arts. 1(3), 16

Contents

  1. Part I: The Duty of Care
  2. 1The duty of care.
  3. 2Application of duty of care.
  4. Part II: Investment
  5. 3General power of investment.
  6. 4Standard investment criteria.
  7. 5Advice.
  8. 6Restriction or exclusion of this Part etc.
  9. 7Existing trusts.
  10. Part III: Acquisition of Land
  11. 8Power to acquire freehold and leasehold land.
  12. 9Restriction or exclusion of this Part etc.
  13. 10Existing trusts.
  14. Part IV: Agents, nominees and custodians
  15. Agents
  16. 11Power to employ agents.
  17. 12Persons who may act as agents.
  18. 13Linked functions etc.
  19. 14Terms of agency.
  20. 15Asset management: special restrictions.
  21. Nominees and custodians
  22. 16Power to appoint nominees.
  23. 17Power to appoint custodians.
  24. 18Investment in bearer securities.
  25. 19Persons who may be appointed as nominees or custodians.
  26. 20Terms of appointment of nominees and custodians.
  27. Review of and liability for agents, nominees and custodians etc.
  28. 21Application of sections 22 and 23.
  29. 22Review of agents, nominees and custodians etc.
  30. 23Liability for agents, nominees and custodians etc.
  31. Supplementary
  32. 24Effect of trustees exceeding their powers.
  33. 25Sole trustees.
  34. 26Restriction or exclusion of this Part etc.
  35. 27Existing trusts.
  36. Part V: Remuneration
  37. 28Trustee’s entitlement to payment under trust instrument.
  38. 29Remuneration of certain trustees.
  39. 30Remuneration of trustees of charitable trusts.
  40. 31Trustees’ expenses.
  41. 32Remuneration and expenses of agents, nominees and custodians.
  42. 33Application.
  43. Part VI: Miscellaneous and Supplementary
  44. 34Power to insure.
  45. 35Personal representatives.
  46. 36Pension schemes.
  47. 37Authorised unit trusts.
  48. 38Common investment schemes for charities etc.
  49. 39Interpretation.
  50. 40Minor and consequential amendments etc.
  51. 41Power to amend other Acts.
  52. 42Commencement and extent.
  53. 43Short title.
  54. Schedule 1: Application of duty of care
  55. Investment
  56. 1Paragraph 1
  57. Acquisition of land
  58. 2Paragraph 2
  59. Agents, nominees and custodians
  60. 3Paragraph 3
  61. Compounding of liabilities
  62. 4Paragraph 4
  63. Insurance
  64. 5Paragraph 5
  65. Reversionary interests, valuations and audit
  66. 6Paragraph 6
  67. Exclusion of duty of care
  68. 7Paragraph 7
  69. Schedule 2: Minor and consequential amendments
  70. Part I: The Trustee Investments Act 1961 and the Charities Act 1993
  71. The Trustee Investments Act 1961 (c.62)
  72. 1Paragraph 1
  73. The Charities Act 1993 (c.10)
  74. 2Paragraph 2
  75. Part II: Other Public General Acts
  76. The Places of Worship Sites Act 1873 (c.50)
  77. 3Paragraph 3
  78. The Technical and Industrial Institutions Act 1892 (c.29)
  79. 4Paragraph 4
  80. The Duchy of Cornwall Management Act 1893 (c.20)
  81. 5Paragraph 5
  82. The Duchy of Lancaster Act 1920 (c.51)
  83. 6Paragraph 6
  84. The Settled Land Act 1925 (c.18)
  85. 7Paragraph 7
  86. 8Paragraph 8
  87. 9Paragraph 9
  88. 10Paragraph 10
  89. 11Paragraph 11
  90. 12Paragraph 12
  91. 13Paragraph 13
  92. 14Paragraph 14
  93. 15Paragraph 15
  94. 16Paragraph 16
  95. 17Paragraph 17
  96. The Trustee Act 1925 (c.19)
  97. 18Paragraph 18
  98. 19Paragraph 19
  99. 20Paragraph 20
  100. 21Paragraph 21
  101. 22Paragraph 22
  102. 23Paragraph 23
  103. 24Paragraph 24
  104. 25Paragraph 25
  105. The Land Registration Act 1925 (c.21)
  106. 26Paragraph 26 Repealed
  107. The Administration of Estates Act 1925 (c.23)
  108. 27Paragraph 27
  109. 28Paragraph 28
  110. ...
  111. 29Paragraph 29 Repealed
  112. The Regimental Charitable Funds Act 1935 (c.11)
  113. 30Paragraph 30
  114. The Agricultural Marketing Act 1958 (c.47)
  115. 31Paragraph 31
  116. The Horticulture Act 1960 (c.22)
  117. 32Paragraph 32
  118. The House of Commons Members’ Fund Act 1962 (c.53)
  119. 33Paragraph 33
  120. The Betting, Gaming and Lotteries Act 1963 (c.2)
  121. 34Paragraph 34
  122. The Cereals Marketing Act 1965 (c.14)
  123. 35Paragraph 35 Repealed
  124. The Agriculture Act 1967 (c.22)
  125. 36Paragraph 36 Repealed
  126. The Solicitors Act 1974 (c.47)
  127. 37Paragraph 37 Repealed
  128. The Policyholders Protection Act 1975 (c.75)
  129. 38Paragraph 38
  130. The National Heritage Act 1980 (c.17)
  131. 39Paragraph 39
  132. The Licensing (Alcohol Education and Research) Act 1981 (c.28)
  133. 40Paragraph 40 Repealed
  134. The Fisheries Act 1981 (c.29)
  135. 41Paragraph 41
  136. The Duchy of Cornwall Management Act 1982 (c.47)
  137. 42Paragraph 42
  138. 43Paragraph 43
  139. The Administration of Justice Act 1982 (c.53)
  140. 44Paragraph 44
  141. The Trusts of Land and Appointment of Trustees Act 1996 (c.47)
  142. 45Paragraph 45
  143. 46Paragraph 46
  144. 47Paragraph 47
  145. 48Paragraph 48
  146. 49Paragraph 49
  147. Part III: Measures
  148. The Ecclesiastical Dilapidations Measure 1923 (No.3)
  149. 50Paragraph 50
  150. The Diocesan Stipends Funds Measure 1953 (No.2)
  151. 51Paragraph 51
  152. The Church Funds Investment Measure 1958 (No.1)
  153. 52Paragraph 52
  154. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
  155. 53Paragraph 53 Repealed
  156. The Repair of Benefice Buildings Measure 1972 (No.2)
  157. 54Paragraph 54
  158. The Pastoral Measure 1983 (No.1)
  159. 55Paragraph 55
  160. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
  161. 56Paragraph 56 Repealed
  162. The Cathedrals Measure 1999 (No.1)
  163. 57Paragraph 57
  164. Schedule 3: Transitional provisions and savings
  165. The Trustee Act 1925 (c.19)
  166. 1Paragraph 1
  167. 2Paragraph 2
  168. 3Paragraph 3
  169. 4Paragraph 4
  170. 5Paragraph 5
  171. 6Paragraph 6
  172. The Trustee Investments Act 1961 (c.62)
  173. 7Paragraph 7
  174. The Cathedrals Measure 1963 (No.2)
  175. 8Paragraph 8
  176. Schedule 4: Repeals
  177. IThe Trustee Investments Act 1961 and the Charities Act 1993
  178. IIOther repeals