This does little more than restate what is given in the Trustee Investments Act 1961, however, and this provision has been criticised for not defining "suitable".
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This is far looser than the previous provisions, which were contained in the Trustee Investments Act 1961.
The ability of the courts to alter trustees' investment powers under the Act was criticised as slow and expensive, and as a result this is now covered by the Trustee Investments Act 1961.
Act of Parliament | Act | Statute Law Revision Act 1948 | 1961 | Statute Law Revision Act 1888 | Act of Congress | Reform Act 1832 | Patient Protection and Affordable Care Act | Endangered Species Act | Digital Millennium Copyright Act | Clean Water Act | American Recovery and Reinvestment Act of 2009 | 1961 in music | 1961 in baseball | National School Lunch Act | Statute Law Revision Act 1863 | Criminal Justice Act 1988 | Local Government Act 1972 | Americans with Disabilities Act of 1990 | Racketeer Influenced and Corrupt Organizations Act | Communications Act 2003 | Statute Law Revision Act 1887 | Consumer Credit Act 1974 | ACT | Stamp Act | Official Secrets Act 1989 | National Firearms Act | act | Statute Law Revision Act 1867 | Trustee |