Section 2.

Investment

1 The duty of care applies to a trustee -

(a) when exercising the general power of investment or any other power of investment, however conferred;

(b) when carrying out a duty to which he is subject under section 4 or 5 (duties relating to the exercise of a power of investment or to the review of investments).

Acquisition of land

2 The duty of care applies to a trustee -

(a) when exercising the power under section 8 to acquire land;

(b) when exercising any other power to acquire land, however conferred;

(c) when exercising any power in relation to land acquired under a power mentioned in sub-paragraph (a) or (b).

Agents, nominees and custodians

3

(1) The duty of care applies to a trustee-