Part II of the Trustee Act 2000 sets out, as ‘the general power of investment’, a general power to invest trust funds in any manner open to an absolute owner1. For technical reasons, the general power of investment as such does not extend to the acquisition of land (as opposed to charges on land), but Part III of the Act contains a general power to acquire freehold or leasehold land in the United Kingdom as an investment2. The general power of investment is exercisable in addition to any existing investment power, and applies to all trusts whether created
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