ABSTRACT
This chapter examines the trustee's duty not to make a profit from the trust and this forms an integral part of any discussion of trustee's duties. The questions considered in the chapter cover several areas: the trustee's duty not to delegate any of his essential responsibilities under the trust; the appointment and removal of trustees; the trustee's power of maintenance and advancement; the trustee's power of investment; and, the variation of trusts. Trustee's powers may be either expressly included in the trust instrument or implied under ss 31 and 32 of the Trustee Act 1925. The Variation of Trusts Act 1958 also allows changes to be made to both the administrative powers of trustees and the beneficial interests of the equitable owners, although the court's jurisdiction under this statute is of a general and wide-ranging nature and was entirely novel.
