Section 43: Delegation by trustees
consolidated text (as at 2012, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
43. Delegation by trustees
(1) A trustee shall not delegate his functions unless permitted to do so
by this Act or by the terms of the trust.
(2) Unless otherwise provided by the terms of the trust, a trustee may—
(a) delegate the management of trust property to, and appoint, investment managers whom the trustee reasonably considers to
be competent and qualified to manage the investment of the
trust property;
(b) appoint accountants, lawyers, bankers, brokers, custodians, investment advisers, nominees, property agents and other professionals to act in relation to any of the affairs of the trust or to
hold any of the trust property; or
(c) authorise any of the persons referred to in paragraphs (a) and (b)
to retain or to receive any commission or other payment usually
payable for such services rendered.
(3) A trustee shall not be liable for any loss to the trust arising from a
delegation or appointment under subsection (2) or from the default of any
such delegate or appointee where the trustee exercised the standard of care
of a reasonable and prudent man of business in—
(a) the selection of the delegate or appointee;
(b) the supervision of the activities of the delegate or appointee.