Trusts Act 1973
An Act to consolidate and amend the law relating to trusts, trustees, settled land and charities
Part 1 Preliminary
1 Short title
This Act may be cited as the Trusts Act 1973.
2 [Repealed]
3 [Repealed]
4 Application
(1)Except where otherwise provided, this Act applies to every trust, as defined in section 5, whether constituted or created before or after the commencement of this Act.(2)Nothing in this Act shall preclude a settlor from conferring on a trustee or other person exercising the powers of a trustee under this Act any powers additional to or larger than those conferred by this Act.(3)Any additional or larger powers so conferred shall, as far as may be, notwithstanding anything in this Act, and unless a contrary intention is expressed in the instrument (if any) creating the trust, operate and be exercisable in the like manner and with all the like incidents effects and consequences as if conferred by this Act.(4)The powers conferred by or under this Act on a trustee are in addition to the powers given by any other Act and by the instrument (if any) creating the trust; but the powers conferred on the trustee by this Act, unless otherwise provided, apply if and so far only as a contrary intention is not expressed in the instrument (if any) creating the trust, and have effect subject to the terms of that instrument.(5)Except where otherwise provided by this Act, this Act does not affect the legality or validity of anything done before the commencement of this Act.(6)This Act binds the Crown not only in right of the State but also, so far as the legislative power of Parliament permits, the Crown in all its other capacities.
5 Definitions
In this Act—
apart from this Act, when used in relation to land of which there is no trustee, does not include the public trustee, or a trustee appointed pursuant to section 12 or 80, or in whom the trust property is vested pursuant to section 16 or 90.approved form see section 118.authorised investments means investments of trust funds that are—(a)authorised by the instrument creating the trust; or(b)made by the trustee exercising a power of investment under part 3 or under an order under section 94; or(c)authorised by another Act or the general law.bank ...bank and savings bank ...bankrupt includes insolvent.benefit, in relation to any person, includes insurance on the life of that person.commencement of this Act means the time when this Act (other than sections 94, 95, 98 and 99) came or comes into operation.contingent right, in relation to land, includes a contingent or executory interest and a possibility coupled with an interest, whether the object of the gift or limitation of the interest or possibility is or is not ascertained; and also a right of entry, whether immediate or future, and whether…