Professional Trustees

The duty of a trustee to act personally is necessarily affected by the nature of the trust and the size and nature of the assets. In respect of a trustee that holds out that it possesses particular skill, expertise and ability to provide special care as a trustee and solicits appointment to the at office, a higher standard of care may be imposed, to wit, an obligation to apply the level of skill, expertise and ability represented: Bartlett v Barclays Bank Trust Co Ltd (No.2) [1980] Ch 515 at 534; Australian Securities Commission v AS Nominees (1995) 18 ACSR 459 at 518 (Finn J) {Link}. ; Westpac Banking v The Bell Group Ltd (in Liq) No. 3 [2012] WASCA 158 at [843] {Link}. .

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This tab updated on 31 July 2015