Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Administration definition

What does Administration mean? Administration is a corporate insolvency procedure used to protect and stabilise a financially distressed company while an independent insolvency practitioner (the administrator) takes control to pursue rescue or a better return to creditors than liquidation. It is a statutory process in England and Wales and Scotland under the Insolvency Act 1986, Schedule B1, and in Northern Ireland under the Insolvency (Northern Ireland) Order 1989, Schedule B1. Key features include an immediate moratorium on most creditor enforcement, displacement of the directors’ management powers, and appointment either by court order or out of court by the company, its directors or...

Trust investment strategy and governance: trustee powers, duties, advice, delegation, investment policy statements, monitoring and liability under the Trustee Acts 1925 and 2000

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Practice notes

Powers to invest

Trustees’ authority to run a trust is grounded in statute—chiefly the Trustee Act 1925 and the Trustee Act 2000 (TrA 2000)—and is augmented by the trust instrument’s terms. It is common for trust deeds to confer express, extended investment powers, giving trustees greater freedom over how funds are invested and, historically, to bypass the onerous administrative rules of the Trustee investments Act 1961 (substantially repealed by TrA 2000). The statutory investment powers are contained in TrA 2000, s 3 (widely referred to as the general power of investment) and operate in addition to any powers granted by the trust instrument, but remain subject to any restriction or exclusion the instrument imposes (TrA 2000, s 6). The general power of investment applies to trusts and Will trusts created both before and after TrA 2000 commenced. Its reach is very broad; a trustee may purchase ‘any kind of investment that he could make if he were absolutely entitled to the assets of the trust’. These statutory powers sit alongside, rather than replace, any express authority, save where the instrument restricts or excludes them...

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Web page updated on 22/05/2026

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