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What is Benami Transaction?
Difference between Public Trust and a Private Trust
East India Housing & Land Development Trust Ltd. v. C.I.T.,West Bengal, 1961
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The Trustee Investments Act 1961 was an Act of the Parliament of the United Kingdom that covers where trustees can invest trust funds. Given the royal assent on 3 August 1961, it removed the "Statutory Lists" system and replaced it with sets of specific investment areas. The Act was heavily criticised for the way it set these areas out, particularly the requirement that trusts trying to invest in multiple areas would need to be permanently divided. A 1997 Law Commission paper called its terms "overly cautious and restrictive", suggesting that some trusts were underperforming as a result. The passing of the Trustee Act 2000 effectively nullified the 1961 Act's terms in relation to trustee investment, and the 2000 Act is now the principal piece of legislation in this area.
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