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S.M. 1995, c. 14
The Trustee Amendment Act
(Assented to November 3, 1995)
HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Manitoba, enacts as follows:
The Trustee Act is amended by this Act.
Section 79 of the French version is amended
(a) by striking out "et d'apporter";
(b) by striking out "le jugement et le soin" and substituting "le jugement et la diligence"; and
(c) by striking out "aurait exercé et apporté" and substituting "aurait exercés".
The following is added after section 79:
Subject to any express provision in the instrument creating the trust, a trustee who uses a non-financial criterion to formulate an investment policy or to make an investment decision does not thereby commit a breach of trust if, in relation to the investment policy or investment decision, the trustee exercises the judgment and care that a person of prudence, discretion and intelligence would exercise in administering the property of others.
This Act comes into force on the day it receives royal assent.