<%@LANGUAGE="VBSCRIPT"%>
<%
option explicit
%>
<%
dim rsArticles, sSQL, gStr
set rsArticles = server.createobject("adodb.recordset")
rsArticles.cursorlocation = 3
sSQL = sSQL & "SELECT TOP 10 Articles.Article_ID, Articles.Article_Title, Articles.Article_Excerpt, "
sSQL = sSQL & "Articles.Article_Content, Articles.Article_Posted, Articles.Article_Comments, "
sSQL = sSQL & "Articles.Article_Images, Categories.Category_ID, Categories.Category_Title, Users.User_ID, "
sSQL = sSQL & "Users.User_Name FROM FB_Users AS Users INNER JOIN (FB_Categories AS Categories "
sSQL = sSQL & "INNER JOIN FB_Articles AS Articles ON Categories.Category_ID = Articles.Article_Category_ID) "
sSQL = sSQL & "ON Users.User_ID = Articles.Article_User_ID WHERE Article_Status = 1 AND Article_Level = 0 "
sSQL = sSQL & "ORDER BY Article_Posted DESC;"
rsArticles.open sSQL, adoConn
Do While Not rsArticles.EOF
gStr = gStr & "
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rsArticles.MoveNext
Loop
%>
<%=gStr%>
Trustee Act 2000
Came into force on 1 st February 2001 and applies to England and Wales only. This act sets out some duties and powers for trustees.
Trustees have a duty of care and skill as is reasonable in the circumstances having regard in particular to:
- Any special knowledge that they have or hold themselves out as having,
- If acting as a trustee in the courts as a business or profession, then the level of knowledge or experience you would expect a person of that person to have.
This duty applies to areas such as investments, acquiring land, appointing agents subject always to any thing contrary in the trust wording.
Trustees are by the act allowed to invest anywhere as if they were absolutely entitled to the property themselves. This replaces the previous requirement under the Trustee Investment Act 1961 which required them to use approved investments only. This older act still applies in Scotland.
Trustees must have regard to standard investment criteria and must from time to time review the investments to see if they meet that criterion.
Standard investment criteria are,
- Suitability to the trust,
- Diversification as far as is appropriate.
Before exercising any power of investment trustees must obtain and consider proper advice. The same must be done on reviews. If the trustees can reasonably conclude that such advice is inappropriate or unnecessary then they do not need to obtain it. They must use a proper person for such advice. A proper person is someone they reasonably believe would hold such knowledge to be able give such advice. This general power exists for all existing and new trusts.
Trustees can acquire land in the UK and have absolute powers of ownership over it.
Trustees can ask anyone to act as an agent for them in relation to their delegable functions with the exception of the function of distribution of trust funds. Agents can not be beneficiaries of the trust. An agent can be a fellow trustee. Trustees will not be liable for acts of agents unless they (the trustee) have failed its duty of care.
If a trustee delegates investment functions then they must have a written investment policy for the agent to follow.
Corporation trustees and professional trustees (not a sole trustee) are allowed a reasonable remuneration for their services subject to the agreement of the other trustees. All trustees are allowed to have the trust monies cover their expenses.
Trustees may insure any trust property and pay the premiums out of the trust funds.
The act refers to personal representatives administering a dead person's estate as well as to trustees.
A similar act introduced similar terms to Northern Ireland.