Delegation lets trustees draw on outside expertise, but the statute polices it closely, and getting it wrong can leave trustees personally exposed. This chapter starts with the basic power to appoint agents under the Trustee Act 2000 and the line between delegable functions and the four categories trustees must keep for themselves, including decisions about distributions to beneficiaries. It then works through the four requirements for valid delegation of asset management — the written agreement, the policy statement and the compliance term — before turning to the statutory duty of care at selection and on review, and when trustees are liable for an agent's acts or defaults. The closing sections look at the agent's side: the restrictions and fiduciary duty that bind a delegated agent, who can sue a negligent agent, what a beneficiary can do if the trustees will not act, and where any compensation recovered ends up.
