non-discretionary trust
- A trust where the trustee does not have personal decision-making power and is specifically directed to invest only in named securities and diversify these investments among certain types of securities
- In a non-discretionary trust, the trustee was instructed to focus entirely on the specified securities for the investment.
- The terms of the non-discretionary trust narrowed down the investment options to certain securities.
- As per the clauses of the non-discretionary trust, the trustee had no flexibility in choice of securities for investment.
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