Duty to act impartially

(1) Subject to the terms of the trust, where a trust is established for one or more beneficiaries or purposes, whether concurrent or consecutive, a trustee, other than a trustee who is also a beneficiary, shall act impartially as between these beneficiaries and purposes. (2) Subject to the terms of the trust and to the provisions of this Act, any rule of law which requires a trustee to buy, hold or sell certain investments or to apportion the capital or income of the trust fund between beneficiaries is hereby abolished.