Bailey project would have been incurred in breach of trust, had the money been spent by the bank itself. The fact that it was a risk acceptable to the board of a wealthy company like Stock Conversion has little relevance. I turn to the question, what was the duty of the bank as the holder of shares in BTL and BTH? I will first answer this question without regard to the position of the bank as a specialist trustee, to which I will advert later. The bank, as trustee, was bound to act in relation to the shares and to the controlling position which they conferred, in the same manner as a prudent man of business. The prudent man of business will act in such manner as is necessary to safeguard his investment. He will do this in two ways. If facts come to his knowledge which tell him that the company's affairs are not being conducted as they should be, or which put him on inquiry, he will take appropriate action. Appropriate action will no doubt consist in the first instance of inquiry of and consultation with the directors, and in the last but most unlikely resort, the convening of a general meeting to replace one or more directors. What the prudent man of business will not do is to content himself with the receipt of such information on the affairs of the company as a shareholder ordinarily receives at annual general meetings. Since he has the power to do so, he will go further and see that he has sufficient information to enable him to make a responsible decision from time to time either to let matters proceed as they are proceeding, or to intervene if he is dissatisfied. This topic was considered by Cross J. in In re Lucking's Will Trusts''' [1968] 1 W.L.R. 866 , more fully reported in [1967] 3 All E.R. 726 . In that case nearly 70 per cent. of the shares in the company were held by two trustees, L and B, as part of the estate of a deceased; about 29 per cent. belonged to L in his own right, and 1 per cent. belonged to L's wife. The directors in 1954 were Mr. and Mrs. L and D, who was the manager of the business. In 1956 B was appointed trustee to act jointly with L. The company was engaged