$3.$ The trustees of the substantial funds of the Bahamas Jumping up$-$and$-$down Christian Church are given by the trust instrument a power to invest in any investments they see fit, subject only $$to their legal duty of prudent investment$.$ For $15$ years they have left half the funds in a building society account, earning a low rate of interest. The remainder has been invested in shares of two companies. The share price of one of the companies has recently dropped by $30\%$ in line with a general collapse in the stock market. The trust has a holding of $55\%$ in the second company. The company has recently gone into receivership following the failure of a speculative venture. The trustees had not known about the venture, and generally took no interest in the company$$s activities.

$($a$)$ Advise the trustees whether they have committed a breach of their duty of prudent investment; and

$($b$)$ Consider to what extent, if at all, the trustees are subject to a duty to ensure that trust funds are not invested in $$unchristian business activities$.$

$($c$)$ What limitations are there on trustees$$ powers to delegate his functions as trustee? In what circumstances will he be liable for the defaults of his appointed agents?