Christian Israelite Church Property Trust Act 2007
11Trust may invest trust funds
Start here
Get a plain-English read of 11
Turn the raw legal text into a practical explanation grounded in Christian Israelite Church Property Trust Act 2007.
11 Trust may invest trust funds
11 Trust may invest trust funds
(1) The Trust:
(a) may invest or lend any funds that it holds on trust in accordance with the terms of any trust to which the funds are subject, and
(b) may also invest or lend any such funds in accordance with the Trustee Act 1925, unless the investment or loan is expressly forbidden by the instrument (if any) creating the trust to which the funds are subject.
(2) The Trust may invest trust funds held by it for different purposes or activities, or any part of those funds, as one fund.
(3) Income arising from an investment of funds in accordance with subsection (2) is to be apportioned rateably among the several purposes or activities for which the funds are held on trust.
(4) Any loss arising from an investment of funds in accordance with subsection (2) is to be apportioned rateably among the several purposes or activities for which the funds are held on trust.