50EInvestment in group investment fund deemed to be authorized trustee investment

50E Investment in group investment fund deemed to be authorized trustee investment

*[Section 50E Inserted by No. 3 of 1987, s. 7 ]*An investment made by the Public Trustee in a group investment fund, including, in particular –

(a) the investment of money in that fund in exercise of the power conferred by section 12 (3) or 39 (2) ; and

(b) the giving to an estate of credit in that fund for the fair market value of an investment transferred to that fund from that estate under section 50A (4) or from another group investment fund under section 50A (6) –

shall be taken, for the purposes of any law or of any order of a court, to be an investment authorized by section 5 of the Trustee Act 1898 .