26Public Trustee may buy in, &c.

26 Public Trustee may buy in, &c. (1) Where the Public Trustee exercises on behalf of a common fund a power of sale under a mortgage, he or she may, if he or she considers it expedient to do so, buy in, purchase or otherwise acquire the land or other property affected by the mortgage. (2) Subject to the direction of the Investment Board, the Public Trustee may expend or acquire money from a common fund to exercise the powers under subsection (1). (3) Land or other property bought in, purchased or otherwise acquired under this section may be managed, stocked, cultivated, leased, exchanged, sold or otherwise disposed of by the Public Trustee subject to the direction of the Investment Board. (4) Any land held under this section shall constitute an investment of the common fund from which the money to acquire the land was expended or acquired.