56Investment of money held in common funds

56 Investment of money held in common funds (1) Money in a common fund must be invested by the public trustee and guardian having regard to any advice given by the board. Note The Trustee Act 1925, subdivision 2.2.1 contains provisions about the powers and duties of trustees (including the public trustee and guardian) in relation to investments. (2) Investments made from money in a common fund shall not be made in the name or on account of, or belong to, any particular estate, trust or person. (3) The public trustee and guardian may sell or otherwise convert into money any investments acquired under this section.