57Investment of money not held in common funds

57 Investment of money not held in common funds Where money received by the public trustee and guardian is not, under section 55, required to be paid into a common fund— (a) the money shall belong to and be held in the name of the estate, trust or person on whose behalf the money is received; and (b) the public trustee and guardian must invest the money in accordance with any directions applying to it; and (c) capital or income received in respect of an investment made under paragraph (b) shall be credited to the estate, trust or person on whose behalf the investment is made; and (d) any loss arising out of an investment made under paragraph (b) shall be debited to the estate, trust or person on whose behalf the investment is made.