sec.41Power to establish investment common funds

### sec.41 Power to establish investment common funds The trust may establish investment common funds for the collective investment of moneys of the trust, trust moneys or other moneys held by or in the custody of the trust. The trust may, from time to time without liability for breach of trust, bring into or withdraw from an investment common fund established by it the whole or any part of moneys of the trust, trust moneys or other moneys held by or in the custody of the trust. Subject to subsections (4) and (5) , the trust shall distribute periodically the income of each investment common fund amongst those funds participating in the common fund, having regard to the extent of the participation of those funds in the common fund during the relevant accounting period. In a case where the trust has brought into an investment common fund sums of money that, having been received by it to be expended for a stated purpose, will not for any cause be expended for that purpose forthwith, the trust may pay into another fund of the trust (other than an investment common fund) the whole or any part of that portion of the income of such investment common fund that is attributable to the participation of those sums of money in that common fund and that is not required for the stated purpose. The trust may if it considers it proper so to do, from time to time, add a portion of the income of an investment common fund to the capital thereof or use another portion of that income to establish or augment a fund or funds as a provision against capital depreciation or reduction of income. This section does not confer a power to invest on the trust. s 41 prev s 41 om 1996 No. 54 s 9 sch pres s 41 amd 1997 No. 79 s 58 (sec.41-ssec.1) The trust may establish investment common funds for the collective investment of moneys of the trust, trust moneys or other moneys held by or in the custody of the trust. (sec.41-ssec.2) The trust may, from time to time without liability for breach of trust, bring into or withdraw from an investment common fund established by it the whole or any part of moneys of the trust, trust moneys or other moneys held by or in the custody of the trust. (sec.41-ssec.3) Subject to subsections (4) and (5) , the trust shall distribute periodically the income of each investment common fund amongst those funds participating in the common fund, having regard to the extent of the participation of those funds in the common fund during the relevant accounting period. (sec.41-ssec.4) In a case where the trust has brought into an investment common fund sums of money that, having been received by it to be expended for a stated purpose, will not for any cause be expended for that purpose forthwith, the trust may pay into another fund of the trust (other than an investment common fund) the whole or any part of that portion of the income of such investment common fund that is attributable to the participation of those sums of money in that common fund and that is not required for the stated purpose. (sec.41-ssec.5) The trust may if it considers it proper so to do, from time to time, add a portion of the income of an investment common fund to the capital thereof or use another portion of that income to establish or augment a fund or funds as a provision against capital depreciation or reduction of income. (sec.41-ssec.6) This section does not confer a power to invest on the trust.