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Trustee Act 1893
10BPower of trustee to retain investments
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10B Power of trustee to retain investments
A trustee is not liable for breach of trust by reason only of
continuing to hold an investment that has ceased to be:
(a) an investment authorised by the instrument creating the trust;
(b) an investment properly made by the trustee exercising a
power of investment;
(c) an investment made under this Part as previously in force
from time to time; or
(d) an investment authorised by any other Act or the general law.
Proclamation in the Government Gazette 7