12APower of trustee to retain investments

12A Power of trustee to retain investments

[Section 12A Inserted by No. 64 of 1997, s. 4, Applied:01 Apr 1998] 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; or

(b) an investment properly made by the trustee exercising a power of investment; or

(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 law.