Trustee Companies Act 1964
17Contributory investments
Start here
Get a plain-English read of 17
Turn the raw legal text into a practical explanation grounded in Trustee Companies Act 1964.
17 Contributory investments
17 Contributory investments
Where a trustee company holds moneys belonging to more than one estate upon trusts, which require or permit the investment thereof, it shall be lawful for the trustee company to invest such moneys as one fund, and to distribute the income arising therefrom rateably among the several estates to which the money so invested belongs; and any loss arising from any such investment shall likewise be borne rateably by the several estates.
Any such investment shall be made either in investments in which a trustee may invest trust funds in accordance with the Trustee Act 1925 or in investments authorised by each of the trust instruments.
s 17: Am 1979 No 186, Sch 2 (3); 1997 No 102, Sch 2.12.