4Guidelines for trustees—the Act, s 14DB(1)

4 Guidelines for trustees—the Act, s 14DB(1)

4 Guidelines for trustees—the Act, s 14DB(1)

(1) This section sets out guidelines for the investment of trust funds by trustees where the value of the funds subject to the trust is not more than $50,000.

(2) The following investments are investments a trustee might reasonably consider appropriate for the investment of trust funds—

(a) debentures or securities guaranteed by the Government of New South Wales,

(b) debentures or securities—

(i) issued by a public or local authority, or a statutory body representing the Crown, that is constituted by or under a law of the Commonwealth or a State or Territory, and

(ii) guaranteed by the Commonwealth, a State or the Northern Territory,

(c) debentures or securities issued by the Northern Territory and guaranteed by the Commonwealth,

(d) public funds or government stock or securities of the Commonwealth or a State,

(e) deposits with, withdrawable shares in or loans of money to an authorised deposit-taking institution,

(f) interest-bearing deposits in a bank.