sec.47Insurance

### sec.47 Insurance A trustee may insure against loss or damage, whether by fire or otherwise, any insurable property, and against any risk or liability against which it would be prudent for a person to insure if the person were acting for himself or herself. The insurance may be for any amount, provided that, together with the amount of any insurance already on foot, the total shall not exceed the insurable value or liability. Subject to any direction expressed in the instrument (if any) creating the trust or to any direction of the court, the trustee may, as the trustee thinks fit, pay the premiums out of— the income of the property concerned; or the income of any other property subject to the same trusts; or any capital money subject to the same trusts; or any 1 or more of paragraphs (a) to (c) in such proportions as the trustee considers equitable. (sec.47-ssec.1) A trustee may insure against loss or damage, whether by fire or otherwise, any insurable property, and against any risk or liability against which it would be prudent for a person to insure if the person were acting for himself or herself. (sec.47-ssec.2) The insurance may be for any amount, provided that, together with the amount of any insurance already on foot, the total shall not exceed the insurable value or liability. (sec.47-ssec.3) Subject to any direction expressed in the instrument (if any) creating the trust or to any direction of the court, the trustee may, as the trustee thinks fit, pay the premiums out of— the income of the property concerned; or the income of any other property subject to the same trusts; or any capital money subject to the same trusts; or any 1 or more of paragraphs (a) to (c) in such proportions as the trustee considers equitable. - (a) the income of the property concerned; or - (b) the income of any other property subject to the same trusts; or - (c) any capital money subject to the same trusts; or - (d) any 1 or more of paragraphs (a) to (c) in such proportions as the trustee considers equitable.