sec.248Particular references in documents to authorised investments etc.

sec.248 Particular references in documents to authorised investments etc.

Subsection (2) applies if a provision in a document, whether or not the document creates a trust, authorises or requires a person to invest an amount in the investments authorised by the repealed Act as in force immediately before— the commencement of the Trusts (Investments) Amendment Act 1999 ; or the repeal of the repealed Act. The provision is to be read as if it authorised or required the person to invest the amount according to the provisions of part 6 in relation to the investment of trust funds. Subsection (4) applies to a reference in a document to— an authorised investment under the repealed Trustees and Executors Act 1897 , section 4; or an authorised investment under the repealed Act as in force immediately before— the commencement of the Trusts (Investments) Amendment Act 1999 ; or the repeal of the repealed Act. The reference may, if the context permits, be taken to be a reference to an investment that— could be made by a trustee exercising an investment power under part 6; or is authorised by an order made under section 179; or is authorised by another Act for the investment of trust funds or the general law. (sec.248-ssec.1) Subsection (2) applies if a provision in a document, whether or not the document creates a trust, authorises or requires a person to invest an amount in the investments authorised by the repealed Act as in force immediately before— the commencement of the Trusts (Investments) Amendment Act 1999 ; or the repeal of the repealed Act. (sec.248-ssec.2) The provision is to be read as if it authorised or required the person to invest the amount according to the provisions of part 6 in relation to the investment of trust funds. (sec.248-ssec.3) Subsection (4) applies to a reference in a document to— an authorised investment under the repealed Trustees and Executors Act 1897 , section 4; or an authorised investment under the repealed Act as in force immediately before— the commencement of the Trusts (Investments) Amendment Act 1999 ; or the repeal of the repealed Act. (sec.248-ssec.4) The reference may, if the context permits, be taken to be a reference to an investment that— could be made by a trustee exercising an investment power under part 6; or is authorised by an order made under section 179; or is authorised by another Act for the investment of trust funds or the general law.

• (a) the commencement of the Trusts (Investments) Amendment Act 1999 ; or
• (b) the repeal of the repealed Act.
• (a) an authorised investment under the repealed Trustees and Executors Act 1897 , section 4; or
• (b) an authorised investment under the repealed Act as in force immediately before— (i) the commencement of the Trusts (Investments) Amendment Act 1999 ; or (ii) the repeal of the repealed Act.
• (i) the commencement of the Trusts (Investments) Amendment Act 1999 ; or