sec.69Power to invest

sec.69 Power to invest

A trustee may invest trust funds in any form of investment, other than a forbidden form of investment. Also, a trustee may, at any time— vary an investment of trust funds; or realise an investment of trust funds and reinvest an amount resulting from the realisation in any form of investment, other than a forbidden form of investment. A trustee must, in exercising power under subsection (1) or (2) , comply with any provision of the trust instrument that is binding on the trustee and requires the trustee to— obtain a consent or approval in relation to trust investments; or comply with a direction in relation to trust investments. In this section— forbidden form of investment , in relation to trust funds, means a form of investment that is expressly forbidden by the trust instrument. See, however, section 75 for a power that can not be forbidden, or otherwise limited, by a trust instrument. (sec.69-ssec.1) A trustee may invest trust funds in any form of investment, other than a forbidden form of investment. (sec.69-ssec.2) Also, a trustee may, at any time— vary an investment of trust funds; or realise an investment of trust funds and reinvest an amount resulting from the realisation in any form of investment, other than a forbidden form of investment. (sec.69-ssec.3) A trustee must, in exercising power under subsection (1) or (2) , comply with any provision of the trust instrument that is binding on the trustee and requires the trustee to— obtain a consent or approval in relation to trust investments; or comply with a direction in relation to trust investments. (sec.69-ssec.4) In this section— forbidden form of investment , in relation to trust funds, means a form of investment that is expressly forbidden by the trust instrument. See, however, section 75 for a power that can not be forbidden, or otherwise limited, by a trust instrument.

• (a) vary an investment of trust funds; or
• (b) realise an investment of trust funds and reinvest an amount resulting from the realisation in any form of investment, other than a forbidden form of investment.
• (a) obtain a consent or approval in relation to trust investments; or
• (b) comply with a direction in relation to trust investments.