17ABoard may be trustee

17A Board may be trustee

17A Board may be trustee

(1) The Board may be and act as a trustee under the terms of a gift, devise or bequest. The Board may do so even if some but not all of the purposes of the trust are not related to the functions of the Board, and even if the Board is or could be a beneficiary under the trust.

(2) The Board is taken always to have had these powers.

(3) This section does not authorise the Board to contravene any express provisions of this Act.

(4) Despite subsection (3), the Board may invest trust money in any way authorised by the trust or by any other law.

(5) This section does not limit any powers the Board has apart from this section.

s 17A: Ins 1993 No 108, Sch 1.