Trustee (Authorised Investments) Act, 1958
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Investment of money under control or subject to order of Court. |
3.—(1) Money under the control or subject to the order of any Court may be invested in— | |
(a) any of the investments specified in section 1 of the Trustee Act, 1893, as amended by section 1 of this Act, or | ||
(b) where those investments have been varied by order under section 2 of this Act, any of those investments as so varied, | ||
and shall not be invested in any other manner. | ||
(2) This section shall have effect notwithstanding anything to the contrary contained in any other Act or any rule of court. | ||
(3) This section shall not affect the jurisdiction of any court to direct or permit money under its control or subject to its order to be used for the benefit of any person entitled thereto or having an interest therein— | ||
(a) in making payments in connection with the acquisition, use or management of any land or business, or any share in any business, or | ||
(b) in subscribing for securities offered on advantageous terms to holders of the same kind of securities. |