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Corporations and trustees holding money in trust for any public or charitable purpose may invest the same in real securities.
9 Geo. 2. c. 36.
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1. It shall be lawful for all corporations and trustees in the United Kingdom holding moneys in trust for any public or charitable purpose to invest such moneys on any real security authorized by or consistent with the trusts on which such moneys are held, without being deemed thereby to have acquired or become possessed of any land within the meaning of the laws relating to mortmain, or of any prohibition or restraint against the holding of land by such corporations or trustees contained in any charter or Act of Parliament; and no contract for or conveyance of any interest in land made bonâ fide for the purpose only of such security shall be deemed void by reason of any non-compliance with the conditions and solemnities required by [2]
an Act passed in the ninth year of King George the Second, intituled “An Act to restrain the disposition of lands whereby “the same become unalienable.”
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