4.—(1) Subject to the provisions of this Act, a trustee may invest any funds in his hands, whether at the time in a state of investment or not, in any manner specified in Part I, II or III of the First Schedule and may also from time to time vary such investments.
[23/92]
(2) Part IV of the First Schedule shall have effect for the interpretation and for restricting the operation of Parts I to III of that Schedule.
[23/92]
(3) Every power conferred by this section shall be exercised according to the discretion of the trustee, but subject to any consent or direction, with respect to the investment of the trust funds, required by the instrument, if any, creating the trust or by any written law.
[23/92]
(4) The Minister may, from time to time by order published in the Gazette, amend the First Schedule.
[23/92]
Informal Consolidation | Amended Act 2 of 2012
General power of investment
4.—(1) Subject to the provisions of this Act —
(a)
a trustee may make any kind of investment that he could make if he were absolutely entitled to the assets of the trust; and
(b)
without prejudice to the generality of paragraph (a), a trustee may —
(i)
invest any funds in his hands, whether at the time in a state of investment or not, in any manner specified in Part I, II or III of the First Schedule in force immediately before 15th December 2004; and
(ii)
from time to time vary any such investment.
[Act 2 of 2012 wef 01/03/2012]
(2) For the purpose of subsection (1), “investment” includes investment in assets that do not yield any income.
[45/2004]
(3) This section shall apply in relation to trusts whether created before, on or after 15th December 2004.