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Amendments are not highlighted in legislation amended before 2012. We are working on it.
Formal Consolidation |  1999 RevEd
Statutory powers of investment
6.—(1)  In the case of trustees constituted under any written law, other than the Companies Act (Cap. 50), the power to invest in any manner mentioned in Parts II and III of the First Schedule shall apply only in so far as the Minister may direct.
[42/2001 wef 01/07/2002]
[23/92]
(2)  Where any body of persons, not being trustees, have under any written law power (however expressed) to make the like investments as trustees are for the time being authorised by law to make, the power to invest in any manner mentioned in Parts II and III of the First Schedule shall not apply to the body except in so far and to such extent as the Minister may direct.
[23/92]
(3)  Any direction under this section may be given generally or in a particular case, and unconditionally or subject to conditions.
[23/92]
Informal Consolidation | Amended Act 45 of 2004
Advice
6.—(1)  Except as otherwise provided by subsection (3), a trustee shall, before exercising any power of investment, whether arising under this Part or otherwise, obtain and consider proper advice about the way in which the power should be exercised, having regard to the standard investment criteria.
(2)  Except as otherwise provided by subsection (3), a trustee shall, when reviewing the investments of the trust, obtain and consider proper advice about whether the investments should be varied, having regard to the standard investment criteria.
(3)  A trustee need not obtain the advice required under subsection (1) or (2) if he reasonably concludes that in all the circumstances it is unnecessary or inappropriate to do so.
(4)  In this section, “proper advice” means the advice of a person who is reasonably believed by the trustee to be qualified to give such advice by his ability in and practical experience of financial and other matters relating to the proposed investment.
(5)  This section shall apply in relation to trusts whether created before, on or after the date of commencement of the Trustees (Amendment) Act 2004.
[45/2004 wef 15/12/2004]