(1)The Board may invest money which is in a relevant fund and available for investment—
(a)in the purchase of investments or property, whether or not of a kind authorised by the general law for the investment of trust funds;
(b)on loan, whether or not on the security of property.
(2)If there is money in a relevant fund which the Board does not think appropriate for immediate investment, it may deposit the money at a bank.
(3)“Relevant fund” means a fund which the Board administers or of which it is trustee.
(4)In relation to land (whether freehold or leasehold), the Board may exercise any power of management or improvement which an absolute owner holding the land beneficially would be entitled to exercise.
Commencement Information
I1S. 46 in force at 1.3.2019 by S.I. 2019/98, art. 2