Trustee Investments Act 1961

1. Introductory Text

2. 1. New powers of investment of trustees

3. 2. Restrictions on wider-range investment

4. 3. Relationship between Act and other powers of investment

5. 4. Interpretation of references to trust property and trust funds

6. 5. Certain valuations to be conclusive for purposes of division of trust fund

7. 6. Duty of trustees in choosing investments

8. 7. Application of ss. 1-6 to persons, other than trustees, having trustee investment powers

9. 8. Application of ss. 1-6 in special cases

10. 9. Supplementary provisions as to investments

11. 10. Powers of Scottish trustees supplementary to powers of investment

12. 11. Local Authority investment schemes

13. 12. Power to confer additional powers of investment

14. 13. Power to modify provisions as to division of trust fund

15. 14. Amendment of s. 27 of Trusts (Scotland) Act, 1921

16. 15. Saving for powers of court

17. 16. Minor and consequential amendments and repeals

18. 17. Short title, extent and construction

19. SCHEDULES

    1. FIRST SCHEDULE

       Manner of Investment

       1. PART I Narrower-Range Investments not Requiring Advice

          1. 1. In Defence Bonds, National Savings Certificates and Ulster Savings Certificates....

          2. 2. In deposits in the Post Office Savings Bank, ordinary deposits...

       2. PART II Narrower-Range Investments Requiring Advice

          1. 1. In securities issued by Her Majesty's Government in the United...

          2. 2. In any securities the payment of interest on which is...

          3. 3. In fixed-interest securities issued in the United Kingdom by any...

          4. 4. In fixed-interest securities issued in the United Kingdom by the...

          5. 5. In fixed-interest securities issued in the United Kingdom by the...

          6. 6. In debentures issued in the United Kingdom by a company...

          7. 7. In stock of the Bank of Ireland.

          8. 8. In debentures issued by the Agricultural Mortgage Corporation Limited or...

          9. 9. In loans to any authority to which this paragraph applies...

          10. 10. In debentures or in the guaranteed or preference stock of...

          11. 11. In deposits by way of special investment in a trustee...

          12. 12. In deposits in a building society designated under section one...

          13. 13. In mortgages of freehold property in England and Wales or...

          14. 14. In perpetual rent-charges charged on land in England and Wales...

       3. PART III Wider-Range Investments

          1. 1. In any securities issued in the United Kingdom by a...

          2. 2. In shares in any building society designated under section one...

          3. 3. In any units, or other shares of the investments subject...

       4. PART IV Supplemental

          1. 1. The securities mentioned in Parts I to III of this...

          2. 2. The securities mentioned in paragraphs 1 to 8 of Part...

          3. 3. The securities mentioned in paragraph 6 of Part II and...

          4. 4. In this Schedule, unless the context otherwise requires, the following...

          5. 5. It is hereby declared that in this Schedule " mortgage...

          6. 6. References in this Schedule to an incorporated company are references...

          7. 7. The references in paragraph 12 of Part II and paragraphs...

    2. SECOND SCHEDULE

       Modification of s. 2 in relation to property falling within s. 3 (3)

       1. 1. In this Schedule "special-range property" means property falling within subsection...

       2. 2. (1) Where a trust fund includes special-range property, subsection (1)...

       3. 3. Where property carried to such a separate part as aforesaid...

    3. THIRD SCHEDULE

       Provisions Supplementary to s. 3 (4)

       1. 1. Where in a case falling within subsection (4) of section...

       2. 2. Section four of the Trustee Act, 1925, or section thirty-three...

    4. FOURTH SCHEDULE

       Minor and Consequential Amendments

       1. 1. (1) References in the Trustee Act, 1925, except in subsection...

       2. 2. (1) In the Schedule to the Building Societies Act, 1939...

       3. 3. The following enactments and instruments, that is to say—

       4. 4. (1) In section one of the Trustee Savings Banks Act,...

       5. 5. For the purposes of the provisions of the Post Office...

       6. 6. For the reference in subsection (2) of section one of...

    5. FIFTH SCHEDULE

       Repeals