The Local Government Act (Northern Ireland) 1972 (c. 9)
22.—(1) In section 56(3) for the words from “in a security or securities” to the end substitute
“—
(a)if regulations so provide, in such manner as may be prescribed;
(b)in any other case, in any investments in which trustees may invest under—
(i)the general power of investment in section 3 of the Trustee Act (Northern Ireland) 2001 (as restricted by sections 4 and 5 of that Act); or
(ii)section 8(1)(a) of that Act (land).”.
(2) After section 56(3) insert—
“(3A) Any money invested in accordance with subsection (3)(b) immediately before the coming into operation of regulations under subsection (3)(a) shall, for the period of 6 months from the coming into operation of those regulations, be taken to have been invested in accordance with those regulations.”.