PART VIIMISCELLANEOUS AND SUPPLEMENTARY
Power to insure
37Power to insure
1
For section 19 of the Trustee Act (Northern Ireland) 1958 (c.23) (power to insure) substitute—
19Power to insure
A trustee may—
a
insure any property which is subject to the trust against risks of loss or damage due to any event, and
b
pay the premiums out of any income or capital funds of the trust
2
In section 20(1) of the Trustee Act (Northern Ireland) 1958 (c.23) (application of insurance money) omit “whether by fire or otherwise”.
3
The amendments made by this section apply in relation to trusts whether created before or after its commencement.