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.