Trusts (Scotland) Act 1921

12 Investment on charges under Improvement of Land Acts, &c. S

(1) A trustee having power to invest in real securities, unless expressly forbidden by the trust deed, may invest, and shall be deemed to have always had power to invest, on any charge or on any mortgage on such charge made under the M1 Improvement of Land Acts, 1864 M2 and 1899, or on any charge created for payment of estate or other Government duty under the M3 Finance Act, 1894, or the M4 Finance (1909—10) Act, 1910.

(2) A trustee having power to invest in the mortgages or bonds of any railway company or of any other description of company may, unless the contrary is expressed in the trust deed, invest in the debenture stock of a railway company or such other company as aforesaid.

(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1

(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1

Textual Amendments

F1 Ss. 10, 11, 12(3)(4) repealed by Trustee Investments Act 1961 (c. 62), Sch. 5

Marginal Citations

M1 1864 c. 114.

M2 1899 c. 46.

M3 1894 c. 30.

M4 1910 c. 8.