Section 12
of International Trusts Order, 2000
ORDERIn forceProvision 12 of 109
Section 12
(1)
Trustees may, pending the negotiation and preparation of any mortgage or charge or during any other time while an investment is being sought for, pay any trust money into a bank to a deposit or other account.
(2)
Securities payable to the bearer which are trust property may, until sold, be deposited with a bank for safe custody and collection of interest, and any expenses of any such deposit and of collection shall be paid out of capital or income of the trust property, or partly in one way and partly in the other, as the trustees in their discretion think fit.
11
BLUV as at 16th December 2010
Application of Part II.