Section 5
of International Trusts Order, 2000
Section 5
(1)
Subject as provided in subsection 3(6) –
(a)
trustees shall have the full powers of investment and of changing investments of individual beneficial owners absolutely entitled including
(without prejudice to the foregoing) –
(i)
investing through nominees; and
(ii)
investing in or upon the security of property of any kind in any part of the world, whether or not yielding any income or involving any liability;
8
BLUV as at 16th December 2010
(b)
the powers conferred by this section –
(i)
shall be exercisable in the discretion of the trustees; and
(ii)
shall be in addition to those conferred by the trust instrument or by law.
(2)
The powers conferred by this section apply to a trust if and so far only as a contrary intention is not expressed in the trust instrument and shall have effect subject to the terms of that instrument.
(3)
The powers conferred by this section shall be subject to any consent or direction required by the trust instrument with respect to the investment of trust property.
Exercise of powers of investment.