International Trusts Order, 2000 · As enacted · Part II · Investments
Section 12
Official textFrom Attorney General's Chambers, unchanged
{ll 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.
trust
"trust" means an international trust except where the context otherwise requires;
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.
securities payable to the bearer
"securities payable to the bearer" include securities transferable by delivery or by delivery and endorsement;
Terms defined in s 2
mortgage
Defined · s 2"mortgage" includes every kind of security for money charged on any kind of property and includes an agreement to mortgage; and
property
Defined · s 2"property" includes - {a} money, goods, chases in action, land and every descriptions of property1 whether movable or immovable; and (b} obligations, easements and every description of estate, interest and profit, present or future, vested or contingent, arising out of, or incident to, any property as defined in paragraph {a}; 1141 17th. JULY, 2000
securities payable to the bearer
Defined · s 2"securities payable to the bearer" include securities transferable by delivery or by delivery and endorsement;
trust
Defined · s 2"trust" means an international trust except where the context otherwise requires;
Part III
Part IV
Protections and Indemnities of Trustees
Part VI
Part VII
Powers of the Court
Part VIII
Authorised Purpose Trusts
Part IX
Part X
Additional Provisions
Part XI