Amendment of section 9.
3.
2
(b) in any other investment (including deposits in a bank outside the Colony) which may be authorized by the court on summary applica- tion for that purpose made in chambers. (2) Any application to the court made under paragraph (b) of subsection (1) shall be made by the trustee ex parte and shall be supported by affidavit
(3) The Governor în Council may from time to time by order published in the Gazette amend the Second Schedule.".
Section 9 of the principal Ordinance is amended in sub- section (1)-
(a) in paragraph (a), by deleting "in making the loan the
trustee was acting upon" and substituting the following-
"immediately prior to the making of the loan the trustee obtained”;
(b) in paragraph (6), by deleting "two third parts" and
substituting the following--
Amendment of section 81,
4.
Amendment of section 103.
"one balf".
Section 81 of the principal Ordinance is amended— (a) in subsection (1), by-
(i) deleting the full stop at the end of paragraph (0) and substituting a semicolon; and
(i) inserting thereafter the following new paragraph- "(p) to carry out all or any of the objects aforesaid either within or outside the Colony and by or through trustees, agents or otherwise and either alone or in con- junction with others.";
(b) by inserting, after subsection (3), the following new
subsection-
"(4) For the avoidance of doubt it is hereby declared that nothing in subsection (1) shall be construed so as to restrict, or at any time to have restricted, a trust company to carrying out its objects within the Colony only.".
5. Section 105 of the principal Ordinance is amended— (4) in subsection (1), by deleting "Schedule" and substituting
the following-
"First Schedule"; and
3
(b) in subsection (3), by deleting "the said Schedule" and
substituting the following-
6.
"the First Schedule".
The Schedule to the principal Ordinance is amended by being renumbered as the First Schedule.
7. The principal Ordinance is amended by adding after the existing Schedule the following new Schedule-
TIEMSE Exevgancanzoni Act 1961. Firat Schedule, PRIW I ▲ 0.
"SECOND SCHEDULE.
[8. 4.]
PART I
Overseas INVESTMENTS.
1. () () Defence Bonds,
(1) National Savings Certificates,
(iii) deposits in the Post Office Savings Bank,
(iv) ordinary deposits in a trustee savings bank.
of the United Kingdom;
(5) Ulster Savings Certificates;
(c)
Ath. 2 <.34.3
1
16 & 7 EG, I
2. 14.7
deposits in a bank or a department thereof certified under subsection (3) of section 9 of the Finance Act 1965.
Securities issued by Her Majesty's Government id the United Kingdom, the Government of Northern Ireland or the Government of the Isle of Man, not being securities falling within paragraph | of this Schedule and being fixed- interest securities registered in the United Kingdom or the Isle of Man, Treasury Bills or Tax Reserve Certificates.
3. Any securities the payment of interest on which is guaranteed by Her Majesty's Government in the United Kingdom or the Government of Northern Ireland.
4. Fixed-interest securities issued in the United King- dom by any public authority or nationalized industry or undertaking in the United Kingdom.
5. Fixed-interest securities issued in the United King- dom by the Government of any overseas territory within the Commonwealth or by any public or local authority within such a territory, being securities registered in the United Kingdom.
References in this paragraph to an overseas territory or to the government of such a territory shall be construed as if they occurred in the Overseas Service Act 1958.
Schedule renumbered as the First Schedule.
Addition of new Schedule.
No comments yet.
Private notes are available after approval.