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- Original (As enacted)
This is the original version (as it was originally enacted).
A manager may invest a sum of money—
(a)from the manager’s capital account only if it is invested—
(i)in the name of the manager, in a heritable security in Scotland or in a security over land in the rest of the United Kingdom,
(ii)in the name of the manager, in an interest-bearing account,
(iii)in an investment of such other description as the Scottish Ministers may specify in a direction under section 37(1),
(b)from the manager’s income account only if it is invested in the name of the manager in an interest-bearing account.
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Text created by the Scottish Government to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Acts of the Scottish Parliament except those which result from Budget Bills.
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