PART IIINVESTMENT
3General power of investment
1
Subject to the provisions of this Part, a trustee may make any kind of investment that he could make if he were absolutely entitled to the assets of the trust.
2
In this Act the power under subsection (1) is called “the general power of investment”.
3
The general power of investment does not permit a trustee to make investments in land other than in loans secured on land (but see also section 8).
4
A person invests in a loan secured on land if he has rights under any contract under which—
a
one person provides another with credit, and
b
the obligation of the borrower to repay is secured on land.
5
“Credit” includes any cash loan or other financial accommodation.
6
“Cash” includes money in any form.