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Version Superseded: 01/02/2001
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(1)Any sums in the Fund which are not immediately required for any other purpose may be invested by the Trustees in accordance with this section.
(2)Sums directly or indirectly representing money paid into the Fund under section 2(1) [F1or (1A)] above may be invested in any manner approved by the Treasury; and the Trustees—
(a)shall not invest any amount available for investment which represents such money except with the consent of the Treasury; and
(b)shall, if the Treasury so require, invest any such amount specified by the Treasury in such manner as the Treasury may direct.
(3)Any sums to which subsection (2) above does not apply may be invested in accordance with the M1Trustee Investments Act 1961; and sections 1, 2, 5, 6, 12 and 13 of that Act shall have effect in relation to such sums, and in relation to any investments for the time being representing such sums, as if they constituted a trust fund and the Trustees were the trustees of that trust fund.
Textual Amendments
F1Words in s. 6(2) inserted (21.12.1993) by 1993 c. 39, s. 36, Sch. 4 para.5; S.I. 1993/2632, art.3.
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