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The Charities (John Lyon Road Trust) Order 1991
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Investment Adviser.
10.—(1) The Trustee shall engage an investment expert, being
(i)a company or firm which is either an authorised person or anexempted person within the meaning of the Financial Services Act 1986(1) or
(ii)an individual who is an authorised person within the meaningof that Act and who has at least 15 years' experience in the City ofLondon of investment or financial management.
(2) In the following provisions of this Scheme,“Investment Adviser” means the expert engaged in pursuance of sub-clause (1) above.
(3) The Trustee shall require the Investment Adviser to comply with thefollowing provisions:—
(a)the Adviser shall keep the investments of the Charity under reviewat all times; and
(b)the Adviser shall inform the Trustee promptly of any change inthose investments which appears to the Adviser to be desirable (but ifso instructed shall instead inform an Investment Committee constitutedfor the purposes of clause 12 below).
(4) No investment other than—
(a)an investment which is for the time being a narrower-rangeinvestment within the meaning of the Trustee Investments Act 1961; or
(b)an investment in land,
shall be made except on the advice of the Investment Adviser.
(1)
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