Clause 2

by deleting the definitions of “approved company”, “approved valuer” and “authorised unit trust scheme”;

by inserting, immediately after the definition of “debentures”, the following definition:“ “general power of investment”, in relation to a trustee, means the general power of investment conferred on him by section 4;”;

by deleting the definition of “land” and substituting the following definition:“ “land” has the same meaning as in section 4 of the Land Titles Act (Cap. 157);”;

by inserting, immediately after the definition of “solicitor”, the following definitions:“ “standard investment criteria”, in relation to a trust, means the standard investment criteria set out in section 5(3);“statutory duty of care”, in relation to a trustee, means the duty of care required to be exercised by him under Part IA;”; and

by deleting the definitions of “unit” and “unit trust scheme”.