Singapore legislation
Clause 34
Clause 34
Amendment of Trustees Act
Section 4 of the Trustees Act (Cap. 337, 2005 Ed.) is amended by deleting subsection (1) and substituting the following subsection:“(1) Subject to the provisions of this Act —
(a)
a trustee may make any kind of investment that he could make if he were absolutely entitled to the assets of the trust; and
(b)
without prejudice to the generality of paragraph (a), a trustee may —
(i)
invest any funds in his hands, whether at the time in a state of investment or not, in any manner specified in Part I, II or III of the First Schedule in force immediately before 15th December 2004; and
(ii)
from time to time vary any such investment.”.