Regulation 12

The Public Trustee may invest or retain invested money belonging to any trust or estate and coming to his hands in any mode of investment expressly or impliedly authorised by the trust instrument or (if there is no trust instrument) authorised by law for the investment of trust funds, and may, if authorised by the trust instrument or otherwise by law, retain any investment existing at the date of the commencement of the trust:Provided that he shall not invest in or hold any investment in such manner as to expose him to liability as the holder thereof, unless he is satisfied that he is fully indemnified or secured against loss.