Investment powers under trusts reordered to prioritise express authorisation and remove proviso limiting referenced securities. The amendment substitutes the words in section 20 to allow trustees to make investments as expressly authorised by the instrument of trust or in any of the securities or class of securities, and omits the proviso words referring to 'in any of the securities or class of securities mentioned above', thereby clarifying the primacy of instrument-based authorisation and removing the proviso's textual limitation.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Investment powers under trusts reordered to prioritise express authorisation and remove proviso limiting referenced securities.
The amendment substitutes the words in section 20 to allow trustees to make investments as expressly authorised by the instrument of trust or in any of the securities or class of securities, and omits the proviso words referring to "in any of the securities or class of securities mentioned above", thereby clarifying the primacy of instrument-based authorisation and removing the proviso's textual limitation.
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