Section 17Part 0 —
Moneys not immediately wanted to be invested on government or real security
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The treasurer and trustee of any society is authorised and required, from time to time, by and with the consent of the society, given in such manner as is directed by the general rules, to lay out or dispose of such part of such sums of money as shall, at any time, be collected, given, or paid to and for the beneficial ends, intents and purposes of such society, as the exigencies of such society shall not call for the immediate application or expenditure of, either on real securities or in the purchase of real estate, to be approved of (such securities or conveyances of real estate to be taken in the name of such treasurer or trustee for the time being) or to invest the same in any chartered bank or banking company of the Islands, in the name of such treasurer or trustee; and from time to time, with such consent as aforesaid, and to alter, transfer and sell such securities and funds; and all the dividends, interest and proceeds which arise from the moneys so laid out or invested, shall be brought to account by such treasurer or trustee, and applied to and for the use of such society, according to the rules.