Section 35Part 1 — Trusts Act
Authorised investments
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A trustee may invest any trust funds in that perso n’s hands, whether at the time in a state of investment or not —
in any securities in which trustees in England are for the time being authorised by the law of England to invest trust funds;
in any securities the interest on which is for the time being guaranteed by the Government of the Islands, or in any public debentures issued under the authority of and guaranteed by any law in force in the Islands;
upon freehold securities in the Islands by way of first mortgages thereon; or
on first mortgage of leasehold property in the Islands held for an unexpired term of not less than sixty years at a peppercorn rent, and may also, from time to time, vary such investment.