# The Charities (Shakespeare Birthplace Trust) Order 2017, Paragraph 5: Power of investment


For sections 8 (powers of investment) and 9 (duty of trustees in choosing investments) of the 1961 Act, substitute—
“Powers of investment
8. Any money in the hands of the trust and available for investment may be invested by the trustees in any investments in which trustees may invest under section 3 of the Act of 2000 (general power of investment).
Duty of trustees in choosing investments
9. (1) Sections 4 (standard investment criteria) and 5 of the Act of 2000 (restrictions on exercise of investment powers) apply in relation to the power in section 8 (reading references in those sections to a trustee as references to the trustees).
(2) The provisions specified in subsection (3) apply in relation to the Trust as they apply in relation to a charitable trust, but with the modifications specified in subsection (4).
(3) The provisions are—
(a) Part 4 of the Act of 2000 (agents, nominees and custodians) other than sections 11(2), 12(3), 13(3) to (5), 18, 25(2) and 27; and
(b) section 32 of that Act (remuneration of agents, nominees and custodians).
(4) The modifications are—
(a) any reference to a charitable trust or a trust is to be read as a reference to the trust;
(b) any reference to the trustees of a trust, or to the trustees, is to be read as a reference to the trustees;
(c) any reference to property or assets subject to the trust, or of the trust, is to be read as a reference to the property or assets of the trust;
(d) any reference to the acquisition of property which is to be subject to the trust is to be read as a reference to the acquisition of property by the trust;
(e) any reference to the trust instrument is to be read as a reference to this Act;
(f) any reference to a provision of the Act of 2000 is to be read as a reference to a provision of that Act as it applies in relation to the trust (and any reference to the Act of 2000 is to the provisions of that Act so far as they apply in relation to the trust);
(g) any reference to trust funds is to be read as a reference to the funds of the trust;
(h) any reference to section 12(3), 13(5) or 18 is omitted;
(i) the reference in section 11(3)(d) to any other function prescribed by an order made by the Secretary of State is to be read as a reference to any function prescribed by an order made by the Secretary of State under that provision in relation to a charitable trust and any such order applies in relation to the trust in so far as it applies to a charity which is not an exempt charity, with appropriate modifications;
(j) in sections 14(1) and 20(1) the references to sections 29 to 32 are to be read as references to section 32;
(k) in sections 14(3)(b) and 20(3)(b) the words “or any beneficiary” are omitted;
(l) in sections 16(3) and 17(4) the words “to any trust having a custodian trustee or” are omitted;
(m) in section 19(4) the words “which is not an exempt charity” are omitted;
(n) in section 23(1) and (2) the words “under paragraph 3 of Schedule 1” are omitted;
(o) in section 25(1) the words “Subject to subsection (2)” are omitted.”.

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Source: https://www.legislation.gov.uk/uksi/2017/783/schedule/paragraph/5 (the official version)
Page: https://openlegislation.uk/charities-shakespeare-birthplace-trust-order-2017/schedule/paragraph-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.