Rule 15 Investment in securitiesI1
England and Wales
This rule applies where a fund in court was invested by the Accountant General in any of the following ways before 3rd October 2011 and remained so invested immediately before that date:
in any manner specified in Part I, paragraphs 1 to 10 and 12 of Part II and paragraphs 2, 2A and 3 of Part III of schedule 1 to the Trustee Act 1961f1, as supplemented by the provisions of Part IV of that schedule;
in investment trust ordinary shares;
in securities (other than common investment fund units) where the person entitled to the securities is subject to an order of the Court of Protection; or
in a common investment fund.
The Accountant General may continue to invest or reinvest the fund in court in the ways mentioned in paragraph (1).
The Accountant General may not invest or reinvest the fund in court in accordance with paragraph (2) if the cost would be disproportionate to the amount to be invested or reinvested.
Annotations
Commencement
Footnotes
- f1