# Trustee Act 2000, Paragraph 4


In section 9 (investment powers relating to proceeds of sale of land acquired under the Act) for subsection (5) substitute—
“(5) Money arising by sale may, until reinvested in the purchase of land, be invested—
(a) in the names of the governing body, in any investments in which trustees may invest under the general power of investment in section 3 of the Trustee Act 2000 (as restricted by sections 4 and 5 of that Act), or
(b) under the general power of investment in section 3 of that Act, by trustees for the governing body or by a person authorised by the trustees under that Act to invest as an agent of the trustees.
(6) Any profits from investments under subsection (5) shall be invested in the same way and added to capital until the capital is reinvested in the purchase of land.”

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Source: https://www.legislation.gov.uk/ukpga/2000/29/schedule/2/paragraph/4 (the official version)
Page: https://openlegislation.uk/trustee-act-2000/schedule-2/paragraph-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.