Paragraph 1 F1F2
Scotland and Northern Ireland
Where in a case falling within subsection (4) of section three of this Act, property belonging to the narrower-range part of a trust fund—
is invested otherwise than in a narrower-range investment, or
being so invested, is retained and not transferred or as soon as may be reinvested as mentioned in subsection (2) of section two of this Act,
then, so long as the property continues so invested and comprised in the narrower-range part of the fund, section one of this Act shall not authorise the making or retention of any wider-range investment.
Annotations
Textual amendments
- F1
Sch. 3 repealed (with savings) (E.W.) (1.2.2001) by 2000 c. 29, s. 40(1)(3), Sch. 2 Pt. I para. 1(2), Sch. 4 Pt. I (with s. 35); S.I. 2001/49, art. 2
- F2
Sch. 3 repealed (with savings) (S.) (1.1.2006) by Charities and Trustee Investment (Scotland) Act 2005 (asp 10), s. 107(2), Sch. 3 para. 4(3); S.S.I. 2005/644, art. 2(1), Sch. 1
Notes on the whole Act
Textual amendments
- F1
Act ceases to have effect in part (S.) (1.4.2010) by virtue of The Local Government Investments (Scotland) Regulations 2010 (S.S.I. 2010/122), regs. 1, 4