TRUSTEE ACT BTLL.

Press, Volume L, Issue 15047, 15 August 1914, Page 13

TRUSTEE ACT BTLL.

(SPECIAL TO "THE TRESS.")

WELLINGTON, August 14. The Trustee Act Amendment Bill, which passed through all its stages in both Houses this evening, amends eectkra 95 of the Trustee Act, 1908, by I providing that during a state of war, ! and for any period thereafter that may be prescribed by regulation, but not exceeding sis months, it shall be lawfnl ofr trustees, unless expressly forbidden by tho instrument (if any) , creating Ibe trust, to invest trust funds in addition to the methods already ; provided) "on deposit at interest with any institution approved for the purpose by the Governor oy Order-in-CouncU gazetted." . . Section 4 provides {—"Deposit* at interest heretofore made within twelve months before the commencement ">f the Act by trustees with any msfiution, shall be deemed to have been authorised by the terms of the fcirusfc. end by law, and maj? be continued, and rnav from time to time be renewed, co Icmk as 8 state of war eafets ict New ZeaX&ntL whether ike icsfitataen be or be not approved toe the purpose by prder-in-Coancil." Deposite under the Act may be made for any period not exceeding twelve months.. The. Act will.continue.in forco until j the 31st day of December, 1915. j