Trusts (Scotland) Amendment Act 1884
| Jurisdiction | UK Non-devolved |
| Citation | 1884 c. 63 |
| Year | 1884 |
Trusts (Scotland) Amendment Act, 1884
(47 & 48 Vict.) CHAPTER 63.
An Act to amend the Trusts (Scotland) Act, 1867.
[14th August 1884]
W HEREAS by an Act passed in the twenty-fourth and twenty-fifth years of the reign of Her present Majesty, intituled An Act to amend the law in Scotland relative to the resignation, powers, and liabilities of gratuitous trustees, and by an Act passed in the twenty sixth and twenty-seventh years of the reign of Her present Majesty, intituled An Actto explain the Act for the amendment of the law relative to gratuitous trustees in Scotland, and by the Trusts (Scotland) Act, 1867, certain powers are conferred on gratuitous trustees in Scotland:
And it is expedient to amend the said Acts, and to extend the powers thereby conferred:
Be it enacted by the Queen's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:
1 Short title.
1. This Act may be cited as theTrusts (Scotland) Amendment Act, 1884, and the said Acts and this Act may be cited as the Trusts (Scotland) Acts, 1861 to 1884, and shall be read and construed together.
2 Definition of trust.
2. In the construction of the said recited Acts and of this Act,—
‘Trust’ shall mean and include any trust constituted by any deed or other writing, or by private or local Act of Parliament, or by resolution of any corporation or public or ecclesiastical body, and the appointment of any tutor, curator, or judicial factor by deed, decree, or otherwise.
‘Trustee’ shall include tutor, curator, and judicial factor.
‘Judicial factor’ shall mean any person judicially appointed factor upon a trust estate or upon the estate of a person incapable of managing his own affairs, factor loco tutoris, factor loco absentis, and curator bonis.
The words ‘East India Stock’ shall have the meaning assigned to them by an Act passed in the session holden in the thirtieth and thirty-first years of Her present Majesty, chapter one hundred and thirty-two.
3 Powers of investment.
3. Trustees under any trust may, unless specially prohibited by the constitution or terms of the trust, invest the trust funds—
1. Any of the Government stocks, public funds, or securities of the United Kingdom:
2. Stock of the Bank of England.
3. Any securities the interest of which is or shall be guaranteed by Parliament:
4. Debenture stock of railway companies in Great Britain incorporated...
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