Investment of money not held in common funds
57 Investment of money not held in common funds
Where money received by the public trustee and guardian is not, under section 55, required to be paid into a common fund—
the money shall belong to and be held in the name of the estate, trust or person on whose behalf the money is received; and
the public trustee and guardian must invest the money in accordance with any directions applying to it; and
capital or income received in respect of an investment made under paragraph (b) shall be credited to the estate, trust or person on whose behalf the investment is made; and
any loss arising out of an investment made under paragraph (b) shall be debited to the estate, trust or person on whose behalf the investment is made.
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