21
In forcePower of the Minister to direct a trust to set aside funds for the payment of debts
21 Power of the Minister to direct a trust to set aside funds for the payment of debts
(1)
The Minister may give directions to a trust:
(a)
requiring it to set aside part of its revenue for the payment of interest on any specified debt of the trust or for the repayment of any such debt together with any interest payable on it, and
(b)
if the Minister considers it appropriate, requiring the trust to invest that part in a specified manner.
(2)
A trust must comply with directions given to it under subsection (1).
This Act’s bill:Explanatory memorandum
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