Money from several estates and trusts may be invested as single fund
22 Money from several estates and trusts may be invested as single fund
Subject to a trust instrument or court order, the Public Trustee may invest money from 2 or more estates or trusts as a single fund in one or more investments.
Where money from 2 or more estates or trusts is invested as a single fund, the Public Trustee must:
keep an account showing the amount for the time being standing to the credit of each estate or trust; and
after deducting the commission, fees, charges and expenses charged against the fund:
divide income arising from investment of the money between the estates and trusts in proportion to the amounts invested and the period of each investment; and
divide profit or loss of a capital nature arising from investment of the money between the estates and trusts in proportion to the amounts invested.
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