51
In forcePower to invest and continue investments
Chapter 4Functions and powers of guardians and administrators
Part 2Particular functions and powers of administrators
51 Power to invest and continue investments
(1)
This section applies if an administrator for an adult has power to invest.
(2)
The administrator may invest only in authorised investments.
(3)
However, if, when the administrator is appointed, the adult had investments that were not authorised investments, the administrator may continue the investments, including by taking up rights to issues of new shares, or options for new shares, to which the adult becomes entitled by the adult’s existing shareholding.
This Act’s bill:Explanatory memorandum
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