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Powers of investment 1. Shares and debentures: A trustee may:
2. Not more than one-eighth of the value of trust fund or Shs.10,000, whichever is the greater, shall be invested in the securities of any one company or unit trust.
3. Mortgages: These are authorised under the Trustee Act if given in respect of freehold land or leasehold land with at least 40 years unexpiered; the trustee may lend up to two-thirds the value of the land as assessed by a competent surveyor or valuer.
4. Retention of securities: A trustee is not liable simply for retaining an investment which has cease to be authorised; but he must review periodically – with advice – wider range.
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