Different powers of investment-trust laws and accounts , Financial Accounting

Assignment Help:

Powers of investment

1. Shares and debentures:  A trustee may:

  • Invest in bearer securities if these would otherwise be authorised;   
  • Acquiesce in an amalgamation or reconstruction; and
  • Take up or assign “rights” issues.

 

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.


Related Discussions:- Different powers of investment-trust laws and accounts

Evlaute expected value of sales volume, Q. Evlaute Expected value of sales ...

Q. Evlaute Expected value of sales volume? (17500 × 0·3) + (20000 × 0·6) + (22500 × 0·1) = 19500 units Expected NPV = (((19500 × 1·35) - 10000) × 3·605) - 50000 = $8852 W

Ratio analysis and vertical analysis, Balance Sheets: contains the balance...

Balance Sheets: contains the balance sheets as of December 31, 2010, 2009, and 2008. Accounting practice and tradition dictates that the most current year is placed nearest to the

Content of accounts-trusts accounts, Content of accounts Periodical acc...

Content of accounts Periodical accounts should normally consist of:         1.    Balance sheet of the whole trust;         2.    Capital account;         3.    Income account

Statement of owner''s equity , Prepare an income statement and statement of...

Prepare an income statement and statement of owner's equity  (month ended Mar,31 1995) Auto remair fee earned            37,300 Salaries Expense                    11500 Repair par

Vegetable gowing, disscuss the applicability of a operating cycle in vegeta...

disscuss the applicability of a operating cycle in vegetable growing bussiness in uganda

State the relationship between return and risk, State the relationship betw...

State the relationship between return and risk This relationship between return and risk has significant implications for setting financial objectives for a business. Owners wil

Compute the cost allocated to cost centers, 1.      Allocation of Indirec...

1.      Allocation of Indirect Cost Radiology Department in long Island Jewish Hospital incurred $1,267,000 of total indirect cost in five procedures (CC#557: Diagnostic Rad

Bankruptcy accounts for individuals and partnerships, BANKRUPTCY ACCOUNTS F...

BANKRUPTCY ACCOUNTS FOR INDIVIDUALS AND PARTNERSHIPS These include a statement of affairs and deficiency account. A statement of affairs takes the following form: v\:*

Me, what is the different between prorfit and margin prorfi

what is the different between prorfit and margin prorfi

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd