AI-assisted research summary: This Order changes the list of investments trustees may use by adding two bank deposit options and units in a named fund, and removing one bank deposit option.
S.I. No. 372/1986 - Trustee (Authorised Investments) Order, 1986. S.I. No. 372 of 1986. TRUSTEE (AUTHORISED INVESTMENTS) ORDER, 1986. I, JOHN BRUTON, Minister for Finance, in exercise of the powers conferred on me by section 2 (1) of the Trustee (Authorised Investments) Act, 1958 (No. 8 of 1958), and having complied with subsections (2) and (3) of that section, hereby order as follows: 1. This Order may be cited as the Trustee (Authorised Investments) Order, 1986. 2. The following investments are hereby added to the investments specified in section 1 of the Trustee Act, 1893, as amended by the Trustee (Authorised Investments) Act, 1958 (No. 8 of 1958), that is to say— ) investment in interest-bearing deposit accounts with any of the following licensed banks— Ansbacher & Company Limited, Smurfit Paribas Bank Limited, ) investment in units of Bank of Ireland Gilt and Bond Fund. 3. The following investments are hereby deleted from the investments specified in section 1 of the said Trustee Act, 1893, as amended by the said Trustee (Authorised Investments) Act, 1958 , and the Trustee (Authorised Investments) Order, 1979 ( S.I. No. 407 of 1979 ), that is to say, investment in interest-bearing deposit accounts with the following licenced bank: Royal Trust Company (Ireland) Limited. GIVEN under my Official Seal this 24th day of November, 1986. JOHN BRUTON, Minister for Finance. EXPLANATORY NOTE. This Order extends the list of investments in which trusts funds may be held by the addition of interest-bearing deposit accounts with the two named banks and of units in the named investment fund. The Order also removes from the authorised list interest-bearing deposit accounts with the named company which no longer engages in banking operations.