Act Repealed Latest version as at 12 November 1953 (as enacted) | 1953 No 12

Bay of Islands Harbour Board Empowering Amendment Act 1953

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Authorizing debentures as trustee investment.

Bay of Islands Harbour Board Empowering Amendment Act 1953

Local Act		1953 No 12
Date of assent		12 November 1953

	Title
1	Short Title.
2	Authorizing debentures as trustee investment.

An Act to amend the Bay of Islands Harbour Board Empowering Act 1952.

BE IT ENACTED by the General Assembly of New Zealand in Parliament assembled, and by the authority of the same, as follows:

1 Short Title.

This Act may be cited as the Bay of Islands Harbour Board Empowering Amendment Act 1953, and shall be read together with and deemed part of the Bay of Islands Harbour Board Empowering Act 1952.

2 Authorizing debentures as trustee investment.

It shall be lawful for a trustee, unless expressly forbidden by the instrument (if any) expressly creating the trust, to invest any trust funds in his hands in any debentures or other securities issued or created by the Bay of Islands Harbour Board if the repayment of the loan to which those debentures or other securities relate, and interest thereon, is secured by a special rate made and levied by the Board for the purposes of the loan.

Bay of Islands Harbour Board Empowering Amendment Act 1953