Local Government Act 1976 · Updated to 1 Dec 2012 · Part V · General Financial Provisions
44. Securities to be trust investment
Feedback & support(1)
A trustee, executor or administrator may, unless forbidden by the will or other instrument under which he acts, invest the trust funds in any security issued by a local authority under this Act or any other written law and may for that purpose call in any trust funds invested in any other securities.
(2)
Where any local authority or statutory body is by law authorized or required to invest moneys in the securities of the Government of the Federation, it may invest such moneys in any securities issued by a local authority under this Act or any other written law.