Section 15
Power to deposit at bank and to pay calls
ActIn forceProvision 15 of 69
Section 15
(1)
Trustees may, pending the negotiation and preparation of any charge, or during any other time while an investment is being sought for, pay any trust money into a bank to a deposit or other account and all interest, if any, payable in respect thereof shall be applied as income.
(2)
Trustees may apply capital money subject to a trust in payment of the calls on any shares subject to the same trust.