Section 7
Statutory powers of investment
In the case of trustees constituted under any written law, section 5 shall apply only in so far as the Minister may direct.
(2)
Where any body of persons, not being trustees, have under any written law power (however expressed) to make the like investments as trustees are for the time being authorized by law to make, section 5 shall not apply to the body except in so far as the
Minister may direct.
(3)
The Minister may direct that any specified body of persons, not being trustees constituted under any written law, which apart from this subsection would not have the like power of investment as is conferred by section 5, shall have that power to such extent as may be specified in the direction.
(4)
Any direction under this section may be given generally or in a particular case, and unconditionally or subject to conditions.