Trustee Investments Act 1961
Write the words of this act the way you think they should read. Solon shows your change as a redline against the published text and pins it to that exact text, so it can never be applied to wording you did not see.
Change 1
SECOND SCHEDULE Modification of s. 2 in relation to property falling within s. 3(3)
Section 3. 1 In this Schedule “ special-range property ” means property falling within subsection (3) of section three of this Act. 2 (1) Where a trust fund includes special-range property, subsection (1) of section two of this Act shall have effect as if references to the trust fund were references to so much thereof as does not consist of special-range property, and the special-range property shall be carried to a separate part of the fund. (2) Any property which— (a) being property belonging to the narrower-range or wider-range part of a trust fund, is converted into special-range property, or (b) being special-range property, accrues to a trust fund after the division of the fund or part thereof in pursuance of subsection (1) of section two of this Act or of that subsection as modified by sub-paragraph (1) of this paragraph, shall be carried to such a separate part of the fund as aforesaid; and subsections (2) and (3) of the said section two shall have effect subject to this sub-paragraph. 3 Where property carried to such a separate part as aforesaid is converted into property other than special-range property,— (a) it shall be transferred to the narrower-range part of the fund or the wider-range part of the fund or apportioned between them, and (b) any transfer of property from one of those parts to the other shall be made which is necessary to secure that the value of each of those parts of the fund is increased by the same amount.
SECOND SCHEDULE Modification of s. 2 in relation to property falling within s. 3(3)
Section 3. 1 In this Schedule “ special-range property ” means property falling within subsection (3) of section three of this Act. 2 (1) Where a trust fund includes special-range property, subsection (1) of section two of this Act shall have effect as if references to the trust fund were references to so much thereof as does not consist of special-range property, and the special-range property shall be carried to a separate part of the fund. (2) Any property which— (a) being property belonging to the narrower-range or wider-range part of a trust fund, is converted into special-range property, or (b) being special-range property, accrues to a trust fund after the division of the fund or part thereof in pursuance of subsection (1) of section two of this Act or of that subsection as modified by sub-paragraph (1) of this paragraph, shall be carried to such a separate part of the fund as aforesaid; and subsections (2) and (3) of the said section two shall have effect subject to this sub-paragraph. 3 Where property carried to such a separate part as aforesaid is converted into property other than special-range property,— (a) it shall be transferred to the narrower-range part of the fund or the wider-range part of the fund or apportioned between them, and (b) any transfer of property from one of those parts to the other shall be made which is necessary to secure that the value of each of those parts of the fund is increased by the same amount.
One line that says what changes, such as "Halve the dog tax".
Who it helps, what it costs, what it fixes. It is what persuades people to support it.
A proposal here is not law. Support on Solon is evidence that people want the change; the official route says what it takes to make it law.
Sign in to file your proposal. What you have written stays on this page.
Sign in to file itThink it through
Ask what your change would do, who would gain and who would bear a cost, and where something like it is already law. The assistant reads your draft as it stands, cites the law and the studies it finds, and takes no side. What you file stays yours.