Section 20BInvestment of trust-money in company securities

s. 20B

20B. Investment of trust-money in company securities [(1) Where the trust property comprises money and it cannot be applied immediately to the purposes of the trust, the trustee may, subject to any prohibition or restriction imposed in the instrument of trust, invest an amount not exceeding 25% of such money, hereinafter referred to in this section as the maximum limit of investment, in any security listed with a stock exchange of Bangladesh. (2) In determining the exact amount of money that may be invested under sub-section (1) at any given time, the money already invested, if any, under this section and also under 20(f) shall be deducted from the maximum limit of investment at that time. (3) Nothing in this section shall be construed to be a bar to authorise the investment of trust-money by the author of the trust beyond the maximum limit of investment.]

1. 14. Section 20B was inserted by section 2 of the Trusts (Amendment) Act, 2000 (Act No. XXI of 2000)