§ 77. Dame Irene Wardasked the Attorney-General whether he is aware that the Public Trustee is investing money awarded to minors by the civil court in undated loans which lose value before repayment date, and then in notifying the minor on attaining his majority suggests the award be left in the purchased security with no protection against further loss of value; and whether, in future, instructions will be given to the Public Trustee to take steps to safeguard the interests of those who are entitled to look to the Public Trustee for protection.
§ The Attorney-GeneralAfter making inquiries I am satisfied that the Public Trustee follows no such policy.
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§ 78. Dame Irene Wardasked the Attorney-General what amount of money has been invested by the Public Trustee on behalf of minors since October, 1951, in undated loans; what loans have been selected for such investments; and what is the value of the moneys at the time of investment and their value today.
§ The Attorney-GeneralThis information could be obtained only by examining some 17,000 trusts administered by the Public Trustee. I do not think the work and expense involved would be justified.