§ Lord Allen of Abbeydale
asked Her Majesty's Government:
Whether they contemplate that the statutory pro visions, or those that may be contained in trust deeds, which preclude trustees from investing in government stocks or equities issued in other member states of the European Community will continue to be valid in the single European market without frontiers.
§ The Minister of State, Department of Transport (Lord Brabazon of Tara)
The statutory provisions to which the noble Lord refers are contained in the Trustee Investments Act 1961, which the Government have under review. Any powers of investment otherwise conferred on trustees by a trust deed may be varied following an application to the court by a trustee; or a beneficiary.