§ Mr. Tilneyasked the Chancellor of the Exchequer what provision there is by Her Majesty's Government to ensure that, when securities of public boards in the narrow range of trustee investments cease through partial or whole default to be eligible investments in the narrower range of trustee securities, the trustee's portfolio is balanced by topping up the narrow range by other eligible investments.
§ Mr. Maurice MacmillanThe Trustee Act, 1925, provides that a trustee is not liable for breach of trust if he continues to hold an investment which has ceased to be authorised for trustees; nor is he required to top up the narrower-range part of his trust fund if it contains such an investment.
As for the responsibilities of the Government, I would refer the hon. Member to the answer I gave him earlier today.