73 Modes of investment or application
Settled Land Act 1925 (1925 c 18) | Legislation

Part III Investment or other application of Capital Money

73  Modes of investment or application

(1)     Capital money arising under this Act, subject to payment of claims properly payable thereout and to the application thereof for any special authorised object for which the capital money was raised, shall, when received, be invested or otherwise applied wholly in one, or partly in one and partly in another or others, of the following modes (namely):—

[(i)     In investment in securities either under the general power of investment in section 3 of the Trustee Act 2000 or under a power to invest conferred on the trustees of the settlement by the settlement;]

(ii)     In discharge, purchase, or redemption of incumbrances affecting the whole estate the subject of the settlement, or of < . . . > , rentcharge in lieu of tithe, Crown rent, chief rent, or quit rent, charged on or payable out of the settled land, or of any charge in respect of an improvement created on a holding under the [Agricultural Holdings Act 1986], or any similar previous enactment;

(iii)     In payment for any improvement authorised by this Act;

(iv)     In payment as for an improvement authorised by this Act of any money expended and costs incurred

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