(1970 Proceedings, pages 35, 117)
1. Sections .............. of the Trustee Act are repealed and the following substituted therefor:
Investment powers of trustees
00. Unless trustee is otherwise authorized or directed by an express provision of the law or of the will or other instrument creating the trust or defining his powers and duties, he may invest trust money in any kind of property, real, personal or mixed, but in so doing, he shall exercise the judgment and care that a man of prudence, discretion and intelligence would exercise as a trustee of the property of others.
Interim deposit of trust money
00. A trustee may, pending the investment of any trust money, deposit it during such time as is reasonable in the circumstances in any bank or trust company or in any other corporation empowered to accept moneys for deposit which has been approved for such purpose by the Lieutenant Governor in Council
Application of sections 00, 00
00. Sections 00 and 00 apply to trustees acting under trusts arising before or after the coming into force of this Act.