TRUSTEE ACT 1925 - SECT 50 Deposit for safe custody

TRUSTEE ACT 1925 - SECT 50

    (1)     A trustee may deposit any documents held by him or her relating to the trust, or the trust property, with any bank or with any incorporated company whose business it is to undertake the safe custody of documents.

    (2)     Any sum payable in respect of the deposit may be paid out of the income of the trust property.

    (3)     This section applies to a trust except so far as the contrary intention appears in the trust instrument.