Vol. 496 No. 3
242 Mr. Quinn asked the Minister for Finance his role and views on the options available to courts and court officers in investing moneys paid into court; his views on whether these options need to be expanded to the full range of financial instruments; and if he will make a statement on the matter. [22620/98]
Section 3 of the Trustee (Authorised Investments) Act, 1958 provides that money under the control or subject to the order of any court may be invested in any of the investments specified in section 1 of that Act and shall not be invested in any other manner. Section 2 of the Act gives the Minister for Finance power to vary by order the list of investments specified in section 1. An order was made by the Minister for Finance under that provision on 9 February, 1998 entitled the Trustee (Authorised Investments) Order, 1998. The order came into operation on 9 March, 1998. The order replaces the previous list of investments in which trust funds may be invested with a new extended list. The new list contains general categories of securities, deposits, collective investment schemes, life assurance contracts and equities.
