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An Act to facilitate the temporary Investment of Trust Monies in the
Improvement of Landed Property in Ireland.{1} [25th June 1847] ... Whereas it
may happen that there are now or hereafter may be in the hands or standing to
the account of trustees or a trustee of a settlement or will or codicil monies
produced by the sale or received for equality of exchange of settled estates
or hereditaments in Ireland, under a power of sale or exchange, or under
trusts for sale, in such settlement or will or codicil contained, or stocks or
securities purchased with such monies, and which monies are liable to be laid
out in the purchase of other estates or hereditaments in Ireland or elsewhere,
to be settled to the same or the like uses or upon and for the same or the
like trusts and purposes as the estates or hereditaments from the sale or
exchange of which such monies were produced, and there may be now or hereafter
monies in the hands or standing to the account of trustees or a trustee of a
settlement, will, or codicil, produced by a sale or sales of settled lands or
hereditaments in Ireland, compulsory or otherwise, made to or for the purposes
of a railway or other public work, or other monies, stocks, or securities
liable to be laid out in the purchase of lands or hereditaments, and which
monies respectively may be advantageously advanced for the purpose of being
laid out in the permanent improvement of the lands or hereditaments remaining
unsold or in settlement for the time being, and there may be now or hereafter
monies or stocks or securities in the hands or standing to the account of
trustees or guardians for infants or others under legal disability, or monies
of persons of unsound mind, which may be advantageously advanced for the
purpose of being employed in the permanent improvement of the estates of such
infants, persons of unsound mind, or others under legal disability:[
© 1847 Crown Copyright
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