Subject to the
instrument creating the trust —
(a) a
trustee may apply capital money subject to a trust in payment of calls on
shares subject to the same trust; and
(b) if
the trustee is a trustee corporation, it may exercise the powers conferred by
this section despite the shares on which the calls are made being shares in
the trustee corporation.
[Section 23 inserted: No. 1 of 1997 s. 6.]