19. (1) Subject to any directions of the Court, a guardian may invest any trust funds to his hands, whether at the time in a state of investment or not, in manner folllowing-
(a) in any securities in which trustees in England are for the time being authorised by the Law of England to invest trust funds;
(b) in any securities the interest on which is guaranteed by Government;
(c) in any debentures, bonds, stocks or securities issued under the authority of any Law or in respect of any loan raised by Govvernment;
(d) in any debentures, bonds, stocks or securities of any public body or local authority in the Colony the revenues whereof are under the control of the Goverment;
(e) on the security of a charge of immovable property, provided that such property shall be situate within the limits of a municipal corporation and the sum to be invested is not more than two-thirds of the value of such property.
For the purposes of this paragraph “value” has the same meaning as in section 2 of the Immovable Property (Tenure, Registration and Valuation) Law;
and may also from time to time vary any such investment as aforesaid.
(2) The Court may authorize a guardian to invest any trust funds in a bank or Co-operative Society registered under the provisions of the Co-operative Societies Law, for a fixed term not exceeding two years.