589.Section 387 brings the GLA and the functional bodies within the scope of the Trustee Investments Act 1961. That Act makes provision about the investment powers of trustees where these are not specifically set out in a trust deed. It imposes restrictions on the range of investments that trustees might select, particularly on wider range investments such as equities.
Commentary on Sections Part Xi: Miscellaneous and General Provisions Section 387: The Trustee Investments Act 1961