(17) All capital profit made on the realization of S. 113(17) investments from a Common Fund (except amended by No. 30/2004 Common Fund No. 3) must also be carried to the s. 3(9). credit of the Common Funds Guarantee and Reserve Account. (18) Money standing to the credit of the Common Funds Guarantee and Reserve Account may be applied for all or any of the following purposes: (a) Payment to a Common Fund of an amount equivalent to any capital loss incurred on realization of any investment made from the Common Fund; (b) Payments of any costs and expenses incurred in protecting investments made from a Common Fund; (ba) Payments of any costs, expenses and charges S. 113(18)(ba) inserted by incurred in respect of staff employed in No. 30/2004 connection with the administration of a s. 3(10). Common Fund as in the opinion of the Senior Master are properly chargeable against the Common Funds Guarantee and Reserve Account; (bb) Payments of any costs, expenses and charges S. 113(18)(bb) inserted by incurred in respect of— No. 30/2004 s. 3(10). (i) legal advice obtained in relation to a person, estate or trust; or (ii) legal proceedings to which a person, estate or trust is a party— as in the opinion of the Senior Master are properly chargeable against the Common Funds Guarantee and Reserve Account and not against a particular person, estate or trust because of the general interest and importance of the subject matter of the advice or proceedings;
S. 113(17) amended by No. 30/2004 s. 3(9). (17) All capital profit made on the realization of investments from a Common Fund (except Common Fund No. 3) must also be carried to the credit of the Common Funds Guarantee and Reserve Account. (18) Money standing to the credit of the Common Funds Guarantee and Reserve Account may be applied for all or any of the following purposes: (a) Payment to a Common Fund of an amount equivalent to any capital loss incurred on realization of any investment made from the Common Fund; (b) Payments of any costs and expenses incurred in protecting investments made from a Common Fund; S. 113(18)(ba) inserted by No. 30/2004 s. 3(10). (ba) Payments of any costs, expenses and charges incurred in respect of staff employed in connection with the administration of a Common Fund as in the opinion of the Senior Master are properly chargeable against the Common Funds Guarantee and Reserve Account; S. 113(18)(bb) inserted by No. 30/2004 s. 3(10). (bb) Payments of any costs, expenses and charges incurred in respect of— (i) legal advice obtained in relation to a person, estate or trust; or (ii) legal proceedings to which a person, estate or trust is a party— as in the opinion of the Senior Master are properly chargeable against the Common Funds Guarantee and Reserve Account and not against a particular person, estate or trust because of the general interest and importance of the subject matter of the advice or proceedings;