s 5 Enlargement of powers of investment.
(1) A trustee having power to invest in real securities may invest and shall be deemed always to have had power to invest— (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (b) on any charge, or upon mortgage of any charge, made under the Improvement of Land Act, 1864. (2) A trustee having power to invest in real securities may accept the security in the form of a charge by way of legal mortgage, and may, in exercise of the statutory power, convert an existing mortgage into a charge by way of legal mortgage. (3) A trustee having power to invest in the mortgages or bonds of any railway company or of any other description of company may invest in the debenture stock of a railway company or such other company as aforesaid. (4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .