The following section is hereby substituted for section 1 of the Trustee Act, 1893:

"1. A trustee may, unless expressly forbidden by the instrument (if any) creating the trust, invest any trust funds in his hands, whether at the time in a state of investment or not, in manner following, that is to say:

(a) in securities of the Government (including Savings Certificates);

(b) in securities guaranteed as to capital and interest by the Minister for Finance;

(c) in the stock of the Bank of Ireland;

(d) in securities of the Electricity Supply Board;

(e) in securities of the Agricultural Credit Corporation, Limited;

(f) in securities of Bord na Móna;

(g) on real securities in the State;

(h) in securities or mortgages of any of the following authorities in the State:

(i) the council of a county,

(ii) the corporation of a county borough,

(iii) the corporation of Dun Laoghaire,

(iv) the Dublin Port and Docks Board,

(v) the Cork Harbour Commissioners,

(vi) the Limerick Harbour Commissioners,