(1) The Minister for Finance may by order vary by addition or deletion and may specify such conditions as he considers proper in respect of the investment of trust funds in -

(a) the investments specified in section 1 (as amended by section 1 of this Act) of the Trustee Act, 1893, or

(b) where those investments have been varied by order under this subsection or under any other statutory authority, those investments as so varied.

(2) Every order made under this section shall be laid before each House of the Oireachtas as soon as may be after it is made and if either such House, within the next subsequent twenty-one days on which it has sat after such order is laid before it, passes a resolution annulling such order, such order shall be annulled accordingly, but without prejudice to the validity of anything previously done thereunder.

(3) Before making an order under this section the Minister shall consult -

(a) the President of the High Court,

(b) the Governor of the Central Bank,

(c) the Public Trustee,

(d) the Chairperson of the Irish Bankers Federation,

(e) the President of the Law Society of Ireland, and

(f) the Chairperson of the Irish Stock Exchange,

in regard to the terms of the proposed order.