131   Trust Fund

(1)  The Trust Fund shall consist of the following assets:

(a)  all money and land held by the corporation by way of deposit or in trust for any person,

(b)  all money and land assigned, conveyed, bequeathed or devised to the corporation in trust for the purpose of any function which the corporation is by or under this Act empowered to exercise,

(c)  all money received as a result of the investment of the Trust Fund as authorised by this Act.

(2)  The Trust Fund shall be applied as follows:

(a)  where the money or land is held by way of a deposit or in trust for any person, the money may be paid or the land may be assured to or on behalf of the person entitled thereto, but if the money has remained in the Trust Fund for 10 years, the corporation may transfer it to such Development Fund as it may deem proper, subject to repaying it from that fund to any person entitled thereto,

(b)  except as otherwise provided in this section, for the purposes and according to the trusts upon which the money or land is held by the corporation,

(c)  by investment in securities authorised under the Trustee Act 1925 or for the purposes of and according to the trusts referred to in paragraph (b).