 Rules on the acquisition of land are covered in Part III of the Act . Until the passage of the Act , trustees had no right to purchase land with trust money , with two exceptions ; first , if the trust instrument authorised or required the trustee to purchase land and second , Section 6 ( 4 ) of the Trusts of Land and Appointment of Trustees Act 1996 , which allowed trustees to buy land either as an investment or for habitation by the beneficiaries . 
