The Lok Sabha today passed the Indian Trusts Amendment,Bill 2015 to remove the archaic provisions of the 133 year old legislation which have no relevance. The bill seeks to empower the Central Government to notify a class of securities for the purposes of investment of trust-money by the trustees. <br/><br/>It also seeks to do away with the requirement of case to case approval by the Government for investment in any security. The bill also provides greater autonomy and flexibility for the trustees to take decisions on investment of trust money based on their assessment of the risk return. <br/><br/>The bill was moved by Minister of State for Finance Jayant Sinha for consideration and passing in the House. The bill was passed by a voice vote amidst sloganeering against the government by the Congress members.