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Contents

Part III

25. Reversionary interests, valuation and audit

Where trust property includes any share or interest in property not vested in the trustees or the proceeds of the sale of any such property, or any other thing in action, the trustees on the same falling into possession or becoming payable or transferable, may do any of the following

{aJ agree or ascertain the value of it or any part of it in such manner as they may think fit;

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fbJ accept in or toward satisfaction of it, at the market or current value or upon any valuation or estimate of value which they may think fit, any authorised investments;

(c)

allow any deductions for taxes, duties, costs, charges and expenses which they think proper or reasonable;

(d)

execute any release in respect of the property so as effectually to discharge all accountable parties from all liability in respect of any matters coming within the scope of such release, without being responsible in any such case for any loss occasioned by any act or thing so done by them in good faith.

Report

Part IV

Protections and Indemnities of Trustees

Part VI

Part VII

Powers of the Court

Part VIII

Authorised Purpose Trusts

Part IX

Part X

Additional Provisions

Part XI

Governing Law

Schedules