Section 25
of International Trusts Order, 2000
Section 25
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
15
BLUV as at 16th December 2010
same falling into possession or becoming payable or transferable, may do any of the following –
(a)
agree or ascertain the value of it or any part of it in such manner as they may think fit;
(b)
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.
Obtaining valuation.