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Regulation 5 Method of calculating capital value of Trust Property

Original text. Later amendments are not shown.

The capital value of the Trust property shall be calculated as follows:–

(a)

investments quoted on a Stock Exchange – at last official traded price at 6th February 2004;

(b)

short term loans, bank and cash balances – at amounts outstanding or at credit at 6th February 2004;

(c)

subject to paragraph (d), other property and rights of, or held by, the Trust (of whatever kind) at market valuation as at 6th February 2004, by a valuer appointed by the Trust; and

(d)

any feudal superiority shall have a nil value.