Regulation 13
Where the right to claim any compensation under Part VII of the Act becomes exercisable by reference to an interest in land which is, at the time when the said right is exercisable, subject to a settlement, then—
the right to claim compensation shall be exercisable by the trustees of the settlement;
where a claim has been made by reference to such an interest as aforesaid and compensation falls to be paid, the compensation shall be paid to the trustees of the settlement, and to the extent that, as between the persons beneficially interested under the trusts of the settlement, any moneys so received by the said trustees ought to be treated as capital, such moneys shall be applicable as capital money under the Settled Land Act 1925, or as proceeds of sale arising under the trust for sale, as the case may be.