sec.117Valuations

sec.117 Valuations

A trustee may, for the purpose of giving effect to the trust or the trust instrument or a provision of this Act or another Act, ascertain and fix the value of— the trust property; or any property the trustee is authorised to buy or otherwise acquire. The trustee may ascertain and fix the value in any way the trustee considers appropriate. If the trustee is not personally qualified to ascertain the value of any property, the trustee— must consult a properly qualified person, whether employed by the trustee or not, about the value of the property; but is not bound to accept a valuation made by the person. The value fixed by the trustee under this section and in accordance with the trustee’s duties under part 5 , divisions 2 and 3 is binding on all persons beneficially interested in the trust property. (sec.117-ssec.1) A trustee may, for the purpose of giving effect to the trust or the trust instrument or a provision of this Act or another Act, ascertain and fix the value of— the trust property; or any property the trustee is authorised to buy or otherwise acquire. (sec.117-ssec.2) The trustee may ascertain and fix the value in any way the trustee considers appropriate. (sec.117-ssec.3) If the trustee is not personally qualified to ascertain the value of any property, the trustee— must consult a properly qualified person, whether employed by the trustee or not, about the value of the property; but is not bound to accept a valuation made by the person. (sec.117-ssec.4) The value fixed by the trustee under this section and in accordance with the trustee’s duties under part 5 , divisions 2 and 3 is binding on all persons beneficially interested in the trust property.

• (a) the trust property; or
• (b) any property the trustee is authorised to buy or otherwise acquire.
• (a) must consult a properly qualified person, whether employed by the trustee or not, about the value of the property; but
• (b) is not bound to accept a valuation made by the person.