7(1)Where, in a case falling within section 31(1) of this Act, the interest in land which was acquired or sold was subject to a trust, and accordingly the compensation or purchase price was payable to the trustees of that trust, any reference (however expressed) in section 31 or section 33 of this Act to the person entitled to the compensation or purchase price shall be construed as a reference to the trustees for the time being of the trust.
(2)Where the preceding sub-paragraph applies, section 31(4) of this Act shall not apply.
(3)Any compensation paid to the trustees of a trust by virtue of section 31 of this Act in respect of a compulsory acquisition or sale by agreement shall be applicable by the trustees as if it were proceeds of the sale of the interest acquired or sold.