Chequers Estate Act 1958

10 U.K. The following clauses shall be inserted after clause 8 of the deed:—

“8A For the purposes of section twenty-nine of the Settled Land Act 1925 the trusts hereof shall be deemed to be public trusts and accordingly the powers referred to in subsection (1) of that section shall be exercisable by the administrative trustees in relation to the Chequers Estate PROVIDED that the powers to sell lease or exchange land and the power to raise money on the security of land—

(a) shall not apply to the mansion house or to the gardens adjacent thereto or any part thereof, and

(b) shall not be exercised in respect of any other part of the Chequers Estate unless the transaction has previously been approved by the person who (on the date of the contract of sale or other contract in question) is the Prime Minister.

8B The administrative trustees shall secure that all woodlands for the time being comprised in the Chequers Estate shall be managed in accordance with the rules or practice of good forestry.

8C Without prejudice to the generality of clause 8A hereof the administrative trustees shall have power to cut and sell any timber on the Chequers Estate but where any such timber is sold by the administrative trustees the whole of the net proceeds of sale shall be treated as capital money arising as mentioned in clause *6A hereof and shall be paid to the Public Trustee accordingly.

8D The purposes for which money may be raised by mortgage shall (in addition to the purposes authorised by section seventy-one of the Settled Land Act 1925) include the payment of any compensation from time to time payable in respect of any part of the Chequers Estate under the Agricultural Holdings Act 1948.

8E The administrative trustees may sell any of the chattels from time to time vested in the custodian trustee upon the trusts hereof and where any such chattels are sold the net proceeds of sale may either be dealt with as capital money in accordance with clause 6A hereof or may be applied as if they were income of the Chequers Trust Fund or may be invested by the administrative trust in the purchase of other chattels of the same or any other nature which when purchased shall be held by the custodian trustee upon and subject to the same trusts and powers as the chattels sold PROVIDED that the power to sell chattels under this clause shall not be exercised except in pursuance of a decision of the trustees in which the chairman of the trustees concurs.”