Part 1Trusts
Chapter 3Powers and duties of trustees
Apportionment
I126Time apportionment
1
Except in so far as the trust deed expressly provides otherwise (or, in a case where there is no trust deed, the context requires otherwise), the trustees may determine that amounts mentioned in section 2 of the Apportionment Act 1870 (which provides for rents, dividends and other periodical payments to be apportionable in respect of time) are—
a
to be apportioned as mentioned in that section, or
b
not to be apportioned in such manner, but instead to accrue as they arise.
2
This section applies irrespective of when the trust was created.