New South Wales Consolidated Acts

SUCCESSION ACT 2006 - SECT 45

45 Effect of referring to a valuation in a will

(1) This section applies if--

(a) there is an express or implied requirement in a will that a valuation of property be made or accepted for a purpose, and

(b) either--

(i) the will does not provide an effective method of valuation, or

(ii) the method of valuation is not provided for by a law of New South Wales or of another place.

(2) The reference to the valuation in the will is to be construed, to the extent the method of valuation is not provided for as mentioned in subsection (1) (b) (i) or (ii), as if the reference were a reference to a valuation of the property at the date of the testator's death made by a competent valuer.

(3) Subsection (2) does not apply if a contrary intention appears in the will.