(1) If it appears to the trustees of a charity that any claim against a person in relation to the charity may, with advantage to the charity, or should, in the special circumstances of the case, be compromised, the trustees or that person, with the consent of the trustees, may submit to the Board a statement and proposal for a compromise.

(2) If it appears to the trustees of a charity that any claim by any person against the charity or them may, with advantage to the charity, or should, in the special circumstances of the case, be compromised, the trustees or that person, with the consent of the trustees, may submit to the Board a statement and proposal for a compromise.

(3) Where the Board, after such inquiry as they think necessary, are of opinion that the proposal, with or without modification, is fit and proper and for the benefit of the charity, the Board may make such order in relation to the compromise as they think fit.

(4) If it appears to the Board that any claim by or against them in respect of any property of which they are trustees may, with advantage to the charity, or should, in the special circumstances of the case, be compromised, the Board may compromise the claim.

(5) Where a claim is authorised to be or is compromised under this section, then, upon due performance of the terms and conditions of the compromise, no action shall lie in respect of the claim.