Paragraph (2) applies where an application is made for legal representation.
Where the legal person owns solely, jointly or in common with other persons, any interest on the termination of a prior estate—
whether—
legal or equitable;
vested or contingent; or
in reversion or remainder; and
whether in real or personal property or in a trust or other fund,
the Director must calculate the value of such interest in such manner as appears to the Director to be both equitable and practicable.