“21

• “(1) Notwithstanding the fiduciary rights, obligations, and liabilities of the new company whether pursuant to this Act or otherwise, the new company is hereby authorised to transact with the parent company or any subsidiary of the parent company or any company associated with the parent company any business in connection with any estate or trust property that it may administer from time to time where, after considering all the circumstances of the case (including appropriate business arrangements offered by other companies), the new company is satisfied on reasonable grounds that it is in the best interests of the estate or trust property to do so; and, notwithstanding any enactment or rule of law to the contrary, the parent company or any subsidiary of the parent company or any company associated with the parent company shall be entitled to receive and retain all fees, premiums, commissions, and other payments properly chargeable in respect of such business in the same manner as it or they would have been entitled to do if the new company had not been a trustee of such estate or the new company were not, in respect of the parent company, a subsidiary, or, in respect of any other subsidiary of the parent company or any company associated with the parent company, a related company.

  “(2) Any payment to which subsection (1) of this section applies shall be clearly identified in the account rendered in respect of the estate or trust property.”