(z) By inserting immediately after section 300 thereof, the following new section, 300A. (1) Any person beneficially interested in any immovable property vested in a personal representative may apply by petition to the court for a partition thereof and the court, if satisfied that such partition would be beneficial to all persons interested and would not be economically undesirable, may appoint one or more arbitrators to effect the same. (2) The report and final award of such arbitrators, setting forth the particulars of the immovable property allotted to each of the parties interested, shall, subject to any law or laws for the time being in force, when signed by them and confirmed by order of the court, be effectual to vest in each allottee the immovable property so allotted; and, if such allotment be made subject to the charge of any money payable to any other party interested for equalizing the partition, such charge shall take effect according to the terms and conditions in regard to time mode of payment and otherwise which shall be expressed in such award.” (aa) In section 304, by substituting the words “or authorized by law” for the words “the High Court may, by special order, or by any general rule to be made from time to time, authorize or direct” occurring therein; (bb) In section 306, by substituting the words “are authorized by law” for the expression “the High Court may, by special order, or by any general rule to be made from time to time authorize or direct” (cc) In section 308, by substituting the words “are authorized by law” for the words “the High Court may for the time being regard as good securities” occurring therein; (dd) By inserting immediately after section 311 thereof, the following new section, 311A. Where any person entitled to a share in the distribution of the estate of an intestate is a minor, the personal representative shall pay or deliver the same into the court by which probate or letters of administration were granted to the account of such minor and the same may be invested in such securities as are authorized by law: Provided that the court may, on its own motion or on the application of the personal representative or any other person, appoint the parent or guardian of such minor or the personal representative or the public trustee or some other suitable person to receive the share of such minor on his behalf and in such case payment to such person so appointed shall be a sufficient discharge of the personal representative: