Cap. 331 ст. 36Variation of terms oftrustbythecourt and approval of particular transactions.

(1) Subject to the provisions of subarticle (2), the court may, if it thinks fit, by order approve on behalf of -

(a) any person incapacitated at law having directly or indirectly, an interest, whether vested or contingent, under the trust; or

(b) any person, whether ascertained or not, who may become entitled, directly or indirectly, to an interest under the trust as being at a future date or on the happening of a future event a person of any specified description or a member of any specified class of persons; or

(c) any person unborn; or

(d) any person in respect of any interest of his that may arise to him by reason of any discretionary power given to any one on the failure or determination of any existing interest that has not failed or determined, any arrangement, by whomsoever proposed and whether or not there is any other person beneficially interested who is capable of assenting thereto, varying or revoking all or any of the terms of the trust or enlarging the powers of the trustees of managing or administering any of the trust property.

(2) The court shall not approve an arrangement on behalf of any person coming within subarticle (1)(a), (b) or (c), unless it is satisfied that the carrying out of such arrangement appears to be for the benefit of that person.

(3) Where in the management or administration of a trust, any sale, lease, pledge, charge, surrender, release or other disposition, or any purchase, investment, acquisition, expenditure or other transaction is in the opinion of the court expedient but the same cannot be effected by reason of the absence of any power for that purpose vested in the trustee by the terms of the trust or by law, the court may confer on the trustee, either generally or in any particular circumstance, a power for that purpose on such terms and subject to such provisions and conditions, if any, as it thinks fit, and may direct in what manner and from what property any money authorised to be expended, and the costs of any transaction, are to be borne.

(4) Where trust property is set up for a charitable purpose and any of the circumstances mentioned hereunder apply, the Court may, on application of the trustee or the enforcer, declare that the property or the remainder of the property, as the case may be, shall be held for such other charitable purpose, as the case may be, as the Court considers to be consistent with the original intention of the settlor. The circumstances are that:

(a) the purpose of the trust has ceased for whatever reason to be charitable; or

(b) the charitable purpose has ceased in any other way to provide a suitable and effective method of using the property, regard being had to the spirit of the gift.

(5) An application to the court under sub-article (1) may be made by the trustee or by any beneficiary.