"prescribed power" , in relation to a prescribed trust, means:
(a) a power
referred to in section 22B included in the trust instrument, or
(b) the power
referred to in section 22C as applying to the prescribed trust.
(2) This Act
applies to a prescribed trust as if the prescribed power were a power
exercisable for a charitable purpose.
(3) Without limiting subsection (2):
(a) neither the existence nor the exercise of the prescribed power affects the
validity or status of a charitable trust as a charitable trust, and
(b) a
prescribed trust is to be construed and given effect to in the same manner in
all respects as if:
(i) the prescribed power were a power exercisable for a
charitable purpose, and
(ii) any payment or application of the trust property
or the trust income, or any part of either of them, in the manner allowed by
the power were to or for a charitable purpose, and
(c) the existence or
exercise of the prescribed power does not affect the control of a prescribed
trust by the Court in the exercise of the Court's general jurisdiction with
respect to charitable trusts, and
(d) the jurisdiction referred to in
paragraph (c) extends to the prescribed power as if the power were exercisable
for a charitable purpose.
(4) The provision, before the commencement day, by
the trustees of a prescribed trust of money, property or benefits to or for an
eligible recipient or for the establishment of an eligible recipient:
(a) is
taken to be, and always to have been, a provision for an authorised and valid
purpose of the prescribed trust, and
(b) does not affect, and is taken never
to have affected, the status of the prescribed trust as a charitable trust.
This subsection applies despite anything to the contrary in the trust
instrument.
(5) The inclusion of a power referred to in section 22B in the
trust instrument of a prescribed trust before the commencement day is taken to
be, and always to have been, validly included.