TRUSTS ACT 1973 - SECT 95 Power of court to authorise variations of trust

TRUSTS ACT 1973 - SECT 95

95 Power of court to authorise variations of trust

(1) Where property, whether real or personal, is held on trusts arising, whether before or after the commencement of this Act, under any instrument creating the trust, the court may if it thinks fit by order approve on behalf of—

(a) any person having, directly or indirectly, an interest, whether vested or contingent, under the trusts who by reason of infancy or other incapacity is incapable of assenting; or

(b) any person (whether ascertained or not) who may become entitled, directly or indirectly, to an interest under the trusts 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, so however that this paragraph shall not include any person who would be of that description, or a member of that class (as the case may be) if the said date had fallen or the said event had happened at the date of the application to the court; or

(c) any person unborn; or

(d) any person in respect of any discretionary interest of the person under protective trusts where the interest of the principal beneficiary 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 trusts, or enlarging the powers of the trustees of managing or administering any of the property subject to the trusts.

(1A) However, except—

(a) in the case of an unascertained person whose entitlement is dependent on a future event which the court is satisfied is unlikely to occur; or

(b) where the court approves of an arrangement on behalf of a person referred to in subsection (1) (d) ;

the court shall not approve an arrangement on behalf of any person unless the carrying out thereof would be for the benefit of that person.

(2) In subsection (1) —


"protective trusts" means the trusts specified in section 64 (1) (a) and (b) or any like trusts,
"the principal beneficiary" has the same meaning as in section 64 (1) and
"discretionary interest" means an interest arising under the trust specified in section 64 (1) (b) or any like trust.

(3) Notice of an application to the court for an order pursuant to subsection (1) shall be given to such persons as the court may direct.

(4) Nothing in subsections (1) to (3) shall apply to trusts affecting property settled by Act of Parliament.

(5) Nothing in this section shall limit the powers conferred by section 94 .