Section 63(1) of the Trustee Act 1958 (Vic) confers a power broad enough to authorise a managed sale of settled land, investment of proceeds, accumulation of income, and distribution of surplus income, even where the Settled Land Act 1958 (Vic) applies to the property. The court's power under s 63(1) is not constrained by the Settled Land Act, though orders should be compatible with its operation. When exercising the s 63(1) power, the court must balance the interests of all beneficiaries — both those with immediate interests and those with contingent or remainder interests — rather than treating one class as paramount. Under the Settled Land Act, tenants for life with a right of use and occupation (but no express right to income under the will) are entitled to rent from leasing settled land by virtue of the anti-avoidance provisions in s 106.
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