In a testamentary trust directing trustees to 'pay transfer and hand over' income and profits to a life tenant, the phrase 'income and profits derived therefrom' encompasses dividends, interest and realised capital gains, but does not extend to unrealised capital gains. The direction to 'pay transfer and hand over' requires that the subject matter be capable of being paid, transferred and handed over, which unrealised gains are not. The meaning of 'profits' is context-dependent and there is no universal legal meaning applicable in every circumstance.
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