A trustee of a discretionary trust is not under a general duty to inform discretionary objects of distributions made in their favour, particularly where the trust deed provides for discharge upon payment into a bank account without requiring acknowledgement of receipt. The duty of any particular trustee depends on what is involved in faithfully carrying out the office of being trustee of that particular trust, having regard to the terms of the trust deed and the social or business environment in which the trust operates. A defined term 'Income' referencing annual accounts sets a quantitative maximum for distributions, not a temporal restriction preventing interim distributions before accounts are finalised.
The full text is available to signed-in members, including the 37 later cases that cite this judgment.
6 of the 37 citing cases carry a classified treatment. How each court treated it is available to signed-in members.