Trustee Act 1936

The Supreme Court may, on the application of a trustee, or of any person who has a vested, future, or contingent interest in property held on trust—

vary or revoke all or any of the trusts; or

where trusts are revoked—

distribute the trust property in such manner as the Court considers just; or

resettle the trust property upon such trusts as the Court thinks fit; or

enlarge or otherwise vary the powers of the trustees to manage or administer the trust property.

In any proceedings under this section the interests of all actual and potential beneficiaries of the trust must be represented, and the Court may appoint counsel to represent the interests of any class of beneficiaries who are at the date of the proceedings unborn or unascertained.

Before the Court exercises its powers under this section, the Court must be satisfied—

that the application to the court is not substantially motivated by a desire to avoid, or reduce the incidence of tax; and

that the proposed exercise of powers would be in the interests of beneficiaries of the trust and would not result in one class of beneficiaries being unfairly advantaged to the prejudice of some other class;

that the proposed exercise of powers would not disturb the trusts beyond what is necessary to give effect to the reasons justifying the exercise of the powers; and

that the proposed exercise of powers accords as far as reasonably practicable with the spirit of the trust.

An order made by the Supreme Court in the exercise of powers conferred by this section is binding upon all present and future trustees and beneficiaries of the trust.

This section does not apply to—

a trust affecting property settled by an Act; or

a charitable trust.

This section does not derogate from any other power of the Supreme