Prospective
(1)The court may, on the application of the trustees, grant them additional powers of administration or management in relation to the trust property (being powers specified in the application).
(2)Before granting additional powers under subsection (1), the court must—
(a)take into account any objection timeously made by virtue of subsection (3), and
(b)be satisfied that the trustees having the additional powers in question would benefit the future administration or management of the trust property.
(3)An application under subsection (1) is to be intimated to the persons mentioned in subsection (4), any of whom may object to its being granted.
(4)The persons are—
(a)any supervisor,
(b)any protector,
(c)any beneficiary who has a vested interest in the trust property,
(d)such other persons as the court may specify.
(5)The court is to consider specifying under subsection (4)(d) any beneficiary who has a contingent interest, and any potential beneficiary, under the trust but—
(a)need not specify under that subsection any such beneficiary or potential beneficiary, and
(b)may specify under it a person other than any such beneficiary or potential beneficiary.
(6)The court may, in granting powers under subsection (1), impose such conditions as to the exercise of those powers as it thinks fit.
(7)This section applies irrespective of when the trust was created.
Commencement Information
I1S. 16 not in force at Royal Assent, see s. 88(3)