Part 1Trusts
Chapter 8Powers of the court
Variation and termination of private trusts
I160Giving of approval by court
1
The court is to give approval under section 59(5) only if it is of the opinion that the carrying out of the arrangement in question would not be prejudicial to the person on whose behalf the approval is sought.
2
Except that subsection (1) does not apply where the approval is sought under—
a
paragraph (c) of section 59(5) on behalf of a potential beneficiary who cannot be ascertained if the court is satisfied that there is no reasonable likelihood of the event taking place which would make that person a beneficiary, or
b
paragraph (d) of that section if the court is satisfied that there is no reasonable likelihood of the person on whose behalf the approval is sought being born.
3
In considering, for the purposes of subsection (1), whether the carrying out of an arrangement would be prejudicial to a person the court may have regard to—
a
any economic or other benefit which the person is likely to receive from the arrangement,
b
any economic or other detriment which the person is likely to sustain in consequence of the arrangement,
c
the welfare of any member of the person’s family, and
d
such other factors as seem to the court to be material.
4
a
applies irrespective of when the trust was created, but
b
does not apply as respects a private purpose trust or a public trust.