Prospective
(1)Where a beneficiary under a trust has entered into enjoyment of—
(a)an alimentary liferent of, or
(b)any alimentary income from,
the trust property, or any part of the trust property, an arrangement to vary or revoke the alimentary purpose in question requires the authorisation of the court under this section as well as agreement or approval given in accordance with section 59.
(2)The court may give authorisation under this section if it considers that the carrying out of the arrangement would be reasonable having regard to—
(a)the income of the beneficiary from all sources, and
(b)such other factors as seem to the court to be material.
(3)The powers of the court under this section are exercisable on the application of the trustees or of any of the beneficiaries.
(4)Subsection (1) does not apply to an alimentary purpose created by a woman in her own favour prior to 24th July 1984.
(5)In this section, “alimentary purpose” means a trust purpose entitling the beneficiary to an alimentary liferent of, or alimentary income from, the trust property or any part of the trust property.
(6)This section—
(a)applies irrespective of when the trust was created, but
(b)does not apply as respects a private purpose trust or a public trust.
Commencement Information
I1S. 62 not in force at Royal Assent, see s. 88(3)