CO129-557-12 Armstrong and Turner v. Estate Duty Commissioner- appeal to Privy Council 18-5-1936 - 2-10-1936 — Page 102

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The relevant portion of the said clause 5 is as

follows :

5.

I bequeath the following annuities all clear

of all death duties and income tax payable to the

respective persons hereinafter enumerated commencing

from my death by equal quarterly payments the first

payment in each case to be made at the expiration

of Three months from my death :

(a) To my wife during her life the ennusl sum

of Ten thousand Pounds Sterling.

By clause 13 of the said Fill the testator declared

that his trustees should be at liberty, if they so thought fit, to set apart out of his residuery estate investments

sufficient to produce the said sanuity.

The text of Clanse 13 is as follws :-

13. I declara that my Trustees anall be at

liberty if they so think it to appropriate and set apart out of my residuary estate investments representing such a capital fund as shall at the time of appropriation be sufficient to produca the annual sume directed to be paid by Clause Five

of this my will with such a liberal margin for

contingencies es in the opinion of my Trustees

shall be sufficient And I doolers that when such

appropriation has been made the said annual suns

shall be wholly charged on the investments so appropriated in exoneration of the rest of my estate but that the capital of such appropriated investments may be resorted to in case at any time the income there of is insufficient to pay any such

annual sum or sums And I further declare that on

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