CO129-557-12 Armstrong and Turner v. Estate Duty Commissioner- appeal to Privy Council 18-5-1936 - 2-10-1936 — Page 77

87

Probate of The Will

9. NO child who shall take any part of the property hereby settled under an appointment by virtue of the powers hereinbefore contained shall in default of appointment to the contrary be entitled to any share of the unappointed Paul Chater, part thereof without bringing the share or shares appointed to him or her into deceased hotch pot and accounting for the same accordingly.

and Codicils of Sir

Catchick

(Continued)

10.

I DECLARE that my Trustees may (after the determination or failure of every prior life or other interest or interests if any) apply the whole or any part at their discretion of the income of the expectant contingent pre- sumptive or vested share or legacy of any person who shall be under the age of Twenty-one years and being a female a spinster under any of the trusts or dis- 10 positions contained in this my Will or any Codicil hereto for or towards his or her maintenance education or benefit and may either themselves so apply the same or may pay the same to the parent or Guardians or Guardian of such person for the purpose aforesaid without seeing to the application thereof AND SHALL during the minority of any such person being male and minority and spinsterhood of any such person being a female accumulate the surplus if any of such income at compound interest by investing the same and the resulting income thereof in any of the investments hereby authorised in augmentation and so as to follow the destination of the share or legacy from which the same shall have proceeded but with power to apply any such accumulations in any subsequent 20 year for or towards the maintenance education or benefit of the child for the time being presumptively entitled as aforesaid in the same manner as such accumulations might have been applied had they been income arising from the said share or legacy in the then current year.

11.

I AUTHORISE my Trustees after the determination or failure of every prior life or other interest or interests if any or previously thereto with the consent in writing of every person in existence for the time being entitled to any such prior interest or interests whether vested or contingent to raise any part or parts of the then expectant contingent presumptive or vested share por- tion or legacy of any person under any of the trusts or dispositions of this my 30 Will or any Codicil hereto and to pay or apply the same for his or her advance- ment or benefit as my Trustees shall think fit.

12. I DECLARE that notwithstanding the trust for sale hereinbefore contained my Trustees may appropriate any real or personal property forming part of my residuary estate to or towards any legacy bequeathed by this my Will or any Codicil hereto or to or towards any of the funds created by Clause Eight (a), (b), (c) or (d) of this my Will or which may hereafter be created by any Codicil hereto and for the purposes aforesaid may fix the value of such real or personal property so appropriated or set apart as they shall think fit and every such appropriation setting apart and valuation shall be binding upon all persons 40 interested under this my Will Provided always that as regards any of the said funds the capital of which has not become distributable among the beneficiaries my Trustees may continue after such appropriation to exercise the power of sale investment and varying investments and other powers hereby or by law given to them.