59Capital may be applied for maintenance, education, etc.

##### 59. Capital may be applied for maintenance, education, etc. A trustee may at any time or times pay or apply any capital money or other capital asset subject to a trust, for the maintenance, education (including past maintenance or education), or the advancement or benefit, in such manner as he may in his absolute discretion think fit, of any person entitled to the capital of the trust property or any share thereof, whether absolutely or contingently on his attaining any specified age or on the occurrence of any other event, or subject to a gift over on his death under any specified age or on the occurrence of any other event, and whether in possession or in remainder or reversion, and any such payment or application may be made notwithstanding that the interest of that person is liable to be defeated by the exercise of a power of appointment or revocation or by the operation of the rule against perpetuities or to be diminished by the increase of the class to which he belongs; but — (a) the money or asset so paid or applied for the maintenance, education, advancement or benefit of any person shall not exceed altogether $2 000 or half of the presumptive or vested share or interest of that person in the trust property, whichever is the greater; and (b) where that person or any other person is or becomes absolutely and indefeasibly entitled to the share of the trust property in which that person had a presumptive or vested interest when the money or asset was so paid or applied, that money or asset shall be brought into account as part of that share of the trust property; and (c) that payment or application shall not be made so as to prejudice any person entitled to any prior life or other interest, whether vested or contingent, in the money or asset paid or applied, unless that person is in existence and of full age and consents in writing to the payment or application, or unless the Court, on the application of the trustee, so orders. [Section 59 amended: No. 113 of 1965 s. 8.]