sec.132Trustee may impose conditions

sec.132 Trustee may impose conditions

This section applies to a trustee in exercising a power, whether under division 2 or 3 or the trust instrument— to pay or apply an amount of trust income for a beneficiary’s maintenance, education or advancement (including past maintenance or advancement); or to pay or apply an amount out of relevant capital, or apply a part of relevant capital, for any of those purposes. The trustee may impose conditions on the payment or application of the amount or on the application of the part of the relevant capital. Without limiting subsection (2) , a condition may require— the repayment of— the amount paid or applied; or the value of the part of the relevant capital applied; or the payment of interest on the amount or value; or the giving of security for the amount or value. However, at any time after imposing a condition under subsection (2) , the trustee may— waive all or part of the condition; or release all or part of an obligation undertaken, or security given, because of the condition. A trustee, when imposing a condition about giving security, is not affected by any restriction on the investment of trust funds, whether imposed under this Act or otherwise. (sec.132-ssec.1) This section applies to a trustee in exercising a power, whether under division 2 or 3 or the trust instrument— to pay or apply an amount of trust income for a beneficiary’s maintenance, education or advancement (including past maintenance or advancement); or to pay or apply an amount out of relevant capital, or apply a part of relevant capital, for any of those purposes. (sec.132-ssec.2) The trustee may impose conditions on the payment or application of the amount or on the application of the part of the relevant capital. (sec.132-ssec.3) Without limiting subsection (2) , a condition may require— the repayment of— the amount paid or applied; or the value of the part of the relevant capital applied; or the payment of interest on the amount or value; or the giving of security for the amount or value. (sec.132-ssec.4) However, at any time after imposing a condition under subsection (2) , the trustee may— waive all or part of the condition; or release all or part of an obligation undertaken, or security given, because of the condition. (sec.132-ssec.5) A trustee, when imposing a condition about giving security, is not affected by any restriction on the investment of trust funds, whether imposed under this Act or otherwise.

• (a) to pay or apply an amount of trust income for a beneficiary’s maintenance, education or advancement (including past maintenance or advancement); or
• (b) to pay or apply an amount out of relevant capital, or apply a part of relevant capital, for any of those purposes.
• (a) the repayment of— (i) the amount paid or applied; or (ii) the value of the part of the relevant capital applied; or