sec.262Costs etc. of inquiries about beneficiaries

sec.262 Costs etc. of inquiries about beneficiaries

Section 120 applies in relation to the costs, expenses and charges incurred by a trustee in making inquiries to ascertain the existence or whereabouts of a beneficiary of the trust, whether the costs, expenses and charges were incurred before or after the commencement. However, for a trust created before the commencement, section 120 applies as if the reference in section 120(3) to an express contrary intention in the trust instrument were a reference to a contrary intention in the trust instrument. (sec.262-ssec.1) Section 120 applies in relation to the costs, expenses and charges incurred by a trustee in making inquiries to ascertain the existence or whereabouts of a beneficiary of the trust, whether the costs, expenses and charges were incurred before or after the commencement. (sec.262-ssec.2) However, for a trust created before the commencement, section 120 applies as if the reference in section 120(3) to an express contrary intention in the trust instrument were a reference to a contrary intention in the trust instrument.