sec.302Validation provision for exercise, or purported exercise, of particular powers during relevant period

sec.302 Validation provision for exercise, or purported exercise, of particular powers during relevant period

This section applies if, during the relevant period, the trustees of a prescribed trust exercised, or purported to exercise, a power mentioned in the repealed Act, section 109(1) in relation to the trust. The exercise, or purported exercise, of the power is taken to be, and always to have been, as valid as it would be or would have been if— a declaration mentioned in the repealed Act, section 109(3) had been in force for the prescribed trust; and the trustees had complied with— any limitation that applied under the repealed Act, section 109(4) and (5) in relation to the prescribed trust; and the repealed Act, section 109(6). In this section— prescribed trust means a prescribed trust within the meaning of the repealed Act, section 107. See section 306 in relation to the application of section 305 if the exercise, or purported exercise, of a power is validated under this section. See also section 222 of this Act and the repealed Act, section 122 in relation to the validation of other matters in relation to prescribed trusts. (sec.302-ssec.1) This section applies if, during the relevant period, the trustees of a prescribed trust exercised, or purported to exercise, a power mentioned in the repealed Act, section 109(1) in relation to the trust. (sec.302-ssec.2) The exercise, or purported exercise, of the power is taken to be, and always to have been, as valid as it would be or would have been if— a declaration mentioned in the repealed Act, section 109(3) had been in force for the prescribed trust; and the trustees had complied with— any limitation that applied under the repealed Act, section 109(4) and (5) in relation to the prescribed trust; and the repealed Act, section 109(6). (sec.302-ssec.3) In this section— prescribed trust means a prescribed trust within the meaning of the repealed Act, section 107.

• (a) a declaration mentioned in the repealed Act, section 109(3) had been in force for the prescribed trust; and
• (b) the trustees had complied with— (i) any limitation that applied under the repealed Act, section 109(4) and (5) in relation to the prescribed trust; and (ii) the repealed Act, section 109(6).
• (i) any limitation that applied under the repealed Act, section 109(4) and (5) in relation to the prescribed trust; and
• (ii) the repealed Act, section 109(6).
• (i) any limitation that applied under the repealed Act, section 109(4) and (5) in relation to the prescribed trust; and
• (ii) the repealed Act, section 109(6).
• 1 See section 306 in relation to the application of section 305 if the exercise, or purported exercise, of a power is validated under this section.
• 2 See also section 222 of this Act and the repealed Act, section 122 in relation to the validation of other matters in relation to prescribed trusts.