sec.306Application of s 305 in relation to particular powers exercised, or purportedly exercised, before commencement

sec.306 Application of s 305 in relation to particular powers exercised, or purportedly exercised, before commencement

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the relevant period, the trustees of a prescribed trust exercised, or purported to exercise, a power mentioned in the repealed Act, section 109(1) in relation to the trust; and the exercise, or purported exercise, of the power is valid only because of section 302. Section 305 applies in relation to the power as if the power were a former prescribed power mentioned in section 304(2). Also, section 305 applies in relation to the exercise, or purported exercise, of the power as if the exercise, or purported exercise, of the power were the exercise of a former prescribed power mentioned in section 304(2). (sec.306-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the relevant period, the trustees of a prescribed trust exercised, or purported to exercise, a power mentioned in the repealed Act, section 109(1) in relation to the trust; and the exercise, or purported exercise, of the power is valid only because of section 302. (sec.306-ssec.2) Section 305 applies in relation to the power as if the power were a former prescribed power mentioned in section 304(2). (sec.306-ssec.3) Also, section 305 applies in relation to the exercise, or purported exercise, of the power as if the exercise, or purported exercise, of the power were the exercise of a former prescribed power mentioned in section 304(2).

• (a) 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the relevant period, the trustees of a prescribed trust exercised, or purported to exercise, a power mentioned in the repealed Act, section 109(1) in relation to the trust; and
• (b) the exercise, or purported exercise, of the power is valid only because of section 302.