sec.90Appropriation to satisfy legacy or share generally

sec.90 Appropriation to satisfy legacy or share generally

A trustee may appropriate any part of the trust property to satisfy all or part of— a legacy, payable out of the trust property, to which a person (an entitled person ) is entitled; or a share of the trust property, whether contingent or absolute, to which a person (also an entitled person ) is entitled. An appropriation of trust property under this section may be made only if— the appropriation does not adversely affect any specific gift of the trust property; and the entitled person consents to the appropriation; and for an appropriation in relation to which the trustee is an interested person, the appropriation has been approved by— each other interested person; or the court, on an ex parte application by the trustee or otherwise; and notice of the proposed appropriation has been given under section 88 ; and the circumstances mentioned in subsection (3) (a) , (b) or (c) apply. For subsection (2) (e) , the circumstances are— all of the following apply— the relevant application period for each interested person has ended; no interested person has, within the relevant application period for the person, started a variation application and served the application on the trustee; if any interested person has, since the end of the relevant application period for the person, started an extension application and served the application on the trustee—the extension application has been dismissed by the court; or if any interested person has started a variation application and served the application on the trustee within the relevant application period for the person or any longer period allowed by the court on an extension application—the variation application has been dismissed by the court; or each interested person has given the trustee notice under section 89 (1) (b) waiving the person’s right to make a variation application. For making an appropriation under this section, the trustee may, under section 117 , ascertain and fix the value of all or any part of the trust property as at the day the appropriation is made. An appropriation made under this section is conclusive and binding on all persons who are, or may be, interested in the trust property, unless varied by the court on a variation application. This section does not limit or otherwise affect any power of appropriation conferred under the trust instrument. This section applies subject to section 91 . In this section— relevant application period , for an interested person, means the following period within which a variation application by the interested person must be started— if paragraph (b) does not apply—the period mentioned in section 89 (2) ; if the interested person has given the trustee notice under section 89 (3) —the shorter period stated in the notice. (sec.90-ssec.1) A trustee may appropriate any part of the trust property to satisfy all or part of— a legacy, payable out of the trust property, to which a person (an entitled person ) is entitled; or a share of the trust property, whether contingent or absolute, to which a person (also an entitled person ) is entitled. (sec.90-ssec.2) An appropriation of trust property under this section may be made only if— the appropriation does not adversely affect any specific gift of the trust property; and the entitled person consents to the appropriation; and for an appropriation in relation to which the trustee is an interested person, the appropriation has been approved by— each other interested person; or the court, on an ex parte application by the trustee or otherwise; and notice of the proposed appropriation has been given under section 88 ; and the circumstances mentioned in subsection (3) (a) , (b) or (c) apply. (sec.90-ssec.3) For subsection (2) (e) , the circumstances are— all of the following apply— the relevant application period for each interested person has ended; no interested person has, within the relevant application period for the person, started a variation application and served the application on the trustee; if any interested person has, since the end of the relevant application period for the person, started an extension application and served the application on the trustee—the extension application has been dismissed by the court; or if any interested person has started a variation application and served the application on the trustee within the relevant application period for the person or any longer period allowed by the court on an extension application—the variation application has been dismissed by the court; or each interested person has given the trustee notice under section 89 (1) (b) waiving the person’s right to make a variation application. (sec.90-ssec.4) For making an appropriation under this section, the trustee may, under section 117 , ascertain and fix the value of all or any part of the trust property as at the day the appropriation is made. (sec.90-ssec.5) An appropriation made under this section is conclusive and binding on all persons who are, or may be, interested in the trust property, unless varied by the court on a variation application. (sec.90-ssec.6) This section does not limit or otherwise affect any power of appropriation conferred under the trust instrument. (sec.90-ssec.7) This section applies subject to section 91 . (sec.90-ssec.8) In this section— relevant application period , for an interested person, means the following period within which a variation application by the interested person must be started— if paragraph (b) does not apply—the period mentioned in section 89 (2) ; if the interested person has given the trustee notice under section 89 (3) —the shorter period stated in the notice.