Certainty of objects for discretionary trusts is whether it can be said, with certainty, that any given individual is or is not a member of that class
1 of 6
Re Baden (No.2)
If an individual cannot establish that they are a member of the class, they must be held not to be a member. Conceptual certainty- can the group be meaningfully defined? No conceptual uncertainty in 'dependants' or 'relatives'
2 of 6
Gartside v IRC
None exhaustive disc trust. Collective entitlement to fund but no individual entitlement- tee can give to whoever. Lord Reid 'two or more persons cannot have a single right unless they hold it jointly or in common'
3 of 6
Re Gestetner
No list needed as long as you can tell who they would be
4 of 6
Re Gulbenkian (No.1)
If there is discretion to select beneficiaries matching the decription given by settlor, it is a power. Denning 'I should have thought that in nearly every case there would be no difficulty' in deciding who fits into this class therefore clause not v
5 of 6
Mettoy Pention Trustees
Disc for employer to distribute surplus. Disc was fiduciary as beneficiaries had the right to be considered. Liquidators couldn't do it as powers ceased on liquidation so court had to adopt best scheme
6 of 6
Other cards in this set
Card 2
Front
If an individual cannot establish that they are a member of the class, they must be held not to be a member. Conceptual certainty- can the group be meaningfully defined? No conceptual uncertainty in 'dependants' or 'relatives'
Back
Re Baden (No.2)
Card 3
Front
None exhaustive disc trust. Collective entitlement to fund but no individual entitlement- tee can give to whoever. Lord Reid 'two or more persons cannot have a single right unless they hold it jointly or in common'
Back
Card 4
Front
No list needed as long as you can tell who they would be
Back
Card 5
Front
If there is discretion to select beneficiaries matching the decription given by settlor, it is a power. Denning 'I should have thought that in nearly every case there would be no difficulty' in deciding who fits into this class therefore clause not v
Comments
No comments have yet been made