Section 66: Variation of trust

66. Variation of trust (1) The Court, on the application of any person having an interest in the trust on behalf of— (a) a minor or a person under legal disability having, directly or indirectly, an interest, vested or contingent, under a trust; (b) any person unborn; (c) any person, ascertained or not, who may become entitled, directly or indirectly, to an interest under a trust, as being (at a future date or on the happening of a future event) a person of any specified description or a member of any specified class; or (d) any person, in respect of an interest that may accrue to him by virtue of the exercise of a discretionary power on the failure or determination of an existing interest, may, subject to subsection (2), approve any arrangement which varies or revokes the terms of a trust or enlarges or modifies the powers of management or administration of any trustees, whether or not there is another person with a beneficial interest who is capable of assenting to the arrangement. (2) The Court shall not approve an arrangement on behalf of a person mentioned in subsection (1) (a), (b) or (c) unless the arrangement appears to be for his benefit.