Inheritance and Trustees’ Powers Bill [HL]

Page 1, line 18, leave out “simple”

Page 2, line 15, leave out from “rate” to end of line 27 and insert “shall be equal to
the annual rate of inflation as measured by the consumer price index.

(4)   After subsection (4) insert—”

Page 3, line 26, leave out “(other than a contingent interest in remainder)”

Page 4, line 31, at end insert—

“(6)   After paragraph (c) of that proviso, insert—

“Trustees may, in their absolute discretion, resolve at or before the time of exercising the power conferred by this subsection that the money or property so paid, transferred or applied, instead of being treated for the purposes of provisos (a) and (b) as having the value which it had at the date of payment, transfer or application, shall be treated as a percentage of the presumptive share of the beneficiary to whom it is paid, transferred or applied and be brought into account accordingly.””