125 Power of court to waive requirement of consent to termination, variation, or resettlement of trust

(1)

The court may waive the requirement that a beneficiary consent to the termination of a trust under section 121 or the variation or resettlement of a trust under section 122.

(2)

An application for an order of waiver of consent may be made by—

(a)

the trustees or any one of them:

(b)

any person with a beneficial interest in the trust property.

(3)

On an application for an order of waiver of consent, the court must take into account each of the following factors:

(a)

the nature of any person’s interest in the trust property and the effect of the proposed order on that interest:

(b)

the benefit or detriment that may result to any person with an interest in the trust property if the court makes or refuses to make the proposed order:

(c)

the intentions of the settlor of the trust in settling the trust, if it is practicable to ascertain those intentions.

(4)

The court must not make an order of waiver of consent if its effect would be to reduce or remove any vested interest in the trust property.

(5)

An order of waiver of consent binds the person on whose behalf it is made and takes effect without any further step.