144 ADR process for internal matter if trust has beneficiaries who are unascertained or lack capacity

(1)

If a trust has any beneficiaries who are unascertained or lack capacity, then, for a matter relating to that trust that is subject to an ADR process,—

(a)

the court must appoint representatives for those beneficiaries; and

(b)

those representatives may agree to an ADR settlement, or agree to be bound by an arbitration agreement and any arbitral award under that agreement, on behalf of the beneficiaries who are unascertained or lack capacity; and

(c)

any ADR settlement must be approved by the court.

(2)

If representatives have been appointed under subsection (1) for beneficiaries who are unascertained or lack capacity,—

(a)

the representatives must act in the best interests of the beneficiaries on whose behalf they have been appointed; and

(b)

the court may order that a representative’s costs be paid out of the trust property; and

(c)

the court may make any order that it thinks fit regarding the terms of a representative’s appointment.

(3)

This section applies only to internal matters.