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  • Equity and Trust 2 Ueq3622

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    Azreen Azlan
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    A trustee may appoint a substitute trustee to temporarily perform their duties by making an application under Section 35 of the Trustees Act 1949. The substitute trustee assumes the responsibilities of the original trustee during the appointment period. Tim and Rene, beneficiaries of a discretionary trust, are challenging the trustee Ted's decision to distribute the entire year's income of RM15,000 to Darren, their nephew. They argue Ted made this decision only to help Darren repay a RM20,000 personal loan from Ted. Tim and Rene want to prevent this distribution and compel Ted to divide the income equally among the three beneficiaries.

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    362746_TUTORIAL 4

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    A trustee may appoint a substitute trustee to temporarily perform their duties by making an application under Section 35 of the Trustees Act 1949. The substitute trustee assumes the responsibilities of the original trustee during the appointment period. Tim and Rene, beneficiaries of a discretionary trust, are challenging the trustee Ted's decision to distribute the entire year's income of RM15,000 to Darren, their nephew. They argue Ted made this decision only to help Darren repay a RM20,000 personal loan from Ted. Tim and Rene want to prevent this distribution and compel Ted to divide the income equally among the three beneficiaries.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    11 views1 page

    Equity and Trust 2 Ueq3622

    Uploaded by

    Azreen Azlan
    A trustee may appoint a substitute trustee to temporarily perform their duties by making an application under Section 35 of the Trustees Act 1949. The substitute trustee assumes the responsibilities of the original trustee during the appointment period. Tim and Rene, beneficiaries of a discretionary trust, are challenging the trustee Ted's decision to distribute the entire year's income of RM15,000 to Darren, their nephew. They argue Ted made this decision only to help Darren repay a RM20,000 personal loan from Ted. Tim and Rene want to prevent this distribution and compel Ted to divide the income equally among the three beneficiaries.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    EQUITY AND TRUST 2 UEQ3622

    TUTORIAL 4

    1. A trustee may engage somebody else to replace him and carry out his duties
    temporarily. Explain this by reference to statutory provision and further explain the
    procedure involved.

    2. Ted is the sole trustee of an exhaustive discretionary trust of income. The objects of
    which are the nephews and the nieces of Sarah. Sarah has two nephews, Darren and
    Tim and one niece, Rene.

    10 months ago, Ted lent Darren the sum of RM20,000 out of his (Ted’s) own money. Tim
    and Rene have now learned that Ted has decided to pay the entire income of trust for
    the present year, some RM15,000 to Darren. Tim and Rene claimed that Ted exercised
    his discretion under the trust in Darren’s favour only in order to allow Darren to have
    sufficient funds to repay the loan from Ted. Rene and Tim wish to have the proposed
    exercise of the discretion prevented, and further wish to compel Ted to distribute the
    income for the present year among all three objects equally.

    Discuss.

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