The court considered how the trustees of a pension scheme could appropriate different parts of the funds as between long standing and new classes of members.
Held: Objects (that is, those who had only recently qualified as beneficiaries) could not benefit from what he called stale income (that is, income which ought to have been distributed at an earlier date).
Judges:
Goulding J
Citations:
[1977] 1 WLR 1323
Cited by:
Cited – Bank of New Zealand v Board of Management of the Bank of New Zealand Officers’ Provident Association PC 14-Jul-2003
PC (New Zealand) The defendant operated a superannuation scheme for and on behalf of the officers of the bank it regulated. The trustees ought to amend the scheme, but it had been set up by statute.
Held: . .
Lists of cited by and citing cases may be incomplete.
Trusts
Updated: 16 May 2022; Ref: scu.195609