New South Wales Consolidated Acts

TRUSTEE ACT 1925 - SECT 42A

42A Maintenance for adult beneficiaries

(1) If property is held in trust for an adult beneficiary for any kind of interest, whether vested or contingent or absolute or liable to be divested, the trustee may pay the beneficiary, or otherwise apply the whole or any part of the income of the property for or towards the maintenance, education or benefit of the beneficiary.

(2) This section--

(a) applies only if and to the extent a contrary intention is not expressed in the instrument, if any, creating the trust, and

(b) has effect subject to the terms and provisions of the instrument.

(3) This section extends to trusts created before the commencement of this section.

(4) In this section--

"adult beneficiary" means a beneficiary who is not an infant.

Note : Sections 43 and 43A make provision for the payment or application of trust income for or towards the maintenance or education of infant beneficiaries based on when the instrument creating the trust came into operation.