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Power of court to authorise dealings with trust property

Trustees Act 1967

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—(1) Where in the management or administration of any property vested in trustees, any sale, lease, mortgage, surrender, release, or other disposition, or any purchase, investment, acquisition, expenditure, or other transaction, is in the opinion of the court expedient, but the same cannot be effected by reason of the absence of any power for that purpose vested in the trustees by the trust instrument (if any) or by law, the court may —(a)by order confer upon the trustees, either generally or in any particular instance, the necessary power for the purpose, on any terms, and subject to any provisions and conditions that the court thinks fit; and(b)direct in what manner any money authorised to be expended and the costs of any transaction are to be paid or borne as between capital and income.(2) The court may, from time to time, rescind or vary any order made under this section, or may make any new or further order.(3) An application to the court under this section may be made by the trustees, or by any of them or by any person beneficially interested under the trust.

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