Contents

Chapter 10
Revocation and variation

Application to existing trusts

10.31We see no difficulty with the new revocation and variation provisions recommended in this chapter applying to all trusts, whether settled before or after the enactment of the new Act.

10.32Where proceedings have been commenced under the current variation provisions of the Trustee Act (section 64 or section 64A) there are two workable options for dealing with the transition. First, existing proceedings could simply be completed under the existing provisions of the Trustee Act. Where proceedings are part heard they may need to be completed under the Trustee Act anyway. The second option would be for the provisions replacing sections 64 and 64A to apply, and for the court to make orders under those provisions. We think that any final decision about how existing proceedings under the current Act should be treated is probably best made during the preparation of a draft Bill.