International Trusts Order, 2000 · s 94

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s 94Termination and modification by beneficiaries

(1)

Notwithstanding any rule of equity or practice of the Court to the contrary, but subject to section 59(5), neither a beneficiary who is solely interested in the trust property, nor all the beneficiaries who together are all the persons interested in it, shall be entitled, though in existence and ascertained and of full capacity, to terminate or modify the trusts affecting the property, if this would either be contrary to the terms of the trust instrument or would defeat a material purpose of the settlor in creating the trust, unless the settlor is living and also consents.

(2)

The material purposes of the settlor for the purpose of subsection (1)

may be ascertained from the trust instrument (directly or by inference) or by collateral evidence.