Legal long windedness

Anyone care to decipher this goobledegook?

Payment or transfer to settlement of which beneficiary is beneficiary

Notwithstanding the foregoing provisions, the Trustee may, with the consent of the Principal, at any time or times in its absolute discretion but free of any consideration pay or transfer the whole or any part of the Trust Fund to which no Beneficiary has a vested interest to the trustee or trustees for the time being of any settlement whereunder all or any of the Beneficiaries are beneficiaries whether absolutely contingently presumptively or prospectively to be held by such trustee or trustees as an addition to the property comprised in such other settlement free from the trusts powers and provisions hereof and regardless of the law governing such other settlement and regardless of the Courts to the jurisdiction of which such other trustee or trustees may be subject and regardless of whether the part or whole of the Trust Fund so transferred is or will be outside the State of New South Wales provided that no such payment or transfer shall be made to the trustee or trustees of any settlement where the trusts of such settlement would have infringed the rule against perpetuities had the trusts of such other settlement been set out in this Deed at the time of execution of this Deed and provided further that no such payment or transfer shall be made to the trustee or the trustees of any such settlement where any of the Ineligible Beneficiaries would receive any benefit thereunder.


It's a 238 word sentence. :eek:

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Is this part of a discretionary trust deed?

I'm not a solicitor but I think it is saying that the trustee has the right to transfer money belonging to the trust fund at its discretion as long as no one else has any interest in the money or the transfer is not breaking any laws. If the trustee transfers money and is found to breach any legislation, it will be liable!

I'm I even close to being right? any solicitors out there?
 
Xenia

It is from a HDT. Good effort. However, the sentence mentions that the transfer is 'regardless' of laws and courts, etc. Trustee would be indemnified by the HDT, no? ;)

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