In re Bell (Deceased) Perpetual Trustees Estate and Agency Company of New Zealand Limited v Bell - [1940] NZLR 15

Trusts and Trustees — Company Law — Shares and Shareholders — Discretion and Duty of Trustees in voting on Company Resolution authorizing capitalizing of Reserves, affecting relative Rights of Life Tenants and Remaindermen — Perpetual Debenture representing their Share of Capitalized Reserves, issued to Trustees of Will — Retention of Debenture not authorized by Will — Whether Court justified in empowering Trustees to retain it as Authorized Investment of Trust Fund — Whether Debenture to be treated as Capital in Administration of Estate — Whether Income from Debenture to be applied as Income of Trust Fund — Statutes Amendment Act, 1936, s 81.