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Court of Appeal Wellington
13, 14 August; 7 October 1963
North P., Turner J., McCarthy J.
13, 14 August; 7 October 1963
North P., Turner J., McCarthy J.
Charitable trust — Gift to charity subject to gift of part of income — Surplus income directed to be accumulated for benefit of charity — Rule against accumulations infringed — Whether Accumulations Act 1800 in force in New Zealand — Whether surplus income payable to charity — Whether cy-pres doctrine to be invoked — Principles to be applied.
Trusts and trustees — Rule against accumulations — Whether Accumulations Act 1800 in force in New Zealand — Property Law Act 1952, ss. 41, 155 (1).
Wills — Construction — Charitable gift subject to gift of part of income — Surplus income directed to be accumulated for benefit of charity — Rule against accumulations infringed — Whether Accumulations Act 1800 in force in New Zealand — Whether surplus income payable to charity — Whether cy-pres doctrine to be invoked — Principles to be applied.