Section 63 — Trusts Act 2019: Trustee’s powers with respect to income of child beneficiary

63 Trustee’s powers with respect to income of child beneficiary (1) While a beneficiary is a child, a trustee may use the income on the beneficiary’s interest in 1 or more of the following ways: (a) invest the income (as defined in section 62 ): (b) accumulate the income: (c) make a payment under section 62 for the beneficiary’s welfare. (2) If either of the following applies, the trustee must hold the income for the beneficiary absolutely: (a) the beneficiary’s interest is a vested interest and the child turns 18: (b) the beneficiary, on turning 18, is entitled to the property from which the income arose. Compare: 1956 No 61 s 40(2)