Perpetual Trustee Company Ltd [2016] NSWSC 1273

Supreme Court New South Wales

Medium Neutral Citation: Perpetual Trustee Company Ltd [2016] NSWSC 1273 Hearing dates: 24, 25 and 30 August 2016 Decision date: 13 September 2016 Jurisdiction: Equity Before: Stevenson J Decision: Advice given that trustee justified in forming the opinion that funds distributed from the trust were applied for a non-charitable purpose. Declaration made that, on the proper construction of the trust that, once the trustee forms one of the opinions in the proviso, it is obliged to pay the relevant funds to such well-established and well organised charity as it may select and is not required or permitted to review that decision. Catchwords: TRUSTS AND TRUSTEES – JUDICIAL ADVICE – charitable trust in a will – whether trustee justified in forming opinion that beneficiary has ceased to operate under its fundamental objects and purposes or has not applied funds distributed for relevant charitable purpose – proper construction of the relevant parts of the will Legislation Cited: Charitable Trusts Act 1993 (NSW) Companies Act 1936 (NSW) Corporations Act 2001 (Cth) Trustee Act 1925 (NSW) Cases Cited: Commissioner of Taxation v Bargwanna (2012) 244 CLR 655; HCA 11 Finch v Telstra Super Pty Limited (2010) 242 CLR 254; HCA 36 In re Peel [1936] 1 Ch 161 In the application of NSW Trustee & Guardian [2014] NSWSC 423 Inland Revenue Commissioners v Helen Slater Charitable Trust Ltd [1982] 1 Ch 49 Perrin v Morgan [1943] AC 399 Category: Principal judgment Parties: Perpetual Trustee Company Limited (Plaintiff) Australian Youth and Health Foundation (Interested Party) Representation: Counsel: B A Coles QC with S Robertson and P F Santucci (Plaintiff) N Cotman SC (on 24 & 25 August 2016) with D D Knoll (Interested Party)