Anloma Pty Ltd (A.C.N. 001 327 448) as Trustee for the Sourry Family Trust [2018] NSWSC 1818

Supreme Court New South Wales

Medium Neutral Citation: Anloma Pty Ltd (A.C.N. 001 327 448) as Trustee for the Sourry Family Trust [2018] NSWSC 1818 Hearing dates: 17 September 2018 Decision date: 28 November 2018 Jurisdiction: Equity Before: Rees J Decision: Orders made pursuant to application for judicial advice at [101]. Catchwords: EQUITY — Trusts and trustees — Judicial advice — Variation of trusts — Whether purported variations of Trust Deed within scope of variation clause — Whether variation clause extents to changing beneficiaries — Whether variation of beneficiaries affects "beneficial interests" — Whether implied trust arises — Variation valid — Further variations of beneficiaries valid — Power to characterise income and capital and vice versa valid — Proposed amendment to distribution date — Whether rule against perpetuities infringed — Proposed amendment valid — Proposed appointment of income and capital to new trust — Whether rule against perpetuities infringed — Proposed appointment valid — Judicial advice given. Legislation Cited: Life, Fire and Marine Insurance Act 1902 (NSW) Limitations Act 1969 (NSW), s 47(1)(c) Perpetuities Act 1984 (NSW), ss 4, 7, 8 Trustee Act 1925 (NSW), ss 63, 81 Cases Cited: Air Jamaica Ltd v Charlton [1999] 1 WLR 1399 Bamford v Bamford [1970] Ch 212 Byrnes v Kendle (2011) 243 CLR 253 Cisera v Cisera Holdings Pty Ltd [2018] NSWCA 286 Codelfa Construction Pty Ltd v State Rail Authority (NSW) (1982 149 CLR 337 Commissioner of Taxation v Bamford (2010) 240 CLR 481 Congregational Union of NSW v Thistlethwayte (1952) 87 CLR 375 Farrant v Blanchford (1863) 46 ER 42 Forrest v Federal Commissioner of Taxation [2010] FCAFC 6 Gartside v Inland Revenue Commissioners [1968] AC 553 at 617 Harris v King (1936) 56 CLR 177 Kearns v Hill (1990) 21 NSWLR 107 Lewis v Condon (2013) 85 NSWLR 99; [2013] NSWCA 204 Lutheran Church of Australia South Australia District Inc v Farmers' Co-op Executors and Trustees Ltd (1970) 121 CLR 628 Macedonian Orthodox Diocese of Australia and New Zealand (2008) 237 CLR 66 McPhail v Doulton [1971] AC 424 Mercanti v Mercanti (2016) 50 WAR 495; [2016] WASCA 206 Nemesis Australia Pty Ltd v Commissioner of Taxation [2005] FCA 1273 Perpetual Trustee Co Ltd v Tindal (1940) 63 CLR 232 Re Annandale [1986] 1 Qd R 353 Re Dion Investments Pty Ltd (2014) 87 NSWLR 753 Re Estate Late Chow Cho-Poon; Application for judicial advice [2013] NSWSC 844 Re Pilkinton's Will Trusts [1964] AC 612 Re Weekes' Settlement [1897] 1 Ch 289 Royal Botanic Gardens and Domain Trust v South Sydney City Council (2009) 240 CLR 45 Segelov v Ernst & Young Services Pty Ltd (2015) 89 NSWLR 431 Shead Real Estate Pty Ltd (in the matter of EA & F Shead (Chatswood) Trust) [2018] NSWSC 614 Stein v Sybmore Holdings [2006] NSWSC 1004 Winthrop Investments Ltd v Winns Ltd [1975] NSWLR 666 Texts Cited: Australian Law Dictionary, 2nd ed., Oxford University Press (2015) Ford and Lee: The Law of Trusts, looseleaf, Thomson Reuters Heydon & Leeming, Jacobs' Law of Trusts in Australia, 8th ed., LexisNexis Butterworths (2016) Jowitt's Dictionary of English Law, 4th ed., Thomson Reuters (2015) Parkinson, The Principles of Equity, 2nd ed., Lawbook Co. (2003) Category: Principal judgment Parties: Anloma Pty Ltd ACN 001 327 448 as trustee for the Sourry Family Trust - Applicant Representation: Counsel: D. Barlin - Applicant