Report No. 66
8.55. Recommendation to amend section 6 to authorise creation of trust subsequently.-
We now take up the next point concerning section 6. Where the insured has not created a trust in favour of his wife or children, it should be open to him to create it at any time subsequently during the subsistence of the policy. At present, section 6 does not seem to allow such a course, but we are of- the opinion that it should be allowed, having regard to the fact that by reason of a change of circumstances since the issue of the policy, it may be necessary for the insured to thank about the matter again. Such necessity may arise not only where the insured was a bachelor at the time of the policy, but also where, though married, he did not avail himself of the beneficial provisions of the section. We recommend that this should be provided.
Back
