Report No. 66
IV. Trusts Act
5.13. Provisions in the Trusts Act.-
So much as regards the history of the restraint on anticipation and the developments in England relevant to the subject-matter of proviso to section 10 of the Transfer of Property Act. Provisions relating to the restraint on anticipation occur also in sections 56 and 58 of the Indian Trusts Act, 1882. In view of our recommendation later in this Report to amend section 10 of the Transfer of Property Act, 18821, it is necessary to amend these two sections of the Trusts Act2 also, and we recommend accordingly. The two sections, as they now stand, are quoted below:
"56. Right to specific execution.-The beneficiary is entitled to have the intention of the author of the trust specifically executed to the extent of the beneficiary's interest;
Right to transfer of possession.-and, where there is only one beneficiary and he is competent to contract, or where there are several beneficiaries and they are competent to contract and all of one mind, he or they may require the trustee to transfer the trust-property to him or them, or to such person as he or they may direct.
When property has been transferred or bequeathed for the benefit of a married woman, so that she shall not have power to deprive herself of her beneficial interest, nothing in the second clause of this section applies to such property during her marriage." (Illustrations not quoted).
58. Right to transfer of beneficial interest.-The beneficiary, if competent to contract, may transfer his interest, but subject to the law for the time being in force as to the circumstances and extent in and to which he may dispose of such interest:
Provided that when property is transferred or bequeathed for the benefit of a married woman, so that she shall not have power to deprive herself of her beneficial interest, nothing in this section shall authorise her to transfer such interest during her marriage."
They will require suitable amendment, as already stated.
1. See discussion as to section 10, Transfer of Property Act, 1882 (Chapter 15).
2. Sections 56 and 58, Indian Trust Act, 1882.