f28 The Three Certainties 3 INTRODUCTION This chapter is concerned with the core ingredients of a valid trust which are often described as the three certainties. A short summary of this paper. Re Gulbenkian Settlement Trusts (No.1) [1970] A.C. 508 . . Issue: Consider appropriateness of individual appointments. 1 7 . Re Poche - shielding T through exculpatory clauses will not work if T has been dishonest, in willful breach of trust, or grossly negligent36. Grand View Private Trust Company Ltd v Wong considers whether the exercise of a power to add a beneficiary (subsequent to which the entirety of the trust's significant assets were transferred to that beneficiary) is valid. . (1) the original case and the 'rule' in england the background facts to the court of appeal decision in re hastings-bass may be summarised with reference to two settlements.75 the '1947 settlement' was established for the benefit of captain peter hastings-bass on his marriage and conferred a life interest on him with remainder to his children and … This settlement, arising from a class action antitrust lawsuit called In re: Blue Cross Blue Shield Antitrust Litigation MDL 2406, N.D. Ala. Master File No. This duty was considered in Re Hay's Settlement Trusts [1981] 3 All ER 786 and held to be an active process involving the trustee periodically considering whether or not to exercise its power in an informed way, considering the range of possible beneficiaries and the appropriateness of each individual disposition (also discussed in Re Manisty's . Knight v. Knight 1840. establish the requirement of the so-called three certainties in order to create a valid trust. In Re Hay's Settlement Trusts , Sir Robert Megarry VC said (at 792): That brings me to the second point, namely, the extent of the fiduciary obligations of trustees who have a mere power vested in them, and how far the Court exercises control over them in relation to that power. It was hereditary and on his death would pass to his successors in the male line of descent. 3. In this case the trustees were given a power to add objects to a class of potential beneficiaries which excluded the settlor, his wife and certain named persons. Schmidt v Rosewood Trust Ltd (Isle of Man) - Casemine . keech v sandford case summary. In re Hay's S.T. Re Manisty's Settlement Power of appointments; duties of trustees/ powers of beneficiaries If a person within the ambit of the power is aware of its existence he can require the trustees to c onsider exercising the power and in particular to consider a request on his part for the power to be exercised in his favour .