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Powers & Property - convergence, confounding or status quo
2016 Trust Symposium
The growth of the use of discretionary trusts in Australia as a commercial vehicle has caused the nature of the rights of those in control of such vehicles, where they may also benefit, directly or indirectly from the exercise of such control to be much more closely considered. It is the characterisation of such rights and the right to benefit whether directly or indirectly from the exercise of those rights, or of that control, as property or something in the nature of property, in some recent decisions, but not others, that raises for consideration whether the concepts of property and powers are converging, being confounded or whether this is simply the status quo.
This paper will examine that issue and in doing so consider the evolving concept of what is property and the possible changing nature of a power.
Bernard Walrut, Murray Chambers
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