Termination by beneficiaries

(1) Without prejudice to any power of the Court and notwithstanding the terms of the trust, where all the beneficiaries are in existence and have been ascertained, and none is a person under legal disability or a minor, and all 39 beneficiaries are in agreement so to do, they may require the trustee to terminate the trust and distribute the trust property as the beneficiaries direct. (2) A beneficiary of an interest under a protective or spendthrift trust may not enter into such an agreement as is referred to in sub-section (1).