Provisions of variant types of Trusts

A trust of a type approved under section 61(1) may provide that the trustee shall hold the trust property– (a) for a period not exceeding one hundred and twenty years, to pay or apply the income and capital thereof for the maintenance, education, advancement or benefit of the family of the settlor, and/or for the purpose of performing acts or services in honour of the settlor or the ancestors of the settlor; and (b) thereafter for the advancement of the settlor’s religion, or for such other charitable purpose 47 as the settlor may specify or, if the settlor has not specified a charitable purpose, for such charitable purpose as the trustee shall determine. PART X1