ABSTRACT
The policy of s 32 is to invest trustees with a discretion to appoint up to onehalf of the presumptive share of the capital of the beneficiary for his advancement or benefit.
The value of the presumptive share of the beneficiary is measured on the date of the advancement. If the ceiling concerning the statutory power of advancement has been reached (that is, one quarter of the presumptive share of capital) the statutory power of advancement would be exhausted even if the value of the capital increases subsequently, see Marquess of Abergavenny v Ram.
