Question
A settlor transfers £500,000 to trustees to hold 'on trust to apply the income, at their absolute discretion, for the benefit of any of the employees and former employees of Westbrook Engineering Ltd and their relatives, in such shares as the trustees think fit'. The company has employed about 2,000 people since it was founded. The trustees say they cannot compile a list of every former employee's relatives.
Suggested time: about 2 minutes. Choose the single best answer, then read why each option is right or wrong.