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Funds are held in trust for the benefit of the discretionary beneficiaries nominated in the extract registered will. The trustees make payments from the funds annually to the discretionary beneficiaries in such proportions as they in their absolute discretion think fit. The trustees may at any time pay to or apply for the benefit of any one or more of the discretionary beneficiaries any part or the whole of the capital of the trust fund as they in their absolute discretion think fit.