No difference
R was a beneficiary of a Scottish trust fund comprising part of the property from a larger settlement. Under a variation of the settlement made in 1984 the trustees were granted the power to determine by minute 'the share of the … fund to the income of which any such beneficiary is to be entitled upon attaining [the age of 21]'. By assignation dated 7 March 1989 R assigned to the trustees acting under a deed of trust the Barclay trust the whole share and interest in the fund to which he would become in any way entitled on or after he reached the age of 21. This was a discretionary trust in which no interest in possession subsisted.
In 1990 before R's 21st birthday the trustees determined by minute that R was entitled to the whole fund less £1 000 ...
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