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Express dispositive powers

The reference to one or more persons in the capital condition (I5.511), and the inclusion of unborn persons among 'the beneficiaries'¹, suggest that it applies where it is satisfied by a class of persons looked at collectively, even though the members of the class looked at individually do not satisfy it. Once that is accepted, it is difficult to see any incompatibility in principle between a power to vary the prospective benefit to be received by the beneficiaries and the capital condition.

A question which arises in relation to the substituted capital condition (but not in relation to the original capital condition) is whether it is met where there is the possibility that a beneficiary may become entitled to an interest in possession before attaining the age of 18. For example, the statutory power of advancement might apply to the trusts and it is conceivable that it could be exercised prior to a beneficiary attaining