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The conditions referred to in I5.551 which must be secured by the trust are as follows¹:

1. Ìý

   (a)ÌýÌýÌýÌý that the under 25 year old ('B'), if he has not done so before attaining the age of 25, will on attaining that age become absolutely entitled to:

2. 1. Ìý

      •ÌýÌýÌýÌý the settled property

   2. Ìý

      •ÌýÌýÌýÌý any income arising from it, and

   3. Ìý

      •ÌýÌýÌýÌý any income that has arisen from the property held on the trusts for his benefit and been accumulated before that time

3. Ìý

   (b)ÌýÌýÌýÌý that, for so long as B is living and under the age of 25, if any of the settled property is applied for the benefit of a beneficiary, it is applied for the benefit of B, and

4. Ìý

   (c)ÌýÌýÌýÌý that, for so long as B is living and under the age of 25, either:

5. 1. Ìý

      •ÌýÌýÌýÌý B is entitled to all of the income (if there is any) arising from any of the settled property, or

   2. Ìý

      •ÌýÌýÌýÌý for property transferred