50R. Power of manager to apply property to maintenance, education and other reasonable purposes of ward.
- Where the trust property or any part of it is held by a trustee in trust for a minor, the manager may, at his discretion, pay to the guardian (if any) of such minor, or otherwise apply for or towards his maintenance or education or advancement in life, or the reasonable expenses of his religious worship, marriage or funeral, the whole or any part of the income to which he may be entitled in respect of such property; and the manager shall accumulate all the residue of such income by way of compound interest by investing the same and the resulting income thereof from time to time in any of the securities mentioned in Section 50-1, for the benefit of the person who shall ultimately become entitled to the property from which such accumulations have arisen.
