Griffith Settlement Act, 1923

Trusts of the Son's Share.

3.—(1) The Trustees shall while the said Naomhan Griffith is under the age of twenty-five years hold the Son's Share upon trust in their absolute discretion to apply the whole or so much as they shall think fit of the Son's Share for the maintenance, education or benefit of the said Naomhan Griffith and may either themselves so apply the same or may pay the same for the purpose aforesaid to the said Mrs. Maud Griffith or other the guardian of the said Naomhan Griffith.

(2) The Trustees shall while the said Naomhan Griffith is under the age of twenty-one years accumulate so much of the Son's Share as is not applied under the foregoing sub-section by investing the same and the resulting income thereof from time to time in securities in which trustees are by law authorized to invest trust monies.

(3) The Trustees may at their absolute discretion at any time or times apply all or any part of the accumulations mentioned in the preceding sub-section as if the same were part of the Son's Share accruing in the then current year, and the Trustees shall pay and transfer to the said Naomhan Griffith on his attaining the age of twenty-one years so much of the said accumulations as is not applied by them in manner aforesaid but if the said Naomhan Griffith shall die before he attains the age of twenty-one years the Trustees shall on the death of the said Naomhan Griffith pay and transfer to the Exchequer of Saorstát Eireann so much as aforesaid of the said accumulations.

(4) From and after the said Naomhan Griffith attaining the age of twenty-one years the Trustees shall hold the Son's Share upon trust to pay the same as and when received by the Trustees to the said Naomhan Griffith.