The Will of Diana, Princess of Wales

 

I DIANA PRINCESS OF WALES of Kensington Palace London W8 HEREBY REVOKE all former Wills and testamentary dispositions made by me AND DECLARE this to be my last Will which I make this First day Of June One thousand nine hundred and ninety three

1 I APPOINT my mother THE HONOURABLE MRS FRANCES RUTH SHAND KYDD of Callinesh Isle of Seil Oban Scotland and COMMANDER PATRICK DESMOND CHRISTIAN JERMY JEPHSON of St James's Palace London SW1 to be the Executors and Trustees of this my Will

2 I WISH to be buried

3 SHOULD any child of mine be under age at the date of the death of the survivor of myself and my husband I APPOINT my mother and my brother EARL SPENCER to be the guardians of that child and I express the wish that should I predecease my husband he will consult with my mother with regard to the upbringing education and welfare of our children

4 (a) I GIVE free of inheritance tax all my chattels to my Executors jointly (or if only one of them shall prove my Will to her or him)

(b) I DESIRE them (or if only one shall prove her or him)

 

(i) To give effect as soon as possible but not later than two years following my death to any written memorandum or notes of wishes of mine with regard to any of my chattels
(ii) Subject to any such wishes to hold my chattels (or the balance thereof) in accordance with Clause 5 of this my Will
(c) FOR the purposes of this Clause "chattels" shall have the same meaning as is assigned to the expression "personal chattels" in the Administration of Estates Act 1925 (including any car or cars that I may own at the time of my death)

(d) I DECLARE that all expenses for the safe custody of and insurance incurred prior to giving effect to my wishes and for packing transporting and insurance for the purposes of the delivery to the respective recipients of their particular chattels shall be borne by my residuary estate

5 SUBJECT to the payment or discharge of my funeral testamentary and administration expenses and debts and other liabilities I GIVE all my property and assets of every kind and wherever situate to my Executors and Trustees Upon trust either to retain (if they think fit without being liable for loss) all or any part in the same state as they are at the time of my death or to sell whatever and wherever they decide with power when they consider it proper to invest trust monies and to vary investments in accordance with the powers contained in the Schedule to this my Will and to hold the same UPON TRUST for such of them my children PRINCE WILLIAM and PRINCE HENRY as are living three months after my death and attain the age of twenty five years if more than one in equal shares PROVIDED THAT if either child of mine dies before me or within three months after my death and issue of that child are living three months after my death and attain the age of twenty one years such issue shall take by substitution if more than one in equal shares per stirpes the share that the deceased child of mine would have taken had he been living three months after my death but so that no issue shall take whose parent is then living and so capable of taking

6 MY EXECUTORS AND TRUSTEES shall have the following powers in addition to all other powers over any share of the Trust Fund

(a) POWER under the Trustee Act 1925 Section 31 to apply income for maintenance and to accumulate surplus income during a minority but as if the words "my Trustees think fit" were substituted in sub-section (1)(i) thereof for the words "may in all the circumstances be reasonable" and as if the proviso at the end of sub-section (1) thereof was ommitted

(b) POWER under the Trustee Act 1925 Section 32 to pay or apply capital for advancement or benefit but as if proviso (a) to sub-section (1) thereof stated that "no payment or application shall be made to or for any person which exceeds altogether in amount the whole of the presumptive or vested share or interest of that person in the trust property or other than for the personal benefit of that person or in such manner as to prevent limit or postpone his or her interest in possession in that share or interest"

7 THE statutory and equitable rules of apportionment shall not apply to my Will and all dividends and other payments in the nature of income received by the Trustees shall be treated as income at the date of receipt irrespective of the period for which the dividend or other income is payable

8 IT is my wish (but without placing them under any binding obligation) that my executors employ the firm of Mishcon de Reya of 21 Southampton Row London WC1B 5HS in obtaining a Grant of Probate to and administering my estate

9 ANY person who does not survive me by at least three months shall be deemed to have predeceased me for the purpose of ascertaining the devolution of my estate and the income thereof

10 IF at any time an Executor or Trustee is a professional or business person charges can be made in the ordinary way for all work done by that person or his firm or company or any partner or employee

 

THE SCHEDULE
MY Executors and Trustees (hereinafter referred to as "my Trustees") in addition to all other powers conferred on them by law or as the result of the terms of this my Will shall have the following powers
1 (a) FOR the purposes of any distribution under Clause 5 to appropriate all or any part of my said property and assets in or toward satisfaction of any share in my residuary estate without needing the consent of anyone

(b) FOR the purposes of placing a value on any of my personal chattels (as defined by the Administration of Estates Act 1925) so appropriated to use if they so decide such value as may have been placed on the same by any Valuers they instruct for inheritance tax purposes on my death or such other value as they may in their absolute discretion consider fair and my Trustees in respect of any of my personal chattels which being articles of national scientific historic or artistic interest are treated on such death as the subject of a conditionally exempt transfer for the purposes of the Inheritance Tax Act 1984 Section 30 (or any statutory modification or re-enactment thereof) shall in respect of any such appropriation place such lesser value as they in their absolute discretion consider fair after taking into account such facts and surrounding circumstances as they consider appropriate including the fact that inheritance tax for which conditional exemption was obtained might be payable by the beneficiary on there being a subsequent chargeable event

(c) TO insure under comprehensive or any other cover against any risks and for any amounts (including allowing as they deem appropriate for any possible future effects of inflation and increasing building costs and expenses) any asset held at any time by my Executors and Trustees And the premiums in respect of any such insurance may be discharged by my Executors and Trustees either out of income or out of capital (or partly out of one and partly out of the other) as my Executors and Trustees shall in their absolute discretion determine and any monies received by my Executors and Trustees as the result of any insurance insofar as not used in rebuilding reinstating replacing or repairing the asset lost or damaged shall be treated as if they were the proceeds of sale of the asset insured PROVIDED ALWAYS that my Executors and Trustees shall not be under any responsibility to insure or be liable for any loss that may result from any failure so to do

2 (a) POWER to invest trust monies in both income producing and non-income producing assets of every kind and wherever situated and to vary investments in the same full and unrestricted manner in all respects as if they were absolutely entitled thereto beneficially

(b) POWER to retain or purchase as an authorised investment any freehold or leasehold property or any interest or share therein of whatever nature proportion or amount (which shall be held upon trust to retain or sell the same) as a residence for one or more beneficiaries under this my Will and in the event of any such retention or purchase my Trustees shall have power to apply trust monies in the erection alteration improvement or repair of any building on such freehold or leasehold property including one where there is any such interest or share And my Trustees shall have power to decide (according to the circumstances generally) the terms and conditions in every respect upon which any such person or persons may occupy and reside at any such property (or have the benefit of the said interest or share therein)

(c) POWER to delegate the exercise of their power to invest trust monies (including for the purpose of holding or placing them on deposit pending investment) and to vary investments to any company or other persons or person whether or not being or including one or more of my Trustees and to allow any investment or other asset to be held in the names or name of such person or persons as nominees or nominee of my Trustees and to decide the terms and conditions in every respect including the period thereof and the commission fees or other remuneration payable therefor which commission fees or other remuneration shall be paid out of the capital and income of that part of the Trust Fund in respect of which they are incurred or of any property held on the same trusts AND I DECLARE that my Trustees shall not be liable for any loss arising from any act or omission by any person in whose favour they shall have exercised either or both their powers under this Clause

(d) POWER to retain and purchase chattels of every description under whatever terms they hold the same by virtue of the provisions of this my Will And in respect thereof they shall have the following powers

 

(i) To retain the chattels in question under their joint control and custody or the control and custody of any of them or to store the same (whether in a depository or warehouse or elsewhere)
(ii) To lend all or any of the chattels to any person or persons or body or bodies (including a museum or gallery) upon such terms and conditions as my Trustees shall determine
(iii) To cause inventories to be made
(iv) Generally to make such arrangements for their safe custody repair and use as having regard to the circumstances my Trustees may from time to time think expedient
(v) To sell the chattels or any of them and
(vi) To treat any money received as the result of any insurance in so far as not used in reinstating replacing or repairing any chattel lost or damaged as if it were the proceeds of sale of the chattel insured

(e) POWER in the case of any of the chattels of which a person of full age and capacity is entitled to the use but when such person's interest is less than an absolute one

(i) To cause an inventory of such chattels to be made in duplicate with a view to one part being signed by the beneficiary for retention by my Trustees and the other part to be kept by the beneficiary and to cause any such inventory to be revised as occasion shall require and the parts thereof altered accordingly
(ii) To require the beneficiary to arrange at his or her expense for the safe custody repair and insurance of such chattels in such manner as my Trustees think expedient and (where it is not practicable so to require the beneficiary) to make such arrangements as are referred to under paragraph (iv) of sub-clause (d) of this Clause
PROVIDED THAT my Trustees shall also have power to meet any expenses which they may incur in the exercise of any of their powers in respect of chattels out of the capital and income of my estate or such one or more of any different parts and the income thereof as they shall in their absolute discretion determine AND I FURTHER DECLARE that my Trustees shall not be obliged to make or cause to be made any inventories of any such chattels that may be held and shall not be liable for any loss injury or damage that may happen to any such chattels from any cause whatsoever or any failure on the part of anyone to effect or maintain any insurance

IN WITNESS whereof I have hereunto set my hand the day and year first above written

SIGNED by HER ROYAL HIGHNESS )
in our joint presence and )
then by us in her presence )

I DIANA PRINCESS OF WALES of Kensington Palace London W8 DECLARE this to be a First Codicil to my Will which is dated the first day of June One thousand nine hundred and ninety three

1. My Will shall be construed and take effect as if in clause 1 the name and address of Commander Patrick Desmond Christian Jermy Jephson were omitted and replaced by the following:

my sister Elizabeth Sarah Lavinia McCorquodale (known as The Lady Sarah McCorquodale) of Stoke Rochford Grantham Lincolnshire NG33 5EB

2. In all other respects I confirm my said Will.

IN WITNESS whereof I have hereunto set my hand this First day of February One thousand nine hundred and ninety six

SIGNED by HER ROYAL HIGHNESS )
in our joint presence and then )
by us in her presence )

 

Part 2 | Attachments and

 

The Will of Diana, Princess of Wales

 

IN THE HIGH COURT OF JUSTICE
FAMILY DIVISION

Lawrence Graham
190 Strand, London
WC2R 1JN
DX 39 LON/CH'RY LN WC2
Ref: MG/TTJ/H2858/1

The Principal Registry

In the estate of DIANA, PRINCESS OF WALES deceased

We, THE HONOURABLE MRS FRANCES RUTH SHAND KYDD of Callinesh, Isle of Seil, Oban, Scotland, THE LADY ELIZABETH SARAH LAVINIA McCORQUODALE of Grange Farm, Stoke Rochford, Grantham, Lincolnshire NG33 5RD and THE RIGHT REVERAND AND RIGHT HONOURABLE RICHARD JOHN CAREW CHARTRES of The Old Deanery, Deans Court, London EC4V 5AA, make oath and say that:

1. We believe the paper writing now produced to and marked by us to contain the true and original last Will and Testament with Codicil of Diana, Princess of Wales of Kensington Palace, London W8 4PU, deceased who died on the 31st day of August 1997 aged 36 years domiciled in England and Wales;

2. To the best of our knowledge, information and belief there was no land vested in the said deceased which was settled previously to her death and not by her Will which remained settled land nothwithstanding her death;

3. We, The Honourable Mrs. Frances Ruth Shand Kydd and The Lady Elizabeth Sarah Lavinia McCorquodale are the Executors named in the said Will with Codicil and I, The Right Reverand and Right Honourable Richard John Carew Chartres was appointed as an additional Executor by an Order made in The High Court of Justice Chancery Division (CH1997 No W 6888) and dated the 19th December 1997 pursuant to Section 1(1) of the Judicial Trustee Act 1896;

4. We will:

(i) collect, get in and administer according to the law the real and personal estate of the said deceased;

(ii) when required to do so by the Court, exhibit on oath in the Court a full inventory of the said estate and when so required render an account thereof to the court; and

(iii) when required to do so by the High Court, deliver up to that court the grant of probate;

5. To the best of our information and belief the gross estate passing under the grant amounts to £21,711,485 and the net estate amounts to £21,468,352.

SWORN by the above named Deponent
THE HONOURABLE MRS FRANCES RUTH SHAND KYDD /s/
at 190 The Strand London EC4
this 19th day of February 1998

Before me

 

 

--------------------------------------------------------------------------------

IN THE HIGH COURT OF JUSTICE
The Principal Registry of the Family Division

BE IT KNOWN THAT DIANA PRINCESS OF WALES

of Kensington Palace London W8

died on the 31st day of August 1997
domiciled in England and Wales

AND BE IT FURTHER KNOWN that the last Will and Testament with a Codicil of the said deceased (a copy of which is annexed) was proved and registered in the High Court of Justice and that Administration of all the estate which by law devolves to and vests in the personal representative of the said deceased was granted by the said Court on this date to the Executors

The Honourable FRANCES RUTH SHAND KYDD of Callinesh Isle of Seil Oban Scotland

and The Lady ELIZABETH SARAH LAVINIA McCORQUODAEL of Grange Farm Stoke Rochford Grantham Lincolnshire NG33 5BD

and The Right Reverend and Right Honourable RICHARD JOHN CAREW CHARTRES of The Old Deanery Deans Court London EC4V 5AA

It is hereby certified that it appears from information supplied on the application for this grant that the gross value of the said estate in the United Kingdom amounts to £21,468,352

Dated the 2nd day of March 1998

/s/
PROBATE OFFICER

Extracted by LAWRENCE GRAHAM (Ref: MG/TTJ/H2858/1) 190 The Strand London WC2R 1JN

 

 

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APPENDIX I
Part I

List of Items by reference to Christie's Catalogue

Page No. Description
108 75 Odenby x 4
94 341 Odenby Coffee svs
99 361 H Cockerel
123 409 Decanter
58 217 Carriage Clock
80 287 Dres c/s and pen tray
110 383 Shepherd/ess
28 95 Watercolour
103-105 372 Herend animals
35 128 Watercolour
34 124 Watercolour
109 378 Hunting figs.
110 386 Pt tea svs
103-105 372 Herend animals
110 381 Bird niodel
46 174 Model harp

 

Part II

List of Godchildren

Master Jack Bartholomew
Miss Clare Cazalet
Lord Downpatrick
Master Jack Faulkner
Master George Frost
The Lady Edwina Grosvenor
Miss Antonia Harrington
HRH Prince Phillipos of the Hellenes
The Hon Alexandra Knatchbull
Miss Leonora Lonsdale
Master Benjamin Samuel
Miss Daisy Soames
Miss Camilla Straker
Miss Antonia Twiston Davies
Master Jakie Warren
The Lady Mary Wellesley
Miss Domenica Lawson

 

 

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APPENDIX II
In this Appendix references to "the Trusts" shall be construed as referring to the trusts of the Discretionary Fund or of the Residuary Fund as the case may require and "the Trust Fund" shall be construed accordingly.

(1) Power as regards any monies for the time being subject to the Trusts and requiring investment to invest or lay out the same in the purchase or otherwise in the acquisition of or at interest upon the security of any shares stocks funds securities policies of insurance or other investments or property movable or immovable) of whatsoever nature and wheresoever situate and whether or not productive of income and whether involving liability or not or upon such personal credit with or without security in all respects as my Trustees shall in their discretion think fit to the intent that my Trustees shall have the same full and unrestricted powers of investing transposing investments and dealing with trust monies and buying or selling property in all respects as if they were absolutely entitled beneficially and so that

(a) the acquisition with trust monies of property with a view to its enjoyment in kind by a beneficiary or beneficiaries hereunder shall be deemed to be an investment thereof

(b) any immovable property situate anywhere in the world other than in England and Wales which may be acquired for any of the purposes of the Trusts including its enjoyment in kind) may either be vested in my Trustees upon trust for sale with power to postpone sale or held by such persons or person and in such manner as my Trustees may think fit

(c) nothing hereinbefore in this sub-paragraph contained shall in anyway exclude limit or restrict any power to purchase any legal estate in land situate in England and Wales which may be conferred on my Trustees by sub-sections (3) and (4) of Section 6 and by Section 17 of the Trusts of Land and Appointment of Trustees Act 1996

(2) Power to accept or acquire and to retain any assets subject or to be subject to the Trusts (including any uninvested money) in their actual state and condition for any period even although the whole or a substantial part of the assets so subject may be producing no or insufficient income.

(3) Power at any time or times to sell or convert or call in any investments or other property for the time being comprised in the Trusts or to transpose or convert the same into any other investments or property the acquisition of which is hereby authorised

(4) Power at any time or times to apply any money subject to the Trusts in making, improvements to or otherwise developing or using any land or buildings or in erecting enlarging repairing decorating making alterations to or improvements in or pulling down and rebuilding any buildings which shall or the proceeds of sale of which would be subject to the same trusts as the money so applied

(5) Power to lease let licence mortgage and charge and to grant tenancies and licences and to accept surrenders of leases tenancies and licences and to enter into and carry into effect any grants agreements or arrangements whatsoever of or relating to and generally to manage and deal with any land or buildings which shall for the time being be subject to the Trusts or the proceeds of any sale of which would be for the time being so subject in all respects as if my Trustees were an absolute beneficial owner of such land or buildings and so that no mortgagee or chargee dealing with my Trustees in regard to any such land or buildings shall be concerned to see for what purpose any raised or as to the application thereof

(6) Power to hire out or lend or bail any movable chattels for any period or periods and for any consideration whatsoever

(7) In relation to any property other than land and buildings the like powers of mortgaging charging and entering into and carrying into effect any agreements or arrangements whatsoever as are given by paragraph (5) of this Appendix in regard to land and buildings

(8) Power to borrow or raise money for the purposes of mere investment or for acquiring any property or the payment of taxes or expenses either without security or on the security of the whole or part of the trust assets and any property so acquired

(9) Without prejudice to the generality of paragraphs (5) and (7) of this Appendix power to effect any mortgage or charge under those paragraphs as collateral security for or to guarantee monies payable in respect of any loan to a beneficiary or beneficiaries upon such terms in all respects as my Trustees shall in their absolute discretion think fit.

(10) Power to refer to arbitration or to the determination of any expert:

(a) the amount of the monies to be received or paid on any sale or purchase or exchange

(b) the amount of the rent or other payment to be reserved by any lease tenancv agreement or licence in respect of the whole or any part of the term or currency thereof and the covenants and provisions to be contained in any such lease tenancy agreement or licence

(c) the terms for the surrender or other termination of any lease tenancy or licence

(d) all disputes between any tenant or licensee and the reversioner or licensor

(11) Power from time to time to set a value upon any investments or other property subject to the Trusts as my Trustees shall think fit and to appropriate if they shall think fit any such investments or property at such value in or towards satisfaction of any share or interest under the trusts affecting the same

(12) Power at any time or times to have any assets valued for any purpose in such manner as my Trustees shall in their discretion think fit

(13) Power to promote or form or join in promoting or forming any company or corporation for the purpose of acquiring or taking on lease or hire for any estate or interest all or any of the assets which (or the net proceeds of any sale of which) are held subject to the Trusts or for any other purpose whatsoever connected with any such assets

(14) Power to subscribe for all or any of the shares debentures or other securities of any such company or corporation as is mentioned in paragraph (13) above

(15) Power to sell transfer let or hire out for any estate or interest any assets which (or the net proceeds of any sale of which) are subject to any of the trusts hereof in consideration of the issue or transfer to my Trustees or their nominees of any stock shares debentures or other securities

(16) Power to exercise or to refrain from exercising (either themselves or by proxy) the rights attached to any investments subject to any of the trusts hereof in any manner whatsoever and in particular (without prejudice to the generality of the foregoing) to wind up or dissolve or join in winding up or dissolving any company or corporation and to alter or join in altering any of those rights or any rights attached to any other investments or property

(17) Power upon or in any land and buildings which (or the net proceeds of any sale of which) are held upon any of the trusts hereof to carry on the business (whether alone or in partnership with any other person) of farming forestry fruit growing or market gardening or any other business of an agricultural horticultural or arboricultural nature and to employ therein all or any part or parts of any assets subject to the same trusts and to finance such business out of those trust assets with full power to engage remunerate and dismiss any managers bailiffs servants and agents and to appoint regulate and change their respective duties

(18) Power to put or leave any shares stocks securities insurance policies or other property whatsoever (including money) in the name or names of any nominee or nominees for my Trustees and to put or leave any movable chattels and bearer or other securities and certificates for safe keeping in the possession or custody of any person or persons without being responsible for any loss or damage and on such terms and subject to such conditions including remuneration of any such nominee or custodian as mv Trustees shall think fit and so that any such nominees or custodians may be or include any one or more of my Trustees

(19) Power to effect maintain and deal with any insurance or insurances upon the life of any person or of all or any assets subject to any trusts hereof against any risk or risks which my Trustees may consider proper to cover Provided (a) that my Tnistees shall be under no obligation to insure any such assets to their full value or at all and (b) that my Trustees may pay all premiums and other costs relating to insurance out of the income or the capital of any propertv held upon the same trusts under this deed as such assets and (c) that nothing in this paragraph shall authorise any accumulation of income not otherwise authorised by the Trusts

(20) Power to maintain repair improve and alter any chattels and to take such steps as they may consider proper for the presentation of any chattels or other assets subject to any trusts hereof

(21) Power to delegate all or any of their powers contained in this Appendix and any other administrative powers conferred by law (and all of the duties and discretions of my Trustees relating to the exercise of such powers) to any person or persons subject to such conditions (if any and including provisions as to remuneration) as my Trustees shall think fit (without being liable for the acts or defaults of any such delegate) and to revoke or modify any such delegation or conditions with the intent that without prejudice to the generality of the foregoing my Trustees may use this power to delegate any discretions or decisions which fall to be exercised or taken pursuant to the terms of any agreement entered into pursuant to subclause (28)(c) below

(22) Power to pay to the parent or guardian of any minor any money intended to be applied for the maintenance education benefit or advancement of that minor and the receipt of such parent or cuardian shall be a sufficient discharge to my Trustees for any such sum of money (and they shall not be bound to see or to inquire into the actual application thereof)

(23) Power to permit a beneficiary or beneficiaries hereunder to occupy use or enjoy personally:

 

(a) any movable property wherever situate
(b) any immovable property situate anywhere in the world other than in England and Wales which (or the future proceeds of sale of which) may for the time being be comprised in the Trust Fund and

(c) any immovable property situate in England and Wales which may for the time being subject to the Trust Fund and in respect of which no beneficiary has a right to occupy under the provisions of Section 12 of the Trusts of Land and Appointment of Trustees Act 1996 upon any terms or conditions whatever which my Trustees may think fit.

 

(24) Power to lend any money with or without security to a beneficiary or beneficiaries hereunder with or without payment of interest and upon such terms as to repayment and otherwise in such manner in all respects as my Trustees shall in their absolute discretion think fit
(25) In respect of any chattels ("the Chattels") subject to the Trusts:

 

(a) My Trustees shall have power to sell lease hire deposit store or otherwise deal with such chattels upon such terms as they shall in their absolute discretion think fit
(b) Trustees shall not be bound to see nor be liable or accountable for omitting or neglecting to see to the repair or insurance of the Chattels but may repair and insure such chattels in such manner and to such extent as thev shall in their absolute discretion think fit.

(c) My Trustees shall have power to apply for conditional exemption from inheritance tax under Chapter 11 of Part 11 of the Inheritance Tax Act 1984 by making a claim for designation under section 31 of the said Act to the Commissioners of Inland Revenue for that purpose and by giving such undertakings as may be required under section 31 of the said Act.

 

(26) Power to permit any one or more of my Trustees to sign cheques on any bank account in the names of my Trustees and generally to sign orders and authorities to any bank on behalf of my Trustees
(27) My Trustees may enter into a transaction with, or exercise a discretion which benefits, another person or persons notwithstanding that one or more of my Trustees may have a fiduciary or personal interest ("an adverse interest") in the transaction which conflicts with his or her duties as a Trustee of my Will Provided that the following conditions are observed:

 

(a) any Trustee who has an adverse interest declares it to his or her co-Trustee as soon as practicable and thereafter ceases to participate as Trustee in negotiations and decision making relating to the transaction or discretion
(b) there are at least two of my Trustees who do not have an adverse interest and

(c) the decision whether to enter into the transaction or exercise the discretion and if so on what terms is taken unanimously by those Trustees who do not have an adverse interest

 

(28) In relation to the Intellectual Property Rights

(a) power to apply for and pursue or authorise others to apply for such registrations or any appropriate official or administrative recognition or validation of any of the Intellectual Property Rights in any country of the world and to acquire for consideration the benefit of any such registrations or pending applications for such registrations made or being pursued by any third party and take such other protective action in any part of the world as they may think prudent to safeguard the interests of the beneficiaries whether financial or otherwise
(b) the reasonable costs of any legal proceedings in any jurisdiction within the scope of subparagraph (a) above or otherwise taken with a view to defending or enforcing the Intellectual Property Rights or seeking an injunction, compensation or other relief for their misuse shall be deemed to be expenses property incurred by my Trustees notwithstanding that the prior authorisation of the Court has not been obtained provided that at all times they act in reliance on appropriate legal advice given by persons qualified to advise in respect of the jurisdiction concerned

(c) power to enter into any licence or other form of agreement for the exploitation of any of the Intellectual Property Rights and upon such terms (including terms with retrospective effect) as could be entered into by an absolute beneficial owner of the Intellectual Property Rights

 

(29) The provisions of sections 11 19 and 20 of the Trusts of Land and Appointment of Trustees Act 1996 shall not apply to property subject to the Trusts.
(30) Power in respect of any asset to deal (whether by sale exchange purchase lease mortgage loan borrowing or otherwise) with the trustees of any property held on trusts declared by this Will which are distinct from the trusts applying to the asset in question at such price rent or rate of interest or for such other consideration and upon such terms generally as they shall in their absolute discretion think fit or approve notwithstanding that one or some or all of them are among or comprise the trustees with whom they are dealing without being liable to account for any profit Provided Always that any such dealing shall be for full consideration and that such consideration shall be determined in reliance on appropriate advice given by persons qualified to advise in respect of the dealing.

IN THE HIGH COURT OF JUSTICE

CH 1997 No W 6888

CHANCERY DIVISION

The Vice Chancellor Sir Richard Scott Chambers

19th day of December 1997

IN THE MATTER of the estate of Diana,
Princess of Wales deceased

BETWEEN

(1) HIS ROYAL HIGHNESS PRINCE WILLIAM ARTHUR PHILIP LOUIS of WALES (a minor)

(2) HIS ROYAL HIGHNESS PRINCE HENRY CHARLES ALBERT DAVID of WALES (a minor)

Plaintiffs

and

(1) THE HONOURABLE FRANCES RUTH SHAND KYDD

(2) THE HONOURABLE ELIZABETH SARAH LAVINIA McCORQUODALE

Defendants

ORDER

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