108Money or damages to be held on trust

1. In this section, money or damages means—

2. any money or damages awarded to a minor in any cause or matter; or
3. any money to which a minor is entitled under an agreement, a compromise, or a settlement approved under section 104 or 105.

4. If the court directs that the whole or any part of any money or damages must be held on trust for the minor under this section by Public Trust or any other person,—

5. the amount must be invested and held by the trustee on trust—
   1. to make a payment (if any) to the minor out of the income and capital of the amount that the court may specify; and
   2. to apply the income and capital of the amount, or so much of the income and capital that the trustee from time to time thinks fit, for or towards the maintenance or education (including past maintenance or education) or the advancement or benefit of the minor:
6. the minor has no power, either by himself or herself or in conjunction with any other person or persons, to terminate the trusts on which the amount is held or to modify or extinguish those trusts:
7. the interest of the minor in the income and capital of the amount may not, while it remains in the hands of the trustee,—
   1. be alienated; or
   2. pass by bankruptcy; or
   3. be liable to be seized, sold, attached, or taken in execution by process of law.

8. Subsection (2)(a) to (c)—

9. applies except to the extent that the court directs any immediate payment from the money or damages or orders otherwise; and
10. is subject to any directions or conditions given or imposed by the court.

11. This section does not limit section 107.

Compare

• s 12(4)