Before reaching the income provisions of a settlement deed, it is usual to find powers of appointment of capital and income.
A power of appointment may allow
•the trustees to appoint the capital by deed or deeds – or the capital and income – at their discretion;
•appointment of capital to be made by someone authorised by the trustees in their discretion.
It will usually extend to the whole or part of the capital as the trustees in their absolute discretion decide, and the persons to benefit will be some members of the class of objects as the trustees in their discretion decide.