(1) Where property is held in a charitable international trust and—
(a) the purpose has been, as far as may be, fulfilled;
(b) the purpose cannot be carried out at all, or not according to the specification of the purpose in the charitable international trust;
(c) the purpose provides a use for only part of the trust property;
(d) the purpose was laid down by reference to an area or a class of persons which was then, but has since ceased to be, suitable or practicable for any reason in administering the charitable international trust;
(e) the purpose, in the opinion of the trustees, has been adequately provided for by other means; or
(f) the purpose has ceased to be charitable,
the remaining trust property shall be held for such other charitable purpose as the Court, upon the application of the trustee, may declare to be consistent with the original intention of the settlor.
(2) Where trust property is held for a charitable purpose, the Court, on the application of the trustee, may approve an arrangement which varies or revokes the purpose or terms of the charitable international trust or enlarges or modifies the powers of management or administration of the trustee if it is satisfied that the arrangement—
(a) is then suitable or expedient; and
(b) is consistent with the original intention of the settlor.
(3) Without limiting the provisions of Part 12, the Court shall not make a declaration under subsection (1) or approve an arrangement under subsection (2) unless satisfied that any settlor, trustee, beneficiary, protector or class of beneficiaries interested in the trust has had an opportunity to be heard.