68. Disclaimer of powers by trustees

A person to whom any power, whether coupled with any interest or not, is given may by deed disclaim the power, and after disclaimer shall not be capable of exercising or joining in the exercise of the power.

On such disclaimer, the power may be exercised by the other person or persons or the survivor or survivors of the other persons, to whom the power is given, unless the contrary is expressed in the instrument creating the power.

This section shall apply to powers created by instruments coming into operation before, on or after 1 August 1886.