... and so would need to know exactly how many beneficiaries there are, thus must draw up a 'fixed list'2. Under a fixed trust the testator would express the beneficiary to whom the trust was intended and therefore the object is often clear. However where the beneficiaries are of a wide class conceptual uncertainties commonly arise and it would therefore require interpretation. Such a situation arose in Broadway3 the trust was void for uncertainty as the whole range of objects could not be ascertained. It is generally accepted that the terms in a fixed trust are precise enough to comprise a complete list test. However where the testator aims to give to the benefit of a large number of people a discretionary trust is most useful. This is because no individual potential beneficiary has an interest on the fund until the trustees' discretion is exercise. More recently, the complete list has ...

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