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<p>The National Fund was set up by a trust deed in 1928. The Fund is held on trust
for the purpose of reducing the National Debt. According to expert evidence, there
is no realistic prospect of the Fund ever amounting to a sum sufficient to pay off
the whole of the National Debt. On 22<sup>nd</sup> May 2018 the former Attorney General
made an application to the High Court to vary the terms of the charitable trust.</p><p>While
we expect the substantive hearing to take place in 2019, we have not yet received
a hearing date from the High Court.</p>
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