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English Trust Law
English trust law concerns the protection of assets, usually when they are held by one party for another's benefit. Trusts were a creation of the English law of property and obligations, and share a subsequent history with countries across the Commonwealth and the United States. Trusts developed when claimants in property disputes were dissatisfied with the common law courts and petitioned the King for a just and equitable result. On the King's behalf, the Lord Chancellor developed a parallel justice system in the Court of Chancery, commonly referred as equity. Historically, trusts have mostly been used where people have left money in a will, or created family settlements, charities, or some types of business venture. After the Judicature Act 1873, England's courts of equity and common law were merged, and equitable principles took precedence. Today, trusts play an important role in financial investment, especially in unit trusts and in pension trusts (where trustees and f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Londres 350
Londres may refer to: Locations * London, capital of the United Kingdom and England, called ''Londres'' in French, Spanish, Portuguese, Catalan, Galician, and Filipino * Londres, Catamarca, Argentina, formally "San Juan de la Ribera de Londres" or "Londres de la Nueva Inglaterra" * Londres, Costa Rica, small rural Costa Rican community about east of Quepos on the Rio Naranjo river * Nueva Londres, a town in the Caaguazú department of Paraguay People with the surname * Albert Londres (1884–1932), French journalist and writer * Richie Londres, also known as Altered Beats, English musician, hip hop record producer, lead guitarist and multi-instrumentalist Other uses * Albert Londres Prize, prize in the name of Albert Londres * Radio Londres, a radio broadcast from 1940 to 1944 from the BBC in London to Nazi occupied France * Londres Nova, Mars, capital of the Martian Congressional Republic in the Expanse series See also * London (other) London is the capital ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unit Trust
A unit trust is a form of collective investment constituted under a trust deed. A unit trust pools investors' money into a single fund, which is managed by a fund manager. Unit trusts offer access to a wide range of investments, and depending on the trust, it may invest in securities such as shares, bonds, gilts, and also properties, mortgage and cash equivalents. Those investing in the trust own "units" whose price is called the "net asset value" (NAV). The number of these units is not fixed and when more is invested in a unit trust (by investors opening accounts or adding to their accounts), more units are created. In addition to the UK, trusts are found in Fiji, Ireland, the Isle of Man, Guernsey, Jersey, New Zealand, Australia, Kenya, Uganda, Namibia, South Africa, Singapore, Malaysia and Zimbabwe. History The first unit trust was launched in the UK in 1931 by M&G under the inspiration of Ian Fairbairn. The rationale behind the launch was to emulate the comparative robu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Formality In English Law
Formalities in English law are required in some kinds of transaction by English contract law and trusts law. In a limited number of cases, agreements and trusts will be unenforceable unless they meet a certain form prescribed by statute. The main kinds of formality that a statute can require are to put the transaction in writing, to make a deed, or to register it at a government registrar (such as HM Land Registry or Companies House). While contracts and trusts can be generally created without formality, some transactions are thought to require form either because it makes a person think carefully before they bind themselves to an agreement, or merely that it serves as clear evidence. History The history of requirements of formality in English law generally shows a gradual shift towards fewer and fewer instances of transaction needing form, as technology and recording of agreements has become more advanced. Originally a contract which was sealed ("made under seal", using a wax s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Beneficiaries
A beneficiary (also, in trust law, '' cestui que use'') in the broadest sense is a natural person or other legal entity who receives money or other benefits from a benefactor. For example, the beneficiary of a life insurance policy is the person who receives the payment of the amount of insurance after the death of the insured. Most beneficiaries may be designed to designate where the assets will go when the owner(s) dies. However, if the primary beneficiary or beneficiaries are not alive or do not qualify under the restrictions, the assets will probably pass to the ''contingent beneficiaries''. Other restrictions such as being married or more creative ones can be used by a benefactor to attempt to control the behavior of the beneficiaries. Some situations such as retirement accounts do not allow any restrictions beyond death of the primary beneficiaries, but trusts allow any restrictions that are not illegal or for an illegal purpose. The concept of a "beneficiary" will also fr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trustees
Trustee (or the holding of a trusteeship) is a legal term which, in its broadest sense, is a synonym for anyone in a position of trust and so can refer to any individual who holds property, authority, or a position of trust or responsibility to transfer the title of ownership to the person named as the new owner, in a trust instrument, called a beneficiary. A trustee can also be a person who is allowed to do certain tasks but not able to gain income, although that is untrue.''Black's Law Dictionary, Fifth Edition'' (1979), p. 1357, . Although in the strictest sense of the term a trustee is the holder of property on behalf of a beneficiary, the more expansive sense encompasses persons who serve, for example, on the board of trustees of an institution that operates for a charity, for the benefit of the general public, or a person in the local government. A trust can be set up either to benefit particular persons, or for any charitable purposes (but not generally for non-charitable ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Settlor
In law a settlor is a person who settles property on trust law for the benefit of beneficiaries. In some legal systems, a settlor is also referred to as a trustor, or occasionally, a grantor or donor. Where the trust is a testamentary trust, the settlor is usually referred to as the testator. The settlor may also be the trustee of the trust (where he declares that he holds his own property on trusts) or a third party may be the trustee (where he transfers the property to the trustee on trusts). In the common law of England and Wales, it has been held, controversially, that where a trustee declares an intention to transfer trust property to a trust of which he is one of several trustees, that is a valid settlement notwithstanding the property is not vested in the other trustees. Capacity to be a trustee is generally co-extensive with the ability to hold and dispose of a legal or beneficial interest in property. In practice, special considerations arise only with respect to minors and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Charities Act 2011
The Charities Act 2011c 25 is a UK Act of Parliament. It consolidated the bulk of the Charities Act 2006, outstanding provisions of the Charities Act 1993, and various other enactments. Repeals Legislation repealed in its entirety by the 2011 Act include the Recreational Charities Act 1958, Charities Act 1993, Charities (Amendment) Act 1995, Charities Act 1993 (Substitution of Sums) Order 1995, Charities Act 2006 (Charitable Companies Audit and Group Accounts Provisions) Order 2008, and Charities (Pre-consolidation Amendments) Order 2011. Amendments were made to other legislation. It replaces most of the Charities Act 1992 and Charities Act 2006. See also *English trust law English trust law concerns the protection of assets, usually when they are held by one party for another's benefit. Trusts were a creation of the English law of property and obligations, and share a subsequent history with countries across the ... * Charitable trusts in English law Notes References ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pensions Act 2004
The Pensions Act 2004 (c 35) is an Act of the Parliament of the United Kingdom to improve the running of pension schemes. Background In the years following the introduction of the Pensions Act 1995, it was widely perceived that it was failing to offer the protection to pension scheme members that had been anticipated. The Occupational Pensions Regulatory Authority was perceived as being reactive, didactic and uncommercial. The minimum funding requirement had not prevented some pension schemes winding up with insufficient assets to secure their liabilities, amid considerable publicity. There was strong political pressure to establish a guarantee fund similar to the American Pension Benefit Guaranty Corporation. Much of the regulation was perceived to be unnecessarily restrictive. The Pensions Act 2004 was written to try to fix these deficiences. The Act introduced two new regulatory institutions: the Pensions Regulator, with the powers to require sponsoring companies to make co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pensions Act 1995
The Pensions Act 1995c 26 is a piece of United Kingdom legislation to improve the running of pension schemes. Background Following the death of Robert Maxwell, it became clear that he had embezzled a large amount of money from the pension fund of Mirror Group Newspapers. As a result of this, a review was established to look into ways that the running of pension schemes could be improved. The end result was the Pensions Act 1995. Overview The main features of the Act included: * The establishment of the Occupational Pensions Regulatory Authority * The Minimum Funding Requirement (MFR) to ensure that all pension schemes had a minimum amount of money * A compensation fund for pension schemes in the event of fraud * Protection for existing pension scheme benefits so that they could not be reduced in the future without member consent * A requirement for pension schemes to have member nominated trustees * Greater disclosure of information to members * The introduction of clear documen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trustee Act 2000
The Trustee Act 2000c 29 is an Act of the Parliament of the United Kingdom that regulates the duties of trustees in English trust law. Reform in these areas had been advised as early as 1982, and finally came about through the Trustee Bill 2000, based on the Law Commission's 1999 report "Trustees' Powers and Duties", which was introduced to the House of Lords in January 2000. The bill received the Royal Assent on 23 November 2000 and came into force on 1 February 2001 through the Trustee Act 2000 (Commencement) Order 2001, a Statutory Instrument, with the Act having effect over England and Wales. The Act covers five areas of trust law: the duty of care imposed upon trustees, trustees' power of investment, the power to appoint nominees and agents, the power to acquire land, and the power to receive remuneration for work done as a trustee. It sets a new duty of care, both objective and standard, massively extends the trustees' power of investment and limits the trustees' liability ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Services And Markets Act 2000
The Financial Services and Markets Act 2000c 8 is an Act of the Parliament of the United Kingdom that created the Financial Services Authority (FSA) as a regulator for insurance, investment business and banking, and the Financial Ombudsman Service to resolve disputes as a free alternative to the courts. The Act was considerably amended by the Financial Services Act 2012 and the Bank of England and Financial Services Act 2016. Contents Some of the key sections of this act are: ;Part I The Regulator * Section 1A outlines the regulatory objectives of the Financial Conduct Authority: (a) market confidence; (b) financial stability (c) public awareness; (d) the protection of consumers; and (e) the reduction of financial crime. * Section 2A establishes the Prudential Regulation Authority ;Part II Regulated And Prohibited Activities * Section 19 requires firms to be authorised to conduct regulated activities. * Section 21 makes it a criminal offence to issue a financial promotion ( ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Recognition Of Trusts Act 1987
The Recognition of Trusts Act 1987 is a UK Act of Parliament that requires and entitles that courts in the United Kingdom recognise the validity of trusts which are created abroad. The Act implemented the Hague Trust Convention, agreed internationally in 1985. It has recently come under scrutiny for the propensity to perpetuate tax avoidance, and the shift of vast sums of money to offshore tax havens. Contents Schedule 1, article 6, states the settlor of a trust has the right to choose any foreign trust law to govern a trust. Art 18 goes on to say that provisions of the schedule are inapplicable if it would be ‘manifestly incompatible with public policy’. {{Expand section, date=December 2013 See also *English trust law *UK company law English trusts law ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
