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Trustees
Trustee (or the holding of a trusteeship) is a legal term which, in its broadest sense, refers to anyone in a position of trust and so can refer to any individual who holds property, authority, or a position of trust or responsibility for the benefit of another. A trustee can also be a person who is allowed to do certain tasks but not able to gain income.''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 purposes): typical examples are a will trust for the testator's children and family, a pension trust (to confer benefi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trust Law
A trust is a legal relationship in which the owner of property, or any transferable right, gives it to another to manage and use solely for the benefit of a designated person. In the English common law, the party who entrusts the property is known as the "settlor", the party to whom it is entrusted is known as the "trustee", the party for whose benefit the property is entrusted is known as the "beneficiary", and the entrusted property is known as the "corpus" or "trust property". A ''testamentary trust'' is an irrevocable trust established and funded pursuant to the terms of a deceased person's will. An inter vivos trust is a trust created during the settlor's life. The trustee is the legal owner of the assets held in trust on behalf of the trust and its beneficiaries. The beneficiaries are equitable owners of the trust property. Trustees have a fiduciary duty to manage the trust for the benefit of the equitable owners. Trustees must provide regular accountings of trust income ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Charities Act 1993
The Charities Act 2011 (c. 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 Repeals Legislation repealed in its entirety by the Charities Act 2011 included * Recreational Charities Act 1958 ( 6 & 7 Eliz. 2. c. 17), * (c. 10), * (c. 48), * Charities Act 1993 (Substitution of Sums) Order 1995 ( SI 1995/2696), * Charities Act 2006 (Charitable Companies Audit and Group Accounts Provisions) Order 2008 ( SI 2008/527), and * Charities (Pre-consolidation Amendments) Order 2011 ( SI 2011/1396). Amendments were made to other legislation. It replaced most of the (c. 41) and Charities Act 2006 (c. 50). Independent examination Section 145(1)(a) allowed for charities' financial accounts to be independently examined where a full audit is not required. An "independent examiner" is a person not connected to the charity who is "reasonably believed by the trustees to have th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fiduciary
A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties (legal person or group of persons). Typically, a fiduciary prudently takes care of money or other assets for another person. One party, for example, a corporate trust company or the trust department of a bank, acts in a fiduciary capacity to another party, who, for example, has entrusted funds to the fiduciary for safekeeping or investment. Likewise, financial advisers, financial planners, and asset managers, including managers of pension plans, endowments, and other tax-exempt assets, are considered fiduciaries under applicable statutes and laws. In a fiduciary relationship, one person, in a position of vulnerability, justifiably vests confidence, good faith, reliance, and trust in another whose aid, advice, or protection is sought in some matter... In such a relation, good conscience requires the fiduciary to act at all times for the sole benefit and interest of the on ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Legal Term
The following pages contain lists of legal terms: *List of Latin legal terms *List of legal abbreviations *List of legal abbreviations (canon law) *''on Wiktionary:'' ** wikt:Appendix:English legal terms, Appendix: English legal terms ** wikt:Appendix:Glossary of legal terms, Appendix: Glossary of legal terms See also *:Law-related lists *Outline of law#Lists, Outline of law: Lists *List of Latin phrases {{DEFAULTSORT:terminology, legal Law-related lists ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supreme Court Of Victoria
The Supreme Court of Victoria is the highest court in the Australian state of Victoria. Founded in 1852, it is a superior court of common law and equity, with unlimited and inherent jurisdiction within the state. The Supreme Court comprises two divisions: the Trial Division, which oversees its original jurisdiction, and the Court of Appeal, which deals with its appellate jurisdiction, and is frequently referred to as a court in its own right. Although the Supreme Court is theoretically vested with unlimited jurisdiction, it generally only hears, at trial, criminal cases in instances of murder, manslaughter or treason, and civil cases where the statement of claim is in excess of the Magistrates' Court limit of $100,000. The court hears appeals from the County Court, as well as limited appeals from the Magistrates' Court. Decisions of the Supreme Court are appealable to the High Court of Australia. The building itself is on the Victorian Heritage Register. Jurisdiction ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Voluntary Activity Unit
Voluntary may refer to: * Voluntary (music) * Voluntary or volunteer, person participating via volunteering/volunteerism * Voluntary muscle contraction Muscle contraction is the activation of Tension (physics), tension-generating sites within muscle cells. In physiology, muscle contraction does not necessarily mean muscle shortening because muscle tension can be produced without changes in musc ... See also * Voluntary action * Voluntariness, in law and philosophy * Voluntaryism, rejection of coercion * Voluntarism (other) {{disambig ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Office Of The Scottish Charity Regulator
The Scottish Charity Regulator (OSCR; ) is a non-ministerial department of the Scottish Government with responsibility for the regulation of charities in Scotland. OSCR is the independent regulator and registrar for more than 25,000 Scottish charities. OSCR is charged with developing a regulatory framework for Scottish charities, where each charity is clear about its rights and responsibilities. This framework should also foster public confidence in charities. OSCR is directly answerable to the Scottish Parliament. OSCR is based in Dundee. Background In 1981 the Law Society of Scotland announced support for a register through which all charities in Scotland could record their purposes, financial details, and accounts. Under section 6 of the Law Reform (Miscellaneous Provisions) (Scotland) Act 1990, the Lord Advocate was given the power to make inquiries either for general or specific purposes and to obtain various types of information from charities. Following the Scotland Ac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Charity Commission
The Charity Commission for England and Wales is a non-ministerial department of His Majesty's Government that regulates registered charities in England and Wales and maintains the Central Register of Charities. Its counterparts in Scotland and Northern Ireland are the Office of the Scottish Charity Regulator and the Charity Commission for Northern Ireland. The commission has four sites in London, Taunton, Liverpool and Newport. Its website lists the latest annual reports submitted by charities in England and Wales. During the financial year 20222023, the Commission regulated £88billion of charity income and £85billion of charity spend. Charity status Definition To establish a charity, an organisation must first find at least three trustees who will be responsible for the general control and management of the administration of the charity. The organisation needs to have a charitable purpose that helps the public. Afterwards, the administration must select an official ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Board Of Directors
A board of directors is a governing body that supervises the activities of a business, a nonprofit organization, or a government agency. The powers, duties, and responsibilities of a board of directors are determined by government regulations (including the jurisdiction's corporate law) and the organization's own constitution and by-laws. These authorities may specify the number of members of the board, how they are to be chosen, and how often they are to meet. In an organization with voting members, the board is accountable to, and may be subordinate to, the organization's full membership, which usually elect the members of the board. In a stock corporation, non-executive directors are elected by the shareholders, and the board has ultimate responsibility for the management of the corporation. In nations with codetermination (such as Germany and Sweden), the workers of a corporation elect a set fraction of the board's members. The board of directors appoints the ch ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stockholder
A shareholder (in the United States often referred to as stockholder) of corporate stock refers to an individual or legal entity (such as another corporation, a body politic, a trust or partnership) that is registered by the corporation as the legal owner of shares of the share capital of a public or private corporation. Shareholders may be referred to as members of a corporation. A person or legal entity becomes a shareholder in a corporation when their name and other details are entered in the corporation's register of shareholders or members, and unless required by law the corporation is not required or permitted to enquire as to the beneficial ownership of the shares. A corporation generally cannot own shares of itself. The influence of shareholders on the business is determined by the shareholding percentage owned. Shareholders of corporations are legally separate from the corporation itself. They are generally not liable for the corporation's debts, and the shareholders' l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corporation
A corporation or body corporate is an individual or a group of people, such as an association or company, that has been authorized by the State (polity), state to act as a single entity (a legal entity recognized by private and public law as "born out of statute"; a legal person in a legal context) and recognized as such in Corporate law, law for certain purposes. Early incorporated entities were established by charter (i.e., by an ''ad hoc'' act granted by a monarch or passed by a parliament or legislature). Most jurisdictions now allow the creation of new corporations through List of company registers, registration. Corporations come in many different types but are usually divided by the law of the jurisdiction where they are chartered based on two aspects: whether they can issue share capital, stock, or whether they are formed to make a profit (accounting), profit. Depending on the number of owners, a corporation can be classified as ''aggregate'' (the subject of this articl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Depositor
A deposit account is a bank account maintained by a financial institution in which a customer can deposit and withdraw money. Deposit accounts can be savings account A savings account is a bank account at a retail banking, retail bank. Common features include a limited number of withdrawals, a lack of cheque and linked debit card facilities, limited transfer options and the inability to be overdrawn. Traditi ...s, current accounts or any of several other types of accounts explained below. Transactions on deposit accounts are recorded in a bank's books, and the resulting balance is recorded as a liability of the bank and represents an amount owed by the bank to the customer. In other words, the banker-customer (depositor) relationship is one of debtor-creditor. Some banks charge fees for transactions on a customer's account. Additionally, some banks pay customers Interest (finance), interest on their account balances. Types of accounts * How banking works In banking, the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
