The Trusts (Amendment No 7) (Jersey) Law 2018, which contains a number of amendments to the Trusts (Jersey) Law 1984 (the Trusts Law), came into force on 8 June.
Key provisions of Amendment No.7 include:
- Clarifying amendments to Article 9A of the Trusts Law (reservation or grant of powers by a settlor)
- A re-write of Article 29 of the Trusts Law (disclosure of trust information)
- Important amendments to Articles 34, 40 and 43 of the Trusts Law and the insertion of a new Article 43A (trustee security and indemnities)
- Substantial amendment to Article 38 of the Trusts Law (accumulation of income and the statutory power of advancement)
- Amendment to Article 47 of the Trusts Law (the Court’s power to vary trusts)