Law Commission Reports
Trustee Exemption Clauses
- Law Commission
- TSO (The Stationery Office)
This project on trustee exemption clauses arose out of the passage through Parliament of the Trustee Bill in 2000. During the debates Lord Goodhart expressed concern that the proposed measure did nothing to restrict the use of exemption clauses in trust instruments, which raised the possibility of beneficiaries being denied adequate protection. The Lord Chancellor undertook to refer the matter to the Law Commission for thorough investigation.
This, the resulting report, is organised in the following sections:
The Current Law
The Case for Reform
Professional and Lay – Distinguishing between Different Types of Trustee
Statutory Regulation of Trustee Exemption Clauses – The CP's Provisional Proposals for Reform
Regulation of Trustee Exemption Clauses – A Rule of Practice.
The main recommendation is that a rule of practice should be recognised, in the interests of securing settler awareness of trustee exemption clauses.
|Format||Paperback||Published||19 Jul 2006|
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