Jersey: Jersey Trust Expert Calls On Island Professionals To Have Their Say On Proposed Changes To The Jersey Trusts Law
Last Updated: 9 May 2016

One of Ogier's Jersey trust experts is calling on Island professionals to have their say on proposed changes to the Jersey Trusts Law.

A consultation on the proposed changes to the Trusts (Jersey) Law 1984 expires on 4th July.

Steve Meiklejohn, who sits on the Working Party considering trust law reform in Jersey, is urging Jersey trust professionals to contribute to the consultation which will ensure the legislation remains world-leading and continues to place Jersey as the trusts jurisdiction of choice.

He said: "Everyone involved in advancing these changes will be greatly assisted by practitioners expressing their views on the various proposals.

"The Working Party is interested in hearing all arguments, since some may not already have been considered.

"It is vital that the Working Party is able to consider all views, and so we want as many people as possible to get involved."

The proposals in question will amend the legislation that governs Jersey's trusts​ industry.

The amendments draw on the work of a group​ of leading industry practitioners, organised through Jersey Finance. They aim to find out where the law may benefit from clarification, and where new provisions may help to develop the Island's offering to the private wealth management world.  

The following areas are available for public consultation:

  • the need for a beneficiary at all times during the existence of ​a trust
  • the rights of beneficiaries to information
  • reservation of powers by a settlor
  • arbitration provisions
  • trustees self-contracting
  • confirmation of the appointment of a corporate trustee post-merger
  • extension of indemnity provisions
  • retention and accumulation
  • presumption of lifetime effect
  • variation of trusts
  • légitime

You can access the consultation here

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