Article by Barry Mitchell
A proposed amendment to the Cook Islands International Trusts Act 1984 re-emphasises the position which the Cook Islands has taken with respect to the development of its offshore trust laws to meet the needs of a dynamic and ever changing worldwide environment.
New proposals for the introduction of purpose trusts, comprehensive provisions relating to custodian trustees and clarification on the law relating to redomiciliation, trustees duties and delegation. The appointment of protectors and third party liability are amongst the subjects covered.
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