The States of Jersey has this week approved the latest amendment
to the Trusts (Jersey) Law 1984 which will codify the
Hastings-Bass principle as it has been developed in the Jersey
courts and will also codify the principles developed in relation to
mistake. The amendments to the Law, the plans for which were
announced only a few months ago, will have retrospective effect and
will provide welcome certainty to settlors, trustees, other
fiduciaries and beneficiaries of Jersey trusts, particularly in the
wake of the Supreme Court decision in Pitt v Holt and Futter v
Futter [2013] UKSC 26.
The amendment (Trusts (Amendment No.6) (Jersey) Law 201- ) which,
subject to Privy Council sanction, is likely to be in force before
the end of 2013. Click here to read the provisions relating to
transfers or dispositions into trust as well as exercises of powers
in relation to a trust.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.