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This version of this cross heading contains provisions that are prospective.
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There are currently no known outstanding effects for the Trusts and Succession (Scotland) Act 2024, Cross Heading: Supervisors.
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Prospective
(1)The truster may, in respect of a private purpose trust, by the trust deed make provision for the appointment of a person (to be known as a “supervisor”) to oversee the fulfilment by the trustees of the trust’s specific purpose.
(2)The duties of the supervisor are fiduciary obligations; and the supervisor is subject to a duty of care.
(3)It is not competent to appoint—
(a)a trustee to be a supervisor of the trust, or
(b)a supervisor of the trust to be a trustee.
(4)Except in so far as the trust deed, expressly or by implication, provides otherwise, it is competent for there to be more than one supervisor of the trust at any time.
(5)Subsection (6) applies where—
(a)the terms of a private purpose trust require the appointment of a supervisor but it is impossible, difficult or inexpedient to make the appointment without the court’s assistance, or
(b)no supervisor exists or is traceable who has the legal capacity, and is willing and fit, to carry out the duties of that office.
(6)The court may appoint a person to be a supervisor of the private purpose trust—
(a)in the case mentioned in paragraph (a) of subsection (5), on the application of—
(i)the trustees,
(ii)a supervisor, or
(iii)any other person with an interest in the trust, or
(b)in the case mentioned in paragraph (b) of that subsection, on the application of—
(i)the trustees, or
(ii)any other person with an interest in the trust.
(7)The making of an appointment under subsection (6)(b) removes any existing supervisor from office.
(8)This section applies irrespective of when the trust was created.
Commencement Information
I1S. 49 not in force at Royal Assent, see s. 88(3)
(1)Except in so far as the trust deed, expressly or by implication, provides otherwise, the supervisor of a private purpose trust has the same rights as a beneficiary would have—
(a)to bring an action, or make an application to the court, in respect of the trust,
(b)to be informed by the trustees of the terms of the trust deed,
(c)to receive information concerning the trust and its administration from the trustees, and
(d)to inspect, and take copies of, the trust documents.
(2)Subsections (4) and (6) to (9) of section 30 apply to a disclosure to a supervisor by virtue of subsection (1) as they apply to a disclosure to a beneficiary by virtue of subsection (1)(a) of that section.
(3)The supervisor has, in the performance of the supervisor’s duties as respects the private purpose trust, the same rights as a trustee would have—
(a)to protection and indemnity, and
(b)to make an application to the court for—
(i)an opinion,
(ii)advice or direction, or
(iii)relief from personal liability.
(4)In the event of a breach of trust, the supervisor has, on behalf of the private purpose trust, the same remedies against the trustees or a third party as a beneficiary would have.
(5)This section applies irrespective of when the trust was created.
Commencement Information
I2S. 50 not in force at Royal Assent, see s. 88(3)
(1)Sections 7, 13 and 14 apply in relation to a supervisor and the duties of a supervisor as they apply in relation to a trustee and the duties of a trustee.
(2)This section applies irrespective of when the trust was created.
Commencement Information
I3S. 51 not in force at Royal Assent, see s. 88(3)
(1)A supervisor has power to resign office by notice in writing sent to the trustees.
(2)The resignation takes effect on receipt of that notice.
(3)But any resignation sent under this section in order to facilitate a breach of trust is of no effect.
(4)This section applies irrespective of when the trust was created.
Commencement Information
I4S. 52 not in force at Royal Assent, see s. 88(3)
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