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Trusts and Succession (Scotland) Act 2024
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There are currently no known outstanding effects for the Trusts and Succession (Scotland) Act 2024, Section 29.
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Prospective
29Trustees’ duty to provide information other than on requestS
This section has no associated Explanatory Notes
(1)It is the duty of the trustees, on becoming aware that a person is as described in subsection (2)—
(a)to inform the person (or if the person has not attained the age of 16 years, or is incapable, an appropriate person in relation to that person (see section 81(2))) accordingly, and
(b)to disclose with that information—
(i)the names of all the trustees, and
(ii)information sufficient to enable the person (or an appropriate person in relation to that person) to enter readily into correspondence with them.
(2)The persons are—
(a)a beneficiary who has a vested interest in the trust property,
(b)any other beneficiary who the trustees reasonably consider ought to be informed under subsection (1), and
(c)a potential beneficiary, the imminence of whose becoming a beneficiary appears to the trustees to be such that it would be unreasonable not to inform that potential beneficiary under subsection (1).
(3)For the purposes of this section, trustees must take such steps as appear to them to be appropriate in all the circumstances to ensure that beneficiaries and potential beneficiaries are identified and traced.
(4)The information is to be provided within such period as is reasonable in all the circumstances; except that if the person to be informed is a beneficiary who has acquired an immediate interest in the trust property the information must be provided as soon as is reasonably practicable.
(5)In providing information, or making a disclosure, to any person under subsection (1), the trustees need not—
(a)give any advice to that person, or
(b)comment upon the information or disclosure in question.
(6)If information provided by virtue of subsection (1) ceases to be current, the trustees must without delay inform the beneficiary or potential beneficiary (or an appropriate person in relation to the beneficiary or potential beneficiary) of such changes as are needed to update it.
(7)This section—
(a)applies irrespective of when the trust was created, but
(b)except in the case of a beneficiary who has a personal interest in the trust property, does not apply as respects a private purpose trust.
Commencement Information
I1S. 29 not in force at Royal Assent, see s. 88(3)
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