Draft Common Frame of Reference:X. — 5:202 Restriction in case of minimum number of trustees

Draft Common Frame of Reference

X. — 5:202 Restriction in case of minimum number of trustees

Geldend

Documentgegevens:

Redactionele toelichting: De dag van de datum van afkondiging is gezet op 01. De datum van inwerkingtreding is de datum van afkondiging.
Bronpublicatie:: 01-01-2009, Internet 2009, ec.europa.eu (uitgifte: 01-01-2009, kamerstukken/regelingnummer: -)
Inwerkingtreding: 01-01-2009
Bronpublicatie inwerkingtreding:: 01-01-2009, Internet 2009, ec.europa.eu (uitgifte: 01-01-2009, kamerstukken/regelingnummer: -)
Vakgebied(en): Civiel recht algemeen (V)
EU-recht / Bijzondere onderwerpen
Internationaal privaatrecht / Algemeen

(1)

Where there are fewer trustees than a minimum required by the trust terms or these rules, the trustees may only exercise:

(a)

a power to appoint trustees;

(b)

the right to apply to court for assistance;

(c)

a right under X. — 6:201 (Right of reimbursement and indemnification out of the trust fund); and

(d)

any other right or power of a trustee to the extent that its exercise is:

(i): expressly provided for in the circumstances by the trust terms;
(ii): necessary for the preservation of the trust fund; or
(iii): necessary for the satisfaction of trust debts whose performance is due or impending.

If the trust is constituted by a transfer to at least two trustees the minimum number of trustees is two, unless the trust terms provide otherwise.