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Amendments to the Trustee Bill

Trustee Bill -
Amendments to be debated in the House of Lords

Here you can browse the Amendments to the Trustee Bill to be moved in Grand Committee in the House of Lords.

  
Clause 7
 
  
BY THE LORD CHANCELLOR
 
     Page 3, line 3, leave out from beginning to ("this") in line 15 
  
Clause 10
 
  
BY THE LORD CHANCELLOR
 
     Page 4, line 10, leave out subsections (1) to (3) and insert--
 
    ("(1)  This Part does not apply in relation to--
    (a)  a trust of property which consists of or includes land but which (despite section 2 of the Trusts of Land and Appointment of Trustees Act 1996) is settled land, or
    (b)  a trust to which the Universities and College Estates Act 1925 applies.")
 
  
Clause 11
 
  
BY THE LORD CHANCELLOR
 
     Page 5, line 5, leave out ("acquired") and insert ("held") 
  
Clause 12
 
  
BY THE LORD CHANCELLOR
 
     Page 5, line 29, at end insert ("(even if the beneficiary is also a trustee)") 
  
Clause 16
 
  
BY THE LORD CHANCELLOR
 
     Page 7, line 2, after ("determine") insert ("(other than settled land)") 
     Page 7, line 6, at end insert ("or in relation to any assets vested in the official custodian for charities") 
  
Clause 17
 
  
BY THE LORD CHANCELLOR
 
     Page 7, line 14, at end insert ("or in relation to any assets vested in the official custodian for charities") 
  
Clause 18
 
  
BY THE LORD CHANCELLOR
 
     Page 7, line 17, after ("instrument") insert ("or any enactment or provision of subordinate legislation") 
     Page 7, line 21, at end insert ("or in relation to any securities vested in the official custodian for charities") 
  
Clause 19
 
  
BY THE LORD CHANCELLOR
 
     Page 7, line 27, at end insert--
    ("(  ) the person is a body corporate recognised under section 9 of the Administration of Justice Act 1985")
 
  
Clause 21
 
  
BY THE LORD CHANCELLOR
 
     Page 8, line 28, at end insert ("or by any enactment or any provision of subordinate legislation") 
     Page 8, line 32, after ("instrument") insert ("or the enactment or provision of subordinate legislation") 
  
Clause 28
 
  
BY THE LORD CHANCELLOR
 
     Page 10, line 8, leave out ("Subsections (2) and") and insert ("Except to the extent (if any) to which the trust instrument makes inconsistent provision, subsections (2) to") 
     Page 10, line 10, at end insert ("to or") 
     Page 10, line 13, leave out from ("capacity") to end of line 15 
     Page 10, line 18, at end insert--
 
    ("(2A)  Subsection (2) applies to a trustee of a charitable trust who is not a trust corporation only--
    (a)  if he is not a sole trustee, and
    (b)  to the extent that each other trustee has agreed that it should apply to him.")
 
     Page 10, line 32, at end insert--
 
("and the services he provides to or on behalf of the trust fall within that description.")
 
  
Clause 29
 
  
BY THE LORD CHANCELLOR
 
     Page 10, line 40, after ("provides") insert ("to or") 
     Page 11, line 4, after ("provides") insert ("to or") 
     Page 11, line 8, after ("services") insert ("to or") 
     Page 11, line 8, at end insert ("and for the purposes of subsection (1) includes, in relation to the provision of services by a trustee who is an authorised institution under the Banking Act 1987 and provides the services in that capacity, the institution's reasonable charges for the provision of such services") 
  
Clause 30
 
  
BY THE LORD CHANCELLOR
 
     Page 11, line 21, at end insert ("who are trust corporations or act in a professional capacity") 
     Page 11, line 24, after ("or") insert ("any other enactment or any provision of subordinate legislation, or by") 
     Page 11, line 32, leave out from ("instrument") to end of line 33 and insert (", but no such instrument shall be made unless a draft of it has been laid before Parliament and approved by a resolution of each House of Parliament") 
  
Clause 31
 
  
BY THE LORD CHANCELLOR
 
     Page 11, line 34, leave out subsection (1) and insert--
 
    ("(1)  A trustee--
    (a)  is entitled to be reimbursed from the trust funds, or
    (b)  may pay out of the trust funds,
expenses properly incurred by him when acting on behalf of the trust.")
 
     Page 11, line 37, after ("or") insert ("any other enactment or any provision of subordinate legislation, or by") 
  
Clause 32
 
  
BY THE LORD CHANCELLOR
 
     Page 12, line 1, after ("or") insert ("any other enactment or any provision of subordinate legislation, or by") 
     Page 12, line 10, after ("him") insert ("to or") 
  
Clause 33
 
  
BY THE LORD CHANCELLOR
 
     Page 12, line 16, after ("provided") insert ("to or on behalf of,") 
  
Clause 38
 
  
BY THE LORD CHANCELLOR
 
     Page 14, line 28, at end insert (", or having effect as if made,") 
     Page 14, line 29, after ("1993,") insert ("other than such a fund the trusts of which provide that property is not to be transferred to the fund except by or on behalf of a charity the trustees of which are the trustees appointed to manage the fund,") 
     Page 14, line 30, at end insert (", or having effect as if made,") 
  
Clause 39
 
  
BY THE LORD CHANCELLOR
 
     Page 15, line 5, at end insert--
    (""settled land" has the same meaning as in the Settled Land Act 1925;")
 
  
Schedule 1
 
  
BY THE LORD CHANCELLOR
 
     Page 17, line 6, leave out from ("or") to end of line 7 and insert ("any other power of investment, however conferred;") 
     Page 17, line 14, leave out from ("any") to end of line 15 and insert ("other power to acquire land, however conferred;") 
     Page 17, line 26, leave out ("power conferred by the trust instrument") and insert ("other power, however conferred") 
     Page 17, line 37, at end insert-- 
 ("COMPOUNDING OF LIABILITIES> 
     .  The duty of care applies to a trustee--
    (a)  when exercising the power under section 15 of the Trustee Act 1925 to do any of the things referred to in that section;
    (b)  when exercising any corresponding power, however conferred.")
 
     Page 17, line 42, leave out ("conferred on him by the trust instrument") and insert (", however conferred") 
     Page 17, line 43, at end insert-- 
 ("REVERSIONARY INTERESTS, VALUATIONS AND AUDIT> 
     .  The duty of care applies to a trustee--
    (a)  when exercising the power under section 22(1) or (3) of the Trustee Act 1925 to do any of the things referred to there;
    (b)  when exercising any corresponding power, however conferred.")
 
     Page 18, line 2, leave out ("to powers conferred by a trust instrument") 
  
Schedule 2
 
  
BY THE LORD CHANCELLOR
 
     Page 21, line 12, at end insert--
 
    ("  .  In section 15 (power to compound liabilities), for "in good faith" substitute "if he has or they have discharged the duty of care set out in section 1(1) of the Trustee Act 2000".")
 
     Page 21, line 13, at end insert--
 
    ("  .  In section 22 (reversionary interests, valuations, and audit)--
    (a)  in subsection (1), for "in good faith" substitute "if they have discharged the duty of care set out in section 1(1) of the Trustee Act 2000", and
    (b)  in subsection (3), omit "in good faith" and at the end insert "if the trustees have discharged the duty of care set out in section 1(1) of the Trustee Act 2000".")
 
     Page 21, line 18, at end insert-- 
 ("THE LAND REGISTRATION ACT 1925 (C.21) 
     .  In section 94(1) (registered land subject to a trust to be registered in the names of the trustees), at the end insert "or in the name of a nominee appointed under section 16 of the Trustee Act 2000".") 
     Page 24, line 5, at end insert ("of that section") 
     Page 24, line 6, after ("(8)") insert ("of that section") 
 
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Prepared 25 May 2000