Supplementary Regulatory Impact Statement: A New Trusts Act - Commercial and Financial Trusts [pdf, 957 KB]
...documents set out in the recommendation. Some cost impact especially where requirements would be very difficult, if not impossible, for a trustee to comply with eg a list of assets for an investment scheme may change hourly in response to offshore market fluctuations. The documents that are kept will not always reflect the list in the recommendation and it is not necessary that they do. The provision should not apply to commercial and financial trusts. 10 | Su...