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RECENT STATUTORY CHANGES TO HONG KONG'S LAW OF TRUSTS
Speaker: Mr. Steven Gallagher, Associate Professor in Practice of Law, The Chinese University of Hong Kong
Date: 23 May 2014 (Friday) Fee: HK$1,200 CPD Points: 3 CPD points
Time: 2:30pm to 5:45pm Level: Intermediate Language: English
Venue: United Conference Centre, 10/F., United Centre, 95 Queensway, Admiralty, Hong Kong
Course Objective:
This three hour seminar will consider the changes to Hong Kong’s trust law that came into effect on 1st December 2013. On 1 December 2013 the Trust Law (Amendment) Ordinance 2013 amended the Trustee Ordinance (Cap.29) and the Perpetuities and Accumulations Ordinance (Cap. 257). Among the important amendments to Hong Kong’s trust law will be the introduction of a statutory duty of care for trustees, changes to the statutory powers of delegation of the trustee’s duties, the restriction of exclusion of liability clauses by trustees, and the abolition of the rule against perpetuities This seminar will consider the existing trust law in these areas and the effect of the statutory change.
Course Outline:
- The introduction of a Statutory Duty of Care for trustees
- Restrictions on forced heirship
- Changes to Statutory Powers of Delegation
- Professional trustees’ remuneration
- Trustees’ power to insure trust property
- the use of exclusion of liability clauses
- the power of beneficiaries to retire trustees and nominate new trustees
- The abolition of the rule against perpetuities
- The abolition of the rule against excessive accumulation of income; and
- The abolition of the rule against inalienability.
If you are interested in this seminar, please go to our website www.hklpc.com to have more information and get the application form.
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