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ARTICLE · 21 APRIL 2010

Trustee Ordinance to Get Long-overdue Makeover

Mayer Brown
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After a three-month public consultation, the government has recently published its consultation conclusions on the Trustee Ordinance review.

Hong KongEmployment and HR
Duncan Abate
Duncan Abate
Sophia Man
Sophia Man
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Originally published 21 April 2010

Keywords: trustee ordinance, review, trust law, Hong Kong, TO, proposed amendments

After a three-month public consultation, the government has recently published its consultation conclusions on the Trustee Ordinance review. Based on the consultation, the government has put forward a list of proposed amendments, intended to benefit settlors, trustees and beneficiaries by providing greater clarity and certainty in relation to trust law in Hong Kong.

Background

Recognising that some of the provisions in the Trustee Ordinance ("TO") are outdated (especially those concerning the powers and duties of trustees), the government submitted proposals to reform the TO and related matters. A three-month public consultation was held from June to September 2009 to gauge views on the proposals. The proposals are aimed at strengthening the competitiveness and attractiveness of Hong Kong's trust service industry. It is believed that a modern

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