All Change - Legislative Developments

Trusts (Amendment No.6) (Jersey) Law 2013

The Trusts (Amendment No.6) came into force in October 2013, amending Jersey's trusts legislation to enshrine in statute the existing Jersey case law provisions in relation to mistake and 'the rule in Hastings-Bass'. The provisions allow for the Royal Court of Jersey to remedy the adverse effects or consequences of mistakes, or other acts or omissions, made by settlors, trustees and others. The existence of this jurisdiction to offer a remedy is important; it can be a very attractive alternative to the option of pursuing hostile litigation against professional advisors, with the attendant concerns in relation to uncertainty of outcome, time delays and expense.