- Latest available (Revised)
- Point in Time (30/04/2024)
- Original (As enacted)
Point in time view as at 30/04/2024. This version of this cross heading contains provisions that are prospective.
The term provision is used to describe a definable element in a piece of legislation that has legislative effect – such as a Part, Chapter or section. A version of a provision is prospective either:
Commencement Orders listed in the ‘Changes to Legislation’ box as not yet applied may bring this prospective version into force.
There are currently no known outstanding effects for the Trusts and Succession (Scotland) Act 2024, Cross Heading: Powers: general.
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
Prospective
(1)Except in so far as the trust deed expressly provides otherwise (or, in a case where there is no trust deed, the context requires or implies otherwise) the trustees have in relation to the trust property all the powers of a natural person beneficially entitled to the property.
(2)But this section is without prejudice to—
(a)a trustee’s fiduciary duty (including a trustee’s duty to fulfil the trust purposes),
(b)a trustee’s duty of care, and
(c)any restriction or exclusion imposed by or under this Act or any other enactment.
(3)This section applies irrespective of when the trust was created.
Commencement Information
I1S. 15 not in force at Royal Assent, see s. 88(3)
(1)The court may, on the application of the trustees, grant them additional powers of administration or management in relation to the trust property (being powers specified in the application).
(2)Before granting additional powers under subsection (1), the court must—
(a)take into account any objection timeously made by virtue of subsection (3), and
(b)be satisfied that the trustees having the additional powers in question would benefit the future administration or management of the trust property.
(3)An application under subsection (1) is to be intimated to the persons mentioned in subsection (4), any of whom may object to its being granted.
(4)The persons are—
(a)any supervisor,
(b)any protector,
(c)any beneficiary who has a vested interest in the trust property,
(d)such other persons as the court may specify.
(5)The court is to consider specifying under subsection (4)(d) any beneficiary who has a contingent interest, and any potential beneficiary, under the trust but—
(a)need not specify under that subsection any such beneficiary or potential beneficiary, and
(b)may specify under it a person other than any such beneficiary or potential beneficiary.
(6)The court may, in granting powers under subsection (1), impose such conditions as to the exercise of those powers as it thinks fit.
(7)This section applies irrespective of when the trust was created.
Commencement Information
I2S. 16 not in force at Royal Assent, see s. 88(3)
(1)Except in so far as the trust deed expressly provides otherwise, a trustee has power to take out such insurance as it is reasonable to take out against personal liability arising from the trustee’s actings in carrying out the duties of a trustee.
(2)In subsection (1), the reference to actings is to be construed as including intentionally not acting in some matter.
(3)The expense of taking out the insurance is to be paid out of the trust property.
(4)This section applies irrespective of when the trust was created.
Commencement Information
I3S. 17 not in force at Royal Assent, see s. 88(3)
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Point in Time: This becomes available after navigating to view revised legislation as it stood at a certain point in time via Advanced Features > Show Timeline of Changes or via a point in time advanced search.
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Text created by the Scottish Government to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Acts of the Scottish Parliament except those which result from Budget Bills.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: