- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (Fel y'i Deddfwyd)
This version of this provision is 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, Section 61.
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Prospective
(1)This section applies in relation to loss sustained by—
(a)a beneficiary, or
(b)a potential beneficiary,
(either such person being referred to in this section as “B”) as a consequence of the making of an arrangement to which section 58 applies.
(2)The trustees are not liable to B for the loss if—
(a)B was a beneficiary, or potential beneficiary, when the arrangement was made,
(b)agreement by, or approval on behalf of, B to the arrangement (being agreement or approval in accordance with section 59) was not given, and
(c)prior to the arrangement being made the court, on the application of the trustees or of any of the beneficiaries, was satisfied either—
(i)that B’s interest was so remote as to be of negligible value, or
(ii)that, in the event of B becoming a beneficiary, B’s interest would be so remote as to be of negligible value.
(3)This section—
(a)applies irrespective of when the trust was created, but
(b)does not apply as respects a private purpose trust or a public trust.
Commencement Information
I1S. 61 not in force at Royal Assent, see s. 88(3)
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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.
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