Recognition of Trusts Act 1987
| Jurisdiction | UK Non-devolved |
| Citation | 1987 c. 14 |
(1) The provisions of the Convention set out in the Schedule to this Act shall have the force of law in the United Kingdom.(2) Those provisions shall, so far as applicable, have effect not only in relation to the trusts described in Articles 2 and 3 of the Convention but also in relation to any other trusts of property arising under the law of any part of the United Kingdom or by virtue of a judicial decision whether in the United Kingdom or elsewhere.(3) In accordance with Articles 15 and 16 such provisions of the law as are there mentioned shall, to the extent there specified, apply to the exclusion of the other provisions of the Convention.(4) In Article 17 the reference to a State includes a reference to any country or territory (whether or not a party to the Convention and whether or not forming part of the United Kingdom) which has its own system of law.(5) Article 22 shall not be construed as affecting the law to be applied in relation to anything done or omitted before the coming into force of this Act.(1) This Act extends to Northern Ireland.(2) Her Majesty may by Order in Council direct that this Act shall also form part of the law of the Isle of Man, any of the Channel Islands or any colony.(3) An Order in Council under subsection (2) above may modify this Act in its application to any of the territories there mentioned and may contain such supplementary provisions as Her Majesty considers appropriate.(4) An Order in Council under subsection (2) above shall be subject to annulment in pursuance of a resolution of either House of Parliament.(1) This Act may be cited as the Recognition of Trusts Act 1987.(2) This Act shall come into force on such date as the Lord Chancellor and the Lord Advocate may appoint by an order made by statutory instrument.(3) This Act binds the Crown.This Convention specifies the law applicable to trusts and governs their recognition. the assets constitute a separate fund and are not a part of the trustee’s own estate;title to the trust assets stands in the name of the trustee or in the name of another person on behalf of the trustee;the trustee has the power and the duty, in respect of which he is accountable, to manage, employ or dispose of the assets in accordance with the terms of the trust and the special duties imposed upon him by law.The Convention applies only to trusts created voluntarily and evidenced in writing. The Convention does not apply to preliminary issues relating to the validity of wills or of other acts by virtue of which assets are transferred to the trustee. The Convention does not apply to the extent that the law specified by Chapter
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