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词条 Indian Trusts Act, 1882
释义

  1. Content

  2. See also

  3. References

{{use dmy dates|date=June 2016}}{{use Indian English|date=June 2016}}{{Infobox legislation
| imagesize = 100vrr
| enacted_by = Parliament of India
| status = in force
}}Indian Trusts Act, 1882 is an Act in India related to private trusts and trustees. The act defines what would lawfully be called as a trust and who can be legally its trustees and provides definition for them. The Indian trusts amendment bill of 2015 amended the act and removed some restrictions on investment of the monetary assets by the trust in certain investments. But at the same time enabled the government to scrutinize the trusts investments at will[1][2]

Content

The act defines how the author of the trust could create a trust and assign trustees and assign his monetary assets to be controlled by the trust. This trust should have a clear definition of [3][4]

  • Intention by the author to create the trust
  • Purpose of the trust
  • The beneficiary of the monetary assets controlled by the trust
  • The monetary assets assigned to the trust for the purpose defined above
  • Grants control of the monetary assets to the trustee which can include the author of the trust

In addition the act also explains trustees [5]

  • have to be impartial
  • can not convert property and monetary assets to profitable property outside the limits of the purpose for which the trust was created
  • have to understand completely the statutes of the trust
  • can benefit from being the trustee by claiming expenses and salary from the trust for his work
  • can sometimes act singly if required
  • cannot breach the trust of the author or the purpose of the trust

In addition investments

See also

  • English trusts law

References

1. ^http://www.prsindia.org/uploads/media/Indian%20Trust/Indian%20Trusts%20Bill,%202015.pdf
2. ^http://www.bu.edu/bucflp/files/2012/01/Indian-Trusts-Act-No.-2.pdf
3. ^http://www.prsindia.org/uploads/media/Indian%20Trust/Indian%20Trusts%20Bill,%202015.pdf
4. ^http://articles.economictimes.indiatimes.com/2011-07-18/news/29787429_1_private-trusts-estate-planning-indian-trusts-act
5. ^http://www.prsindia.org/uploads/media/Indian%20Trust/Indian%20Trusts%20Bill,%202015.pdf
6. ^https://indiankanoon.org/doc/470004/
{{Indian legislations}}{{India-law-stub}}

3 : Wills and trusts|1882 in India|1882 in law

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