Offshore: Building trust
With competition among offshore jurisdictions hotting up, Jersey is set to clarify and update its outdated trusts laws. Warwick Ainger discusses the proposed amendments currently under debate
Jersey first introduced legislation in relation to trusts in 1984 with the Trusts (Jersey) Law. Since coming into force, the law has been amended three times: in 1989, to clarify and update certain aspects; in 1991, to harmonise the law with the provisions of the Hague Convention on the law applicable to trusts and on their recognition; and in 1996, to facilitate the creation of non-charitable purpose trusts.
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