Gespeichert in:
| Titel: | Honoré's South African law of trusts |
|---|---|
| Weiterer Titel: | South African law of trusts |
| Von: |
by Edwin Cameron with ...
|
| Person: |
Cameron, Edwin
Verfasser aut Honoré, Tony 1921-2019 Begründer eines Werks |
| Hauptverfasser: | |
| Format: | Buch |
| Sprache: | Englisch |
| Veröffentlicht: |
Cape Town [u.a.]
Juta
2002
|
| Ausgabe: | 5. ed. |
| Schlagworte: | |
| Online-Zugang: | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=014673600&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| Beschreibung: | XCIV, 733 S. |
| ISBN: | 070215590X |
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Datensatz im Suchindex
| _version_ | 1819295397376425984 |
|---|---|
| adam_text | CONTENTS
PAGE
PREFACE V
AUTHORS NOTE VIII
PRINCIPAL WORKS CITED XXIII
TABLE OF STATUTES . . . XXV
TABLE OF CASES LI
CHAPTER 1 INTRODUCTION 1-30
1. DEFINITION OF TRUST
1
; SCOPE OF THIS BOOK 1
2. TRUSTS IN THE STRICT SENSE 4
3. MAIN FEATURES OF TRUSTS: STATUTORY DEFINITION 5
4. JUDICIAL DEFINITIONS OF TRUST 12
5. DIVERSE APPLICATIONS OF THE TRUST 14
6. SEPARATION OF MANAGEMENT, OWNERSHIP AND ENJOYMENT 17
7. FLEXIBILITY AND AUTONOMY OF TRUSTS 19
8. SOURCES AND IDENTITY OF THE SOUTH AFRICAN LAW OF TRUSTS 21
9. THE ENGLISH LAW OF TRUSTS 24
10. DEVELOPMENT OF THE BENEFICIARY S EQUITABLE INTEREST IN ENGLISH
TRUST LAW 26
11. THE RULE OF SURVIVORSHIP IN ENGLISH TRUST LAW 26
12. POSITION OF TRUSTEE S PRIVATE CREDITORS IN ENGLISH AND SOUTH
AFRICAN TRUST LAW 27
13. PERSONAL LIABILITY OF TRUSTEE IN ANGLO-AMERICAN LAW; CONTRAST WITH
SOUTH AFRICA 28
14. REMEDIES OF THE TRUST BENEFICIARY IN ANGLO-AMERICAN AND SOUTH
AFRICAN LAW 29
CHAPTER 2 TRUSTS AND OTHER INSTITUTIONS 32-115
15. INTRODUCTION: IMPORTANCE OF DISTINGUISHING TRUSTS FROM OTHER
INSTITUTIONS 32
A. CONTRACT
16. TRUST AND CONTRACT: STIPULATIO ALTERI 34
17. TRUST AND DONATION 35
18. THE VALIDITY OF DONATIONS 36
19. DONATION AS A LIBERALITY 37
20. IS A TRANSFER IN TRUST A DONATION TO THE TRUSTEE? 38
21. IS THERE A DONATION TO THE TRUST BENEFICIARY? 40
22. TRUSTS NOT TO BE CONSTRUED AS DOUBLE DONATIONS . . . . . 42
B. MODALITIES
23. CONDITION, TIME-LIMIT AND MODUS 43
IX
CONTENTS
PAGE
24. HISTORY OF MODUS 44
25. ENFORCEMENT OF MODUS IN ROMAN LAW 46
26. RECEPTION AND ENFORCEMENT OF MODUS IN SOUTH AFRICA: STANDING
TO ENFORCE A PUBLIC TRUST 46
27. WHERE NECESSARY INTENTION EXISTS, IMPERSONAL MODUS CAN ALWAYS
BE CONSTRUED AS TRUST 49
28. MODUS IN SOUTH AFRICAN CASE LAW 51
C. FIDEICOMMISSUM
29. TRUST AND FIDEICOMMISSUM IN MIXED ROMAN-DUTCH SYSTEMS 54
30. PRIVY COUNCIL AND SOUTH AFRICAN APPEAL COURT ON FIDEICOMMISSA ... 55
31. TRUSTEESHIP A PUBLIC OFFICE: TRUSTEE NOT BENEFICIALLY ENTITLED 57
32. KEMP V MACDONALD S TRUSTEE; BRAUN V BTANN 59
33. WHY FIDEICOMMISSA DID NOT DEVELOP INTO TRUSTS 60
34. TRUSTS AND FIDEICOMMISSA: DIFFICULTIES OF TERMINOLOGY 61
D. FOUNDATION
35. TRUST AND FOUNDATION (STIGTING) 62
36. HAS THE FOUNDATION BEEN RECEIVED IN SOUTH AFRICA? 64
37. SPENCE S CASE IS NOT AUTHORITY FOR THE RECEPTION OF THE FOUNDATION
IN SOUTH AFRICA 64
38. TRUST IS NOT EXCEPT BY STATUTE A JURISTIC PERSON 67
39. TRUST ESTATE IS SEPARATE ENTITY FOR SOME PURPOSES, INCLUDING
SEQUESTRATION 70
40. ROLE OF THE FOUNDATION IN SOUTH AFRICAN LAW 72
E. AGENCY AND PARTNERSHIP
41. TRUST, AGENCY AND PARTNERSHIP 73
42. TRUSTEESHIP, AGENCY AND TRANSFER OF IMMOVABLE PROPERTY 74
43. TRUSTEESHIP, AGENCY AND TRANSFER OF MOVABLES: BANK ACCOUNTS .... 77
44. CONTRACTS FOR UNFORMED COMPANIES 79
45. CRITICISM OF MCCULLOGH V FERNWOOD ESTATE 80
46. COMPANIES ACT SECTION 35; CLOSE CORPORATIONS ACT SECTION 53 82
47. RESIDUAL DIFFERENCES BETWEEN TRUSTEES AND AGENTS 84
48. RETROACTIVE EFFECT OF COMPANY S ADOPTION OF CONTRACT 85
49. TRUSTEE FOR UNFORMED COMPANY MAY SUE OR BE SUED IN PERSONAL
CAPACITY 86
50. PROMOTER AGREEING TO REVOKE OPTION 87
51. TRUSTEE AS REPRESENTATIVE TAXPAYER NOT AN AGENT 89
52. DEGREE OF CONTROL BY FOUNDER OR OTHERS OVER TRUST 89
F. COMPANIES AND CLOSE CORPORATIONS
53. BUSINESS TRUSTS, COMPANIES AND CLOSE CORPORATIONS 91
G. DEBT
54. TRUST AND DEBT 96
55. TRUSTEE S DUTY TO HAVE LIQUID FUNDS AVAILABLE 96
CONTENTS
PAGE
56. THE OWNERSHIP OF TRUST MONEY 97
57. IMPORTANCE OF DISTINCTION BETWEEN TRUST AND DEBT 100
58. NO THEFT WHEN MERE RELATIONSHIP OF DEBTOR AND CREDITOR EXISTS . .
102
59. CLARIFICATION AND REFORM OF LAW REGARDING THEFT OF TRUST MONEYS .
104
H. EXECUTORS AND ADMINISTRATORS
60. TRUSTEES AND ADMINISTRATORS 105
61. TRUSTEES AND EXECUTORS 108
62. FUNCTIONS OF EXECUTORS AND TRUSTEES 109
63. CRITERIA FOR CREATION OF TESTAMENTARY TRUST 110
64. IMPLIED TESTAMENTARY TRUST ILL
65. EXECUTOR OR OTHER PERSON ACTING AS DE FACTO TRUSTEE 112
66. OTHER DIFFERENCES BETWEEN EXECUTORS AND TRUSTEES 113
CHAPTER 3 FORMATION OF A TRUST 117-177
67. ESSENTIALS OF A VALID TRUST 117
A. INTENTION
68. INTENTION TO CREATE A TRUST 118
69. PRECATORY WORDS HELD INSUFFICIENT TO CREATE A TRUST 120
70. RE ESTATE GRAYSON: PRECATORY WORDS 123
71. PRECATORY WORDS HELD SUFFICIENT TO CREATE A TRUST 124
72. CIRV SIVE SESTATE, BRAUNVBLANN 125
73. INTENTION TO CREATE A TRUST INFERRED FROM CIRCUMSTANCES 127
74. TRUST CANNOT BE CREATED UNINTENTIONALLY: RESULTING TRUSTS 128
75. RESULTING TRUSTS NOT RECEIVED IN SOUTH AFRICA 130
76. CONSTRUCTIVE TRUSTS NOT RECEIVED IN SOUTH AFRICAN LAW 131
77. CONSTRUCTIVE TRUSTS REDUNDANT ALSO IN OTHER CASES 133
78. CONSTRUCTIVE TRUSTS IN SRI LANKA AND SCODAND 136
79. LEGAL EFFECT OF LACK OF INTENTION TO CREATE A TRUST 137
B. OBLIGATION
80. INTENTION MUST BE EXPRESSED IN MODE APPROPRIATE TO CREATE AN
OBLIGATION 137
81. TRUSTS THAT VARY THE LAND REGISTER 140
82. SECRET TRUSTS 142
83. UNILATERAL DECLARATION OF TRUST NOT PERMISSIBLE IN SOUTH AFRICA ...
143
84. UNILATERAL DECLARATION OF TRUST: SOUTH AFRICAN AUTHORITIES 144
C. PROPERTY
85. THE TRUST PROPERTY MUST BE DEFINED WITH SUFFICIENT CERTAINTY ... 146
D. OBJECT
86. THE TRUST OBJECT MUST BE SUFFICIENTLY CERTAIN 151
87. WHEN THE TRUST OBJECT IS BENEFIT TO PERSONS OR CLASSES OF
PERSON 151
XI
CONTENTS
PAGE
88. WHEN THERE IS NO DESIGNATED BENEFICIARY 151
89. DISCRETIONARY TRUSTS 152
90. NUDE PROHIBITION UPON ALIENATION INVALID 154
91. GIFTS TO TRUSTEES ON INSOLVENCY ETC OF THE BENEFICIARY 155
92. PROTECTIVE TRUSTS 157
93. GIFT COUPLED WITH PROHIBITION 157
94. ROBERTSON V ROBERTSON S EXECUTORS 158
95. GIFT OF CORPUS SUBJECT TO POSTPONEMENT OF DISTRIBUTION 160
96. WHEN THE OBJECT OF THE TRUST IS IMPERSONAL 161
97. BENEVOLENT CONSTRUCTION OF CHARITABLE TRUSTS 161
98. RE ESTATE GRAYSON: CERTAINTY OF OBJECTS 164
99. WHAT IS A CHARITABLE OBJECT? 164
100. ARE ALL TRUSTS FOR THE PUBLIC BENEFIT CHARITABLE? 166
101. PROFIT IS INCONSISTENT WITH CHARITY 167
102. SUBSIDIARY OBJECTS 168
103. CHARITABLE INSTITUTIONS : INCOME TAX 169
104. DONATIONS TAX AND ESTATE DUTY EXEMPTIONS 170
105. IMPERSONAL OBJECTS THAT ARE NOT CHARITABLE 170
106. EFFECT OF FAILURE OF TRUST OBJECT 171
E. LEGALITY
107. THE TRUST OBJECT MUST BE LAWFUL 171
108. NOMINEE HOLDINGS 173
109. FACTORS NOT ESSENTIAL TO THE FORMATION OF A VALID TRUST 176
CHAPTER 4 THE OFFICE OF TRUSTEE 179-237
110. ESSENTIALS OF TRUSTEESHIP 179
111. SUPERVISORY ROLE OF MASTER OVER OFFICE OF TRUSTEE: PUBLIC-LAW
DIMENSION OF TRUSTS 180
A. APPOINTMENT
112. LAWFUL APPOINTMENT 182
113. (A) APPOINTMENT BY FOUNDER 182
114. (B) APPOINTMENT BY TRUSTEES: ASSUMPTION 184
115. APPOINTMENT BY TRUSTEES: SUBROGATION 188
116. (C) APPOINTMENT BY THE BENEFICIARIES 189
117. (D) APPOINTMENT BY THE MASTER 191
118. MASTER S DUTY TO APPOINT TRUSTEE: INTEREST UNDER THE TRUST
PROPERTY CONTROL ACT 192
119. MASTER S DISCRETION TO APPOINT CO-TRUSTEE 197
120. (E) APPOINTMENT BY OTHER PERSONS 199
121. (F) APPOINTMENT BY STATUTE 200
122. (G) APPOINTMENT BY THE COURT 201
123. COURT S STATUTORY POWER TO APPOINT TRUSTEES 206
124. NUMBER OF TRUSTEES 207
XII
CONTENTS
PAGE
125. TRUSTEES APPOINTED BY VIRTUE OF AN OFFICE HELD; CORPORATIONS
AS TRUSTEES 208
126. CONFIRMATION AND RECOGNITION 212
127. (H)DE FACTO TRUSTEES 212
B. QUALIFICATIONS
128. QUALIFICATIONS OF TRUSTEES 213
129. TRUSTEES UNDER UNIT TRUST SCHEMES 216
C. ACCEPTANCE
130. THE TRUSTEE MUST ACCEPT THE OFFICE 216
D. AUTHORIZATION BY THE MASTER
131. WRITTEN AUTHORIZATION 218
132. FOREIGN TRUSTEES; RECOGNITION AND APPOINTMENT 223
E. LOSS OF OFFICE
133. HOW THE OFFICE OF TRUSTEE IS LOST 225
134. (^VACATION OF OFFICE AS TRUSTEE 225
135. (B) RESIGNATION AS TRUSTEE: COMMON-LAW POSITION 227
136. RESIGNATION IN TERMS OF THE TRUST PROPERTY CONTROL ACT 227
137. RESIGNATION WITH THE LEAVE OF THE COURT 229
138. PERMANENCY OF RESIGNATION 231
139. RETIREMENT OF TRUSTEES UNDER UNIT TRUST SCHEMES 231
140. (C) REMOVAL FROM OFFICE; STANDING TO APPLY TO COURT FOR REMOVAL
OFTRUSTEE 231
141. GROUNDS FOR REMOVAL BY COURT 233
142. POWER OF MASTER TO REMOVE TRUSTEES 235
143. REMOVAL BY OTHER AUTHORITIES 237
144. LEGAL EFFECTS OF LOSS OF OFFICE 237
CHAPTERS THE TRUSTEE S DUTY TO GIVE SECURITY . . . . 238-259
145. DUTY TO GIVE SECURITY 238
A. COMMON LAW
146. SECURITY AT COMMON LAW 239
B. STATUTE: TRUST PROPERTY CONTROL ACT
147. WHO IS A TRUSTEE UNDER THE TRUST PROPERTY CONTROL ACT? 240
148. WHAT IS TRUST PROPERTY UNDER THE TRUST PROPERTY CONTROL ACT? . . .
242
149. EXEMPTION FROM FURNISHING SECURITY UNDER THE TRUST PROPERTY
CONTROL ACT 243
150. THE MASTER S POWERS REGARDING SECURITY UNDER THE TRUST
PROPERTY CONTROL ACT 243
151. SUPPLEMENTARY POWERS OF THE MASTER REGARDING SECURITY 246
152. EXEMPTION BY THE COURT 247
153. INTERIM AUTHORIZATION PENDING FURNISHING OF SECURITY 251
XIII
CONTENTS
PAGE
154. COURT S SUPERVISION OVER MASTER S EXERCISE OF POWERS 251
155. FOREIGN TRUSTEES AND THE PROVISION OF SECURITY 252
156. FORM OF EXEMPTION: CONDITIONAL EXEMPTION 254
157. FORM, AMOUNT AND ENFORCEMENT OF SECURITY 255
158. LEGAL EFFECT OF FAILURE TO FURNISH SECURITY 256
159. COST OF FINDING SECURITY 258
CHAPTER 6 THE ADMINISTRATION OF A TRUST 262-344
160. GENERAL PRINCIPLES OF TRUST ADMINISTRATION 262
161. THE TRUST INSTRUMENT AND OTHER TRUST DOCUMENTS * LODGEMENT,
ACCESS AND PRESERVATION 264
162. INTERPRETATION AND RECTIFICATION OF TRUST DEED 268
A. CONTROL AND OWNERSHIP OF TRUST PROPERTY
163. TAKING POSSESSION OF TRUST PROPERTY 270
164. TRUSTEE S DUTY TO MAKE INVENTORY 271
165. TRUSTEE S DUTY TO COLLECT DEBTS DUE 272
166. OWNERSHIP OF THE TRUST PROPERTY 272
167. TESTAMENTARY TRUSTS: DELIVERY AND ENDORSEMENT UNDER THE
ADMINISTRATION OF ESTATES ACT 277
168. TRUSTS CREATED BY LIVING PERSONS (INTER VIVOS): TRANSFER OF TRUST
PROPERTY TO TRUSTEE 279
169. FINANCIAL INSTITUTIONS AS TRUSTEES: DUTY TO SECURE REGISTRATION
.... 283
170. NATURE OF TRUSTEE S OWNERSHIP 288
171. STATUTORY SEPARATION OF TRUST ASSETS 292
172. LOSS OF OWNERSHIP 294
173. DUTY TO KEEP TRUST ASSETS SEPARATE 294
B. DEALING WITH TRUST ASSETS
174. DUTY TO PRESERVE TRUST PROPERTY 296
175. DUTY TO FREE TRUST PROPERTY FROM BURDENS 297
176. DUTY TO INVEST TRUST FUNDS * TRUSTEE S POWER OF INVESTMENT .... 297
177. TRUSTEE S DUTY TO OBTAIN REASONABLE RETURN ON TRUST CAPITAL ....
306
178. DUTY TO OPEN A BANK ACCOUNT 306
179. DUTY TO RETAIN RESERVE 306
180. TRUSTEE S POWER OF SALE 307
181. TRUSTEE S POWER TO RUN A BUSINESS 308
182. TRUSTEE S POWER TO TAKE OVER ASSETS AND LIABILITIES OF BUSINESS ...
311
183. TRUSTEE S POWER TO EXCHANGE TRUST PROPERTY 311
184. TRUSTEE S POWER TO MORTGAGE TRUST PROPERTY 312
185. TRUSTEE S POWER TO GUARANTEE LOAN OR STAND SURETY 312
186. TRUSTEE S POWER TO BORROW MONEY 313
187. TRUSTEE S POWER TO RECEIVE TRANSFER OR TO ACCEPT MORTGAGE 313
188. TRUSTEE S POWER TO LET TRUST PROPERTY 313
XIV
CONTENTS
PAGE
189. TRUSTEE S DUTY TO TRANSFER INCOME AND CAPITAL 313
190. TRUST INSTRUMENT SHOULD CONFER ADEQUATE POWERS 314
C. IMPARTIALITY
191. AVOIDING CONFLICT OF INTERESTS 315
192. DUTY TO TREAT BENEFICIARIES IMPARTIALLY: POOL OR SEPARATE TRUSTS .
. . 316
193. CAPITAL AND INCOME: PRESENT AND FUTURE BENEFICIARIES 316
194. ADVANCING CAPITAL 318
195. DISCRETION TO WITHHOLD INCOME 319
196. TRUSTEE S DUTY REGARDING REVOCATION OR VARIATION OF TRUST 320
D. CONDUCT OF TRUST AFFAIRS
197. INTERNAL BUSINESS: DOCUMENTS, MEETINGS AND DECISIONS 320
198. BUSINESS WITH OUTSIDERS: TRUSTEES MUST ACT JOINTLY 324
199. ACCOUNTABILITY: DUTY TO FURNISH ADDRESS AND TO REMAIN IN REPUBLIC
325
200. DUTY OF ACTIVE SUPERVISION AND INQUIRY 326
201. DELEGATION VERSUS ABDICATION OF TRUSTEE S AUTHORITY * POWER TO
EMPLOY EXPERTS 326
202. TRUSTEE S RIGHT TO APPROACH COURT FOR DIRECTION 329
203. DUTY TO MAKE DISCLOSURE TO BENEFICIARIES 329
204. DUTY TO ADVERTISE UNCLAIMED MONEYS 330
E. DUTY TO ACCOUNT
205. TRUSTEE S DUTY TO ACCOUNT 331
206. DUTY TO ACCOUNT (A) COMMON LAW 331
207. WHO MAY DEMAND ACCOUNT: COMMON-LAW POSITION 333
208. DUTY TO ACCOUNT: (B) ATTORNEYS ACT 335
209. ATTORNEYS ACT: SEPARATE TRUST BANKING ACCOUNT 336
210. ATTORNEYS ACT: BANKING INSTITUTION 337
211. SHALL DEPOSIT ; INVESTMENT IN INTEREST-BEARING ACCOUNT 338
212. * MONEY HELD OR RECEIVED ON ACCOUNT OF ANY PERSON 339
213. ATTORNEYS ACT: ACCOUNTING RECORDS 340
214. DUTY TO ACCOUNT: (C) ESTATE AGENCY AFFAIRS ACT 342
215. DUTY TO ACCOUNT: (D) TRUST PROPERTY CONTROL ACT 343
CHAPTER 7 THE TRUSTEE S EXPENSES, REMUNERATION AND PROFITS
345-359
216. GENERAL PRINCIPLE 345
217. RIGHT TO INDEMNITY FOR EXPENSES 345
218. STATUTORY RIGHT TO REMUNERATION 348
219. RIGHT TO REMUNERATION: COMMON LAW 350
220. GUARANTEE COMMISSION 353
221. SALARY AS MANAGER OF BUSINESS 354
222. PROFESSIONAL FEES 354
XV
CONTENTS
PAGE
223. PROFITS FROM THE TRUST: CONFLICT BETWEEN DUTY AND INTEREST 355
224. IMPROPER ADVANTAGES UNDER THE FINANCIAL INSTITUTIONS (INVESTMENT
OF FUNDS) ACT 358
CHAPTER 8 LIABILITY FOR BREACH OF TRUST AND OTHER DEFAULTS
361-416
225. GENERAL 361
A. CIVIL REMEDIES
226. BENEFICIARY S ACTION TO ENFORCE TRUST 361
227. AQUILIAN ACTION FOR BREACH OF TRUST 362
228. EXEMPTION FROM LIABILITY FOR BREACH OF TRUST 369
229. WHO MAY SUE FOR BREACH OF TRUST: THE DIRECT AND REPRESENTATIVE
ACTIONS 373
230. WHO MAY BE SUED FOR BREACH OF TRUST 375
231. WRONG DISTRIBUTION BY TRUSTEE 386
232. DEFENCES TO ACTION FOR BREACH OF TRUST 387
233. ACTION FOR DELIVERY OF TRUST PROPERTY 388
234. INTERDICT AGAINST ALIENATION OF TRUST PROPERTY 389
235. ACTIONS AGAINST FIDELITY FUNDS 389
236. UNJUST ENRICHMENT 389
237. CONDONATION OF BREACH OF TRUST BY COURT 391
238. FUND FROM WHICH CIVIL CLAIMS MAY BE SATISFIED 391
239. REMEDIES UNDER THE TRUST PROPERTY CONTROL ACT 1988 391
B. CRIMINAL REMEDIES
240. THEFT AND OTHER CRIMES 392
C. ADMINISTRATIVE AND STATUTORY REMEDIES
241. NATURE OF ADMINISTRATIVE AND STATUTORY REMEDIES 394
242. DISCIPLINARY PROCEEDINGS AGAINST PRACTITIONERS 395
243. INVESTIGATION BY LAW SOCIETY 396
244. STRIKING OFF THE ROLL 396
245. SUSPENSION 399
246. LESSER PENALTIES: SUSPENDED SUSPENSION, REPRIMAND 401
247. READMISSION TO PRACTICE 403
248. PRESERVING MONEY IN TRUST ACCOUNTS 403
249. ATTORNEYS FIDELITY FUND 405
250. FIDELITY FUND: ESTATE AGENTS 412
251. INVESTIGATION AT INSTANCE OF MASTER UNDER TRUST PROPERTY CONTROL
ACT 413
252. INVESTIGATION BY REGISTRAR OF UNIT TRUST COMPANIES 415
253. INVESTIGATION BY REGISTRAR OF FINANCIAL INSTITUTIONS 415
254. INVESTIGATION OF ESTATE AGENTS* AFFAIRS 416
XVI
CONTENTS
PAGE
CHAPTER 9 LEGAL PROCEEDINGS AND COSTS 417-442
A. LEGAL PROCEEDINGS
255. LEGAL STANDING (LOCUS STANDI) IN MATTERS RELATING TO TRUSTS 417
256. PROCEEDINGS BY OR AGAINST TRUSTEES 419
257. POSITION OF TRUSTEES IN PROCEEDINGS BY OR AGAINST ASSOCIATIONS . .
. 421
258. (A) ASSOCIATIONS THAT ARE JURIS TIC PERSONS 422
259. (B) UNINCORPORATED ASSOCIATIONS 425
260. WHO MUST BE JOINED? 426
261. REPORT BY THE MASTER 427
262. TRUSTEE MAY COMPROMISE PROCEEDINGS 427
263. DEFENCES TO ACTION FOR BREACH OF TRUST 428
264. EXECUTION OF JUDGMENT 428
B. COSTS
265. THE GENERAL PRINCIPLE 428
266. AWARD OF COSTS AGAINST TRUSTEE 431
267. AWARD OF COSTS DE BONIS PROPRIIS AT COMMON LAW 433
268. INSPECTION UNDER THE ATTORNEYS ACT 437
269. AWARD OF COSTS TO OR AGAINST NON-TRUSTEES 438
CHAPTER 10 THE TAXATION OF TRUSTS 444-489
270. GENERAL 444
A. INCOME TAX
271. NATURE OF THE TAX 444
272. INCIDENCE OF THE TAX 444
273. (A) WHEN INCOME THE SUBJECT OF A TRUST IS ASSESSABLE TO THE
BENEFICIARY 445
274. THE AMOUNT FOR WHICH THE BENEFICIARY IS SUBJECT TO INCOME TAX . .
449
275. GIFTS TO A FOR THE SUPPORT OF B 450
276. (B) WHEN INCOME THE SUBJECT OF THE TRUST IS ASSESSABLE TO THE TRUST
451
277. CAPITAL AND INCOME: REALIZATION AND STAFF INCENTIVE TRUSTS 452
278. EXEMPTION FROM TAX OF CERTAIN TRUSTS 453
279. (C) WHEN INCOME IS ASSESSABLE TO DONOR: SECTION 7(3), (4) 454
280. STIPULATION POSTPONING RECEIPT OF INCOME: SECTION 7(5) 456
281. WHEN DONOR RESERVES RIGHT TO REVOKE GIFT OF INCOME OR RETAINS
INTEREST IN CEDED INCOME: SECTION 7(6), (7) 458
282. TAX AVOIDANCE SCHEMES 459
283. WHO IS LIABLE TO PAY INCOME TAX? THE TRUSTEE AS REPRESENTATIVE
TAXPAYER 461
B. DONATIONS TAX
284. NATURE OF THE TAX 461
285. EXEMPTIONS FROM DONATIONS TAX 464
286. ASSESSMENT AND PAYMENT OF DONATIONS TAX 466
XVII
CONTENTS
PAGE
C. ESTATE DUTY
287. NATURE OF THE TAX 468
288. OFWHAT DOES ESTATE CONSIST? 468
289. DEEMED PROPERTY 470
290. PROPERTY OF WHICH DECEASED WAS COMPETENT TO DISPOSE 471
291. WHAT DEDUCTIONS ARE ALLOWABLE IN FIXING THE NET VALUE OF AN ESTATE?
473
292. BY WHOM IS THE DUTY PAYABLE? 475
293. VALUATION OF PROPERTY: FIDUCIARY, USUFRUCTUARY AND OTHER LIKE
INTERESTS 478
294. VALUATION WHEN VESTING POSTPONED AFTER CESSATION OF INTEREST OF
DECEASED 482
295. VALUATION OF ANNUITY CHARGED ON PROPERTY 482
296. VALUATION OF PROPERTY DEEMED TO BE PROPERTY OF DECEASED 484
297. VALUATION OF RIGHT OF OWNERSHIP SUBJECT TO USUFRUCTUARY OR LIKE
INTEREST 484
298. VALUATION IN OTHER CASES 484
299. DUTIABLE AMOUNT, DEDUCTIONS AND RATE OF DUTY 485
300. ADMINISTRATIVE ARRANGEMENTS 485
D. TRANSFER DUTY
301. TRANSFER DUTY 486
CHAPTER 11 THE REVOCATION, VARIATION AND TERMINATION OF TRUSTS
491-551
302. DEFINITIONS 491
A. THE FOUNDER
303. REVOCATION OR VARIATION BY UNILATERAL ACT 492
304. REVOCATION OR VARIATION BY FOUNDER WITH CONSENT OF TRUSTEE .... 493
305. ACCEPTANCE BY OR ON BEHALF OF BENEFICIARY 498
306. THE PEREZIAN EXCEPTION 501
307. THE FOUNDER S LEGAL STANDING 503
B. THE TRUSTEE
308. WHEN TRUSTEE S CONSENT IS NECESSARY 504
309. APPLICATION TO COURT FOR VARIATION OF TRUST 506
C. BENEFICIARIES
310. WHEN THE BENEFICIARIES MAY VARY OR REVOKE 506
311. FAMILY ARRANGEMENTS 508
312. EXCHANGE OF FIDEICOMMISSARY PROPERTY 511
313. VARIATION OF TRUSTS CREATED BY ANTENUPTIAL CONTRACT 511
D. THE COURT
314. COURT HAS A LIMITED COMMON-LAW JURISDICTION TO VARY OR TERMINATE
TRUSTS 515
XVIII
CONTENTS
PAGE
315. (A) STATUTORY POWERS OF COURT: TRUST PROPERTY CONTROL ACT SECTION
13 517
316. (B) IMMOVABLE PROPERTY (REMOVAL OR MODIFICATION OF RESTRICTIONS)
ACT 520
317. (C) SUPPOSED VARIATION WITHIN THE POWERS CONFERRED BY THE TRUST
INSTRUMENT 522
318. (D) COMMON-LAW POWERS: NECESSITY 524
319. (E) FRUSTRATION OF THE OBJECT OF THE TRUST: IMPOSSIBILITY, CHANGE
OF
CIRCUMSTANCE 527
320. (F) VARIATION OF CHARITABLE TRUSTS: THE CYPRES RULE 530
321. ORIGINAL OBJECT OR MODE IMPOSSIBLE 531
322. ORIGINAL OBJECT OR MODE IMPRACTICABLE 533
323. ORIGINAL OBJECT AND MODE NOT IMPOSSIBLE OR IMPRACTICABLE 533
324. CHOICE BY CY PRES OBJECT OR MODE 535
325. SUBSTITUTE MODES 535
326. SUBSTITUTE OBJECTS 536
327. WHEN CYPRES DOES NOT APPLY 538
328. FOUNDER S INTENTION CONFINED TO SPECIFIC OBJECT OR MODE 539
329. SUBSTITUTE PROVISIONS IN TRUST INSTRUMENT 540
330. DESTINATION OF FUND WHEN CYPRES DOES NOT APPLY 540
331. (G) CONSENT OF THE COURT ON BEHALF OF MINOR OR UNBORN BENEFICIARIES
541
332. (H) PARTICULAR VARIATIONS: SALE DESPITE PROHIBITION IN TRUST
INSTRUMENT 544
333. APPLICATIONS TO POSTPONE OR DISPENSE WITH REALIZATION OF ASSETS . .
546
334. APPLICATIONS FOR AUTHORITY TO CARRY ON BUSINESS 546
335. APPLICATIONS TO WIDEN THE RANGE OF PERMISSIBLE INVESTMENTS .... 546
336. APPLICATIONS TO BORROW MONEY ON SECURITY OF TRUST PROPERTY .... 546
337. APPLICATIONS TO LET TRUST PROPERTY OR MAKE PROSPECTING CONTRACT .
547
338. APPLICATIONS TO AUTHORIZE THE EXCHANGE OF TRUST PROPERTY 547
339. APPLICATIONS TO AUTHORIZE OR CONFIRM BUYING IN OF MORTGAGED
PROPERTY 548
340. APPLICATIONS FOR INCREASED MAINTENANCE 548
341. APPLICATIONS FOR ADVANCEMENT OF CAPITAL 548
342. FUNCTION OF THE MASTER 548
E. OPERATION OF LAW
343. TERMINATION BY OPERATION OF LAW 549
344. EFFECT OF TERMINATION 551
CHAPTER 12 THE TRUST BENEFICIARY 55&-617
345. WHO MAY BE BENEFICIARY 553
346. ACCEPTANCE AND RENUNCIATION 555
A. THE BENEFICIARYS RIGHTS
347. NATURE OF THE BENEFICIARY S RIGHTS: VESTED RIGHTS 555
348. CONTINGENT RIGHTS: DISCRETIONARY TRUSTS 557
XIX
CONTENTS
PAGE
349. WHEN TRUSTEE OWNS TRUST PROPERTY BENEFICIARY HAS IN GENERAL ONLY
A PROTECTED RIGHT IN PERSONAM 558
350. TRUSTS OF IMMOVABLES 565
351. PROPERTY REGISTERED IN THE NAME OF FINANCIAL INSTITUTIONS AND LEGAL
PRACTITIONERS IN THEIR CAPACITY AS TRUSTEE ETC 568
352. TRUST ACCOUNTS OF LEGAL PRACTITIONERS AND ESTATE AGENTS 569
353. TRUST BENEFICIARIES RIGHTS ON INSOLVENCY OF TRUSTEE 571
354. EXECUTION AGAINST TRUST PROPERTY 573
355. RIGHTS OF BENEFICIARIES ON DEATH OF TRUSTEE 574
356. RIGHTS OF BENEFICIARIES AGAINST ACQUIRERS OF TRUST PROPERTY 576
357. RIGHT OF BENEFICIARY UNDER BEWIND-TRUST 578
358. THE TRUST ESTATE: BENEFICIAL OWNERSHIP AND BENEFICIAL INTEREST
. . 579
B. THE CAPITAL BENEFICIARY
359. CAPITAL AND INCOME BENEFICIARIES 580
360. WHEN GIFT OF INCOME BY WILL IS CONSTRUED AS GIFT OF CAPITAL 580
361. WHEN THERE ARE SUCCESSIVE BENEFICIARIES 581
362. FA) WHEN FIRST TAKER HAS A POWER OF APPOINTMENT 583
363. (I) WHEN THERE IS NO GIFT OF THE CAPITAL IN DEFAULT OF APPOINTMENT
. 584
364. (II) WHEN THERE IS A GIFT OF THE CAPITAL IN DEFAULT OF APPOINTMENT
. 588
365. (B) WHEN THE FIRST TAKER HAS NO POWER OF APPOINTMENT 591
366. THE POSITION OF THE CAPITAL BENEFICIARY 593
367. VESTING: THE RULE IN STRYDOMV STRYDOM S TRUSTEE 593
368. WHEN VESTING IS POSTPONED 596
369. NO LIMIT TO REMOTENESS OF VESTING OF INTEREST IN CAPITAL 601
370. ACCRUAL: THE VERBIS TANTUM RULE 601
371. ACCELERATION AND RENUNCIATION 603
372. DIVESTING NOT FAVOURED 605
C. THE INCOME BENEFICIARY
373. VESTING OF INCOME IN THE INCOME BENEFICIARY 607
374. WHAT IS INCOME? 607
375. INCOME PENDING DISTRIBUTION OF CAPITAL: ACCRUAL 610
376. CESSION OF BENEFICIARY S RIGHTS 614
377. LOSS OF RIGHTS BY BENEFICIARY 615
378. REMEDIES OF THE BENEFICIARY 617
CHAPTER 13 UNIT TRUSTS AND PARTICIPATION BONDS .... 618-645
379. INTRODUCTION 618
A. UNIT TRUSTS
380. NATURE OF A UNIT TRUST 619
381. RESTRICTIONS ON THE SETTING UP AND CARRYING ON OF UNIT TRUSTS . . .
621
382. THE REGISTRAR OF UNIT TRUST COMPANIES 623
383. THE MANAGEMENT COMPANY 623
XX
CONTENTS
PAGE
384. THE UNIT TRUST DEED 625
385. VARIATION OF THE TRUST DEED 627
386. THE TRUSTEE 628
387. DUTIES OF TRUSTEE 629
388. INVESTIGATION BY REGISTRAR 630
389. DUTIES ON WINDING-UP OF MANAGEMENT COMPANY 632
390. REMUNERATION OF TRUSTEE 633
391. RETIREMENT OF TRUSTEE 634
392. THE BENEFICIARIES: UNIT CERTIFICATE HOLDERS 634
393. UNIT TRUST SCHEMES IN PROPERTY SHARES 635
394. OFFENCES UNDER THE ACT 636
395. THE COLLECTIVE INVESTMENT SCHEMES CONTROL BILL 1999 636
B. PARTICIPATION BONDS
396. NATURE OF PARTICIPATION BOND 639
397. THE PARTICIPATION BONDS ACT 1981 640
398. ADMINISTRATION OF PARTICIPATION BOND SCHEMES 642
CHAPTER 14 JURISDICTION AND CONFLICT OF LAWS 646-681
A. JURISDICTION
399. BASIS OF JURISDICTION 646
400. WHEN THE CLAIM SOUNDS IN A MONEY JUDGMENT 650
401. PROCEEDINGS RELATING TO PROPERTY: THE MASTER S JURISDICTION UNDER
THE TRUST PROPERTY CONTROL ACT 653
402. OTHER PROCEEDINGS RELATING TO PROPERTY 655
B. CHOICE OF LAW
403. BASIS OF CHOICE OF LAW 659
404. (A) TRUSTS OF IMMOVABLE PROPERTY 661
405. (B) TRUSTS OF MOVABLES CREATED BY WILL: VALIDITY OF TRUST
INSTRUMENT 665
406. VALIDITY OF TRUST DISPOSITION 666
407. INTERPRETATION OF TRUST INSTRUMENT 667
408. ADMINISTRATION OF TRUST 669
409. SOUTH AFRICAN AUTHORITIES ON TESTAMENTARY TRUST OF MOVABLES . . .
671
410. (C) TRUSTS OF MOVABLES CREATED INTER VIVOS 673
411. (D) POWERS OF APPOINTMENT IN RESPECT OF MOVABLE PROPERTY 678
412. SOUTH AFRICAN AUTHORITIES ON POWERS OF APPOINTMENT 679
INDEX 683
XXI
|
| any_adam_object | 1 |
| author | Cameron, Edwin |
| author_GND | (DE-588)121079325 |
| author_facet | Cameron, Edwin |
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| building | Verbundindex |
| bvnumber | BV021453362 |
| ctrlnum | (DE-599)BVBBV021453362 |
| edition | 5. ed. |
| format | Book |
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| geographic | Südafrika (DE-588)4078012-0 gnd |
| geographic_facet | Südafrika |
| id | DE-604.BV021453362 |
| illustrated | Not Illustrated |
| indexdate | 2024-12-20T12:34:03Z |
| institution | BVB |
| isbn | 070215590X |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-014673600 |
| open_access_boolean | |
| owner | DE-M382 |
| owner_facet | DE-M382 |
| physical | XCIV, 733 S. |
| publishDate | 2002 |
| publishDateSearch | 2002 |
| publishDateSort | 2002 |
| publisher | Juta |
| record_format | marc |
| spellingShingle | Cameron, Edwin Honoré's South African law of trusts Kartellrecht (DE-588)4029788-3 gnd Trust (DE-588)4129154-2 gnd |
| subject_GND | (DE-588)4029788-3 (DE-588)4129154-2 (DE-588)4078012-0 |
| title | Honoré's South African law of trusts |
| title_alt | South African law of trusts |
| title_auth | Honoré's South African law of trusts |
| title_exact_search | Honoré's South African law of trusts |
| title_full | Honoré's South African law of trusts by Edwin Cameron with ... |
| title_fullStr | Honoré's South African law of trusts by Edwin Cameron with ... |
| title_full_unstemmed | Honoré's South African law of trusts by Edwin Cameron with ... |
| title_short | Honoré's South African law of trusts |
| title_sort | honore s south african law of trusts |
| topic | Kartellrecht (DE-588)4029788-3 gnd Trust (DE-588)4129154-2 gnd |
| topic_facet | Kartellrecht Trust Südafrika |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=014673600&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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