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Blind Trust Agreement

Blind Trust Agreement Template for United Arab Emirates

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Key Requirements PROMPT example:

Blind Trust Agreement

"I need a Blind Trust Agreement under UAE law for a newly appointed government minister who will take office on March 1, 2025, with specific provisions for handling a diverse portfolio of international investments and maintaining strict communication barriers."

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Document background
The Blind Trust Agreement is a specialized legal instrument used when individuals need to establish a complete separation between themselves and their financial interests, typically due to public office appointments, regulatory requirements, or potential conflicts of interest. Under UAE law, including DIFC Trust Law No. 4 of 2018 and relevant ADGM regulations, this agreement creates a structure where assets are managed by an independent trustee without the settlor's knowledge or influence. The document includes comprehensive provisions for asset transfer, investment management, regulatory compliance, and strict communication protocols. It's particularly relevant for government officials, board members, and executives who must demonstrate independence from their financial interests while serving in positions of public trust or regulatory oversight.
Suggested Sections

1. Parties: Identification of the Settlor (asset owner), the Trustee (independent professional trustee/trust company), and the Trust Protector (if appointed)

2. Background: Context of the trust creation, including the settlor's desire to establish a blind trust to avoid conflicts of interest

3. Definitions: Key terms used throughout the agreement, including 'Trust Property', 'Blind Trust', 'Investment Guidelines', etc.

4. Trust Establishment: Declaration of trust, initial trust property, and trust purpose

5. Independence Provisions: Specific provisions ensuring separation between settlor and trust management

6. Trustee Powers: Comprehensive powers granted to the trustee for independent management of trust assets

7. Trustee Duties: Obligations of the trustee including investment management, confidentiality, and reporting requirements

8. Investment Guidelines: General parameters for investment while maintaining blind nature of the trust

9. Communication Protocol: Strict rules governing communication between settlor and trustee

10. Duration and Termination: Term of the trust and circumstances for termination

11. Fees and Expenses: Trustee compensation and trust expense provisions

12. Governing Law and Jurisdiction: Specification of UAE law application and jurisdiction (DIFC/ADGM/onshore UAE)

Optional Sections

1. Trust Protector Provisions: Required if a trust protector is appointed to provide additional oversight

2. Successor Trustee Provisions: Detailed provisions for trustee replacement if desired

3. Tax Considerations: Specific provisions addressing tax implications if relevant to the settlor's circumstances

4. Beneficiary Provisions: Required if there are specific beneficiaries other than the settlor

5. Conflict Resolution: Detailed dispute resolution procedures if not relying on standard jurisdiction provisions

6. Force Majeure: Provisions for handling extraordinary circumstances affecting trust administration

7. Ethical Screens: Additional provisions for maintaining separation when settlor has specific professional duties

Suggested Schedules

1. Schedule 1 - Initial Trust Property: Detailed inventory of assets initially placed in trust

2. Schedule 2 - Trustee Fee Schedule: Detailed breakdown of trustee compensation and fee structure

3. Schedule 3 - Investment Guidelines: Detailed investment parameters and restrictions

4. Schedule 4 - Authorized Communications: List of permitted communications and reporting formats

5. Schedule 5 - Prohibited Investments: List of specifically excluded investments or asset classes

6. Appendix A - KYC Documentation: Required documentation for UAE regulatory compliance

7. Appendix B - Reporting Templates: Standardized formats for permitted communications and reports

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreement
Trust Property
Blind Trust
Settlor
Trustee
Trust Protector
Initial Trust Property
Distribution Date
Effective Date
Investment Guidelines
Trust Period
Trust Powers
Authorized Representative
Business Day
Communication Protocol
Confidential Information
Investment Mandate
Permitted Communication
Prohibited Transaction
Regulatory Authority
Trust Account
Trust Records
Trust Services
Valuation Date
Governing Law
Trust Deed
Beneficial Interest
Independent Advisor
Trust Expenses
Management Fee
Reporting Period
Security Interest
Trust Income
Trust Capital
Authorized Investments
Blind Management System
Conflict of Interest
Financial Year
Investment Return
Material Change
Clauses
Trust Establishment
Asset Transfer
Independence Requirements
Powers of Trustee
Duties of Trustee
Trust Protector Appointment
Investment Management
Asset Administration
Confidentiality
Communication Protocols
Reporting Requirements
Fee Structure
Expenses
Record Keeping
Compliance
Anti-Money Laundering
Asset Segregation
Conflict of Interest
Investment Restrictions
Risk Management
Succession Planning
Amendment
Termination
Force Majeure
Governing Law
Dispute Resolution
Indemnification
Liability
Tax Matters
Notices
Severability
Assignment
Entire Agreement
Relevant Industries

Financial Services

Government and Public Sector

Legal Services

Banking

Investment Management

Corporate Services

Wealth Management

Professional Services

Public Administration

Political Organizations

Relevant Teams

Legal

Compliance

Corporate Governance

Risk Management

Wealth Management

Trust Administration

Executive Office

Corporate Secretariat

Regulatory Affairs

Investment Management

Relevant Roles

Chief Executive Officer

Government Minister

Board Director

Public Official

Senior Civil Servant

Investment Manager

Trust Officer

Compliance Officer

Legal Counsel

Wealth Manager

Corporate Secretary

Risk Manager

Senior Executive

Political Appointee

Regulatory Officer

Industries
DIFC Trust Law No. 4 of 2018: The primary legislation governing trust arrangements in the Dubai International Financial Centre, providing the legal framework for trust creation, administration, and enforcement
DIFC Law No. 13 of 2004 (as amended): The DIFC's Regulatory Law establishing the legal framework for financial services regulation, which is relevant for trust service providers
UAE Federal Law No. 20 of 2018: Anti-Money Laundering Law that must be considered for compliance in trust arrangements and asset transfers
UAE Federal Law No. 5 of 1985: The Civil Transactions Law (Civil Code) which provides general principles for contracts and financial arrangements
ADGM Trust Regulations 2016: Abu Dhabi Global Market regulations governing trust arrangements, providing an alternative framework for trust establishment
UAE Central Bank Regulation Regarding Declared Beneficial Owner Procedures: Regulations concerning beneficial ownership disclosure and transparency, relevant for blind trust arrangements
DIFC Companies Law No. 5 of 2018: Relevant for corporate governance aspects when trust assets include company shares or corporate interests
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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