Nominee Declaration Of Trust Template for England and Wales

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Key Requirements PROMPT example:

Nominee Declaration Of Trust

"I need a Nominee Declaration of Trust to set up a nominee arrangement where my company will hold shares in a UK property investment company on behalf of three overseas investors, with specific provisions for quarterly reporting and investment restrictions."

Document background
A Nominee Declaration of Trust is commonly used in England and Wales when there is a need to separate legal and beneficial ownership of assets. This arrangement might be required for confidentiality, administrative efficiency, or regulatory compliance. The document explicitly states the trust relationship, identifies the assets held in trust, outlines the nominee's duties and powers, and protects the beneficial owner's interests. It's particularly important in financial services, corporate structures, and property holdings where nominee arrangements are common practice.
Suggested Sections

1. Parties: Identifies the nominee trustee(s) and beneficial owner(s)

2. Background: Explains the context and purpose of the nominee arrangement

3. Definitions: Defines key terms used throughout the declaration

4. Declaration of Trust: Core declaration stating the nominee relationship

5. Trust Property: Identifies and describes the assets held in trust

6. Trustee Powers and Duties: Sets out the nominee's obligations and authority

7. Beneficial Owner's Rights: Specifies the beneficial owner's entitlements and control

Optional Sections

1. Remuneration: Details any fees payable to the nominee trustee - used when the nominee trustee is to be compensated

2. Appointment and Removal: Process for changing nominee trustees - used when flexibility in trusteeship is required

3. Indemnities: Protection for trustees acting properly - used when additional trustee protection is needed

Suggested Schedules

1. Schedule 1 - Trust Property: Detailed list and description of assets held in trust

2. Schedule 2 - Investment Powers: Specific investment authorities if relevant

3. Schedule 3 - Administrative Provisions: Detailed procedures for trust administration

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

Clauses
Industries

Trustee Act 1925: Foundational legislation governing trustees' powers, duties, and responsibilities in England and Wales

Trustee Act 2000: Modern legislation updating trustee investment powers and duties, including the duty of care and power to delegate

Law of Property Act 1925: Fundamental property law legislation affecting trusts involving real property and land

Land Registration Act 2002: Governs the registration of land ownership and trusts affecting land in England and Wales

Financial Services and Markets Act 2000: Regulates financial activities and investments that may be held in trust

Income Tax Act 2007: Governs taxation of trust income and distributions to beneficiaries

Taxation of Chargeable Gains Act 1992: Regulates capital gains tax implications for trust assets

Stamp Duty Land Tax Act 2003: Controls tax obligations when trusts acquire or dispose of real property

Finance Act 2006: Contains specific provisions affecting trust taxation and reporting requirements

Money Laundering Regulations 2017: Sets out anti-money laundering requirements and due diligence procedures for trusts

Proceeds of Crime Act 2002: Establishes legal framework to prevent use of trusts for money laundering or criminal purposes

Trust Registration Service Requirements: Mandatory registration requirements for certain types of trusts under anti-money laundering regulations

Mental Capacity Act 2005: Governs issues relating to trustee mental capacity and decision-making abilities

Powers of Attorney Act 1971: Regulates delegation of trustee powers through power of attorney arrangements

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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