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UK trust law permits ethical investment policies, to divest from assets beneficiaries object to or promote particular causes. [230] A trust deed may expressly allow it, or otherwise trustees must simply not make financially detrimental decisions and sufficiently diversify investments under the Trustee Act 2000 section 4(3). [231]
However, it appears that the reverse is not true - if a trust account is overdrawn then the bank can combine that with a trustee's personal account because the trustee is personally liable for the obligations of the trust. [7] Where account is subject to a security interest. Provided the security interest is fixed and not floating, this will ...
Allied Irish Bank (GB) and First Trust Bank, owned by AIB Group of the Republic of Ireland; Al Rayan Bank, owned by Masraf Al Rayan of Qatar; Axis Bank UK, owned by Axis Bank of India; Bank of Ceylon (UK), owned by Bank of Ceylon of Sri Lanka; Bank of Baroda (UK), owned by Bank of Baroda of India; Bank of China (UK), owned by Bank of China
Resulting trusts work on a principle of "common intention". This is the idea that a resulting trust is a mix of the settlor's intention, and the trustee's knowledge that he is not intended to be the beneficiary. In Carreras Rothmans Ltd v Freeman Mathews Treasure Ltd, [11] Gibson J expressed the principle as:
For trusts of real property, constructive trusts may arise in one of three situations. First, when the parties form an agreement to buy the land, or show "common intention" by jointly contributing to the price or mortgage of a property, as in Lloyds Bank plc v Rosset. [8]
The primary problem with Quistclose trusts is their categorisation within the accepted types of trust. The two-part trust structure (primary and secondary trusts) explained by Lord Wilberforce in Quistclose does not appear elsewhere in English trusts law, and the type of trust used affects the rights available to the parties. [9]
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Discretionary trusts are trusts which require that the trustees exercise their powers, in the same way as a fixed trust, but allow some discretion in how to do so, in a similar manner to mere powers. Since trustees hold the discretionary power to choose how to act under an established boundary set out by the settlor of a trust, evidential ...
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