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Trusts: Now an administrative nightmare?

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Trusts: Now an administrative nightmare?

South Africa’s recent greylisting has necessitated urgent changes to inter alia the Trust Property Control Act 57 of 1988 (Act).

Amendments have been made to sections 1, 6, 8, 10, 11, 19, 20 of the Act, as well as the regulations thereto, and came into effect on 1 April 2023. In particular, sections 10, 11 and 19 place obligations on trustees.

20 Apr 2023 1 min read Trusts & Estates Article

At a glance

  • Urgent changes to the Trust Property Control Act 57 of 1988 (Act) were prompted by South Africa's recent greylisting.
  • Amendments to sections 1, 6, 8, 10, 11, 19, and 20, along with related regulations, became effective on 1 April 2023, with a focus on imposing obligations on trustees in sections 10, 11, and 19.

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