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		<title>Amendments to the Trustees (Perpetual Succession) Act Cap 164</title>
		<link>https://netsheria.com/amendments-to-the-trustees-perpetual-succession-act-cap-164/</link>
		
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		<pubDate>Tue, 21 May 2024 09:02:27 +0000</pubDate>
				<category><![CDATA[Articles]]></category>
		<category><![CDATA[2024 legal amendments]]></category>
		<category><![CDATA[perpetual succession Act amendments 2024]]></category>
		<category><![CDATA[trust registration application form]]></category>
		<category><![CDATA[trust registration form]]></category>
		<category><![CDATA[trustees]]></category>
		<category><![CDATA[Trustees (Perpetual Succession) Act Cap 164]]></category>
		<category><![CDATA[what does the 2024 amendment on the trustees act cap 164 mean?]]></category>
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					<description><![CDATA[<p>The Trustees (Perpetual Succession) Act is a vital piece of legislation that provides for the incorporation of trusts, ensuring the perpetual succession of property.</p>
<p>The post <a href="https://netsheria.com/amendments-to-the-trustees-perpetual-succession-act-cap-164/">Amendments to the Trustees (Perpetual Succession) Act Cap 164</a> appeared first on <a href="https://netsheria.com">Netsheria</a>.</p>
]]></description>
										<content:encoded><![CDATA[<div id="bsf_rt_marker"></div><h3><b>Introduction</b><span data-ccp-props="{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:360}"> </span></h3>
<p><span data-contrast="auto">The Trustees (Perpetual Succession) Act is a vital piece of legislation that provides for the incorporation of trusts, ensuring the perpetual succession of property. The recent amendments to this Act, as part of the Statute Law (Miscellaneous Amendments) Act 2024, signed by President William Ruto and gazetted on April 26, 2024, introduce significant changes aimed at enhancing the functionality and governance of trustee operations. This article delves into the specific amendments and their implications.</span><span data-ccp-props="{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:276}"> </span></p>
<h4><b>Analysis of the amendments to the Act</b></h4>
<p><span data-contrast="auto">Prior to the recent amendments, establishing a Trust involved </span><span data-contrast="auto">executing a Trust Deed</span><span data-contrast="auto">, which then required </span><span data-contrast="auto">stamping</span><span data-contrast="auto"> and </span><span data-contrast="auto">subsequent registration at the Lands Registry</span><span data-contrast="auto"> in accordance with the </span><span data-contrast="auto">Registration of Documents Act</span><span data-contrast="auto">. This process ensured that the Trust was legally recognized and enforceable. </span><span data-ccp-props="{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:276}"> </span></p>
<p><span data-contrast="auto">However, with the introduction of the amendments, the procedure for registering a Trust has undergone a significant change. The responsibility for the registration of Trusts has now been transferred to the </span><b><span data-contrast="auto">Registrar of Companies</span></b><span data-contrast="auto">. This shift aims to streamline and simplify the procedures involved. With the functions of the registrar of companies now available via e-citizen, this is a step in the right direction by promoting and embracing technology in this critical process. </span><span data-ccp-props="{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:276}"> </span></p>
<h4><b>Process of registration</b></h4>
<p><span data-contrast="auto">The amendment stipulates that the trust registration application form, as specified as in the first schedule, must be submitted along with requisite documents capturing the details of the proposed trust, proposed settlor, trustees and/or enforcers and details of the subject matter property.</span><span data-ccp-props="{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:276}"> </span></p>
<p><span data-contrast="auto">The amendment also removes the requirement by a trust to submit a common seal together with its regulations for its custody and use for registration purposes.</span><span data-ccp-props="{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:276}"> </span></p>
<h4><b>Conclusion</b><span data-ccp-props="{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:276}"> </span></h4>
<p><span data-contrast="auto">What we can draw from the latest amendment is that the registration of a trust is now under the </span><b><span data-contrast="auto">Registrar of companies</span></b><span data-contrast="auto"> as opposed to the previous position where the registration was undertaken at the Lands Registry in accordance with the Registration of Documents Act.</span><span data-ccp-props="{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:276}"> </span></p>
<p><i><span data-contrast="auto">At Netsheria International, we pride ourselves for having a wide variety of skillsets, resources and expertise to meet your needs in matters related to trusts and subsequent incorporation. Kindly visit<span style="color: #cc3366;"> <a style="color: #cc3366;" href="https://netsheria.com/">our website</a></span></span></i><i><span data-contrast="auto"> where you can access our services at the click of a button. You can also reach out to us via <span style="color: #cc3366;"><a style="color: #cc3366;" href="mailto:info@netsheria.com">email</a></span> on </span></i><i><span data-contrast="auto">or call us on <span style="color: #cc3366;">+254 741 296 087</span> for any questions or guidance regarding this topic or any other legal queries you may have.</span></i><span data-ccp-props="{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:276}"> </span></p>
<p>The post <a href="https://netsheria.com/amendments-to-the-trustees-perpetual-succession-act-cap-164/">Amendments to the Trustees (Perpetual Succession) Act Cap 164</a> appeared first on <a href="https://netsheria.com">Netsheria</a>.</p>
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