Trustee responsibilities have become even heavier
26 June 2024
The Trust Property Control Act 57 of 1988 (“TPCA”) provides the framework for the effective and efficient operation of a... trust. The Act confers a range of statutory duties on trustees when appointed, which duties have recently been extended by the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act 22 of 2022 (“Amendment Act”) which amended the TPCA. In this article, we unpack the duties that form part of the responsibilities which are assumed when a trustee is appointed.