GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | ||||||
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11:12 Feb 14, 2005 |
English language (monolingual) [PRO] Law/Patents - Law: Contract(s) / Articles of Incorporation | |||||||
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| Selected response from: David Knowles Local time: 16:48 | ||||||
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SUMMARY OF ALL EXPLANATIONS PROVIDED | ||||
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5 +4 | to hold a share as part of a trust fund |
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5 | se detail below |
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to hold a share as part of a trust fund Explanation: Shares can be legally owned by a trust fund, which is be set up to give out money as the trustees decide to the beneficiaries of the trust. This is often done to avoid taxes, such as inheritance tax. This regulation says that they require shares to be held by the "beneficial owner" (the person who really controls them) and not by some intermediary trust. -------------------------------------------------- Note added at 7 mins (2005-02-14 11:20:14 GMT) -------------------------------------------------- In a family trust, the beneficiaries of the trust will be family members, and the trustees may be also be family members, or solicitors appointed by the family. In this case, the \"real\" owners of the assets are the family members, but the \"apparent\" owner is the trust fund. |
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