Prospective
(1)Except in so far as the trust deed, expressly or by implication, provides otherwise, the supervisor of a private purpose trust has the same rights as a beneficiary would have—
(a)to bring an action, or make an application to the court, in respect of the trust,
(b)to be informed by the trustees of the terms of the trust deed,
(c)to receive information concerning the trust and its administration from the trustees, and
(d)to inspect, and take copies of, the trust documents.
(2)Subsections (4) and (6) to (9) of section 30 apply to a disclosure to a supervisor by virtue of subsection (1) as they apply to a disclosure to a beneficiary by virtue of subsection (1)(a) of that section.
(3)The supervisor has, in the performance of the supervisor’s duties as respects the private purpose trust, the same rights as a trustee would have—
(a)to protection and indemnity, and
(b)to make an application to the court for—
(i)an opinion,
(ii)advice or direction, or
(iii)relief from personal liability.
(4)In the event of a breach of trust, the supervisor has, on behalf of the private purpose trust, the same remedies against the trustees or a third party as a beneficiary would have.
(5)This section applies irrespective of when the trust was created.
Commencement Information
I1S. 50 not in force at Royal Assent, see s. 88(3)