Monday, April 12, 2021
Article: To Good Purpose: Non-Charitable Purpose Trusts for the Specific Purpose of Holding Shares in Perpetuity in Singapore
Terence Yeo and Victoria Liu recently published an article entitled, To Good Purpose: Non-Charitable Purpose Trusts for the Specific Purpose of Holding Shares in Perpetuity in Singapore, Wills, Trusts, & Estates Law ejournal (2021). Provided below is the abstract to the Article:
This article considers the issue of whether Singapore should amend its trust laws to allow for non-charitable purpose trusts (NCPTs) for the specific purpose of holding company shares in perpetuity. The authors argue that such trusts should be allowed for two reasons. First, NCPTs in general should not be regarded as repugnant to the trust concept. Secondly, the practical advantages of allowing non-charitable trusts in a limited fashion outweigh the disadvantages. The article concludes by proposing possible reforms to the Singapore trust legislation.