Almost as soon as the Charities Act 2006 set up the Charity Tribunal it seems that the new entity has been swept away by the wider reformation of tribunals in England and Wales under the aegis of the Tribunals, Courts and Enforcement Act 2007.

The final sections of the Companies Act 2006 will came into force today, 1 October 2009. This briefing summarises the main provisions which are likely to affect charities.

The Companies Act 2006 has come into effect in tranches, spanning nearly three years since it received Royal Assent in November 2006. The final implementation date is 1st October 2009.

This edition includes: Pre-Election Activity / Reporting Serious Incidents In Charities / Improved Boardroom Behaviours / Is Your Organisation a Public Authority? / The Equality Bill / Community Interest Company Reform / Charity Pensions - Countdown To 2012 / Charities & Trade Marks / Assignee Default / Constitutional Conundrums For RSLS / Legacy Update and many more.

In One.Tel Limited (In Liquidation) v Watson [2009] NSWCA 282, the New South Wales Court of Appeal held that a registered trustee under a deed of arrangement was entitled to maintain a claim for indemnity against a debtor's insurer despite the fact that the deed of arrangement had terminated.

Perhaps it is a combination of litigious times and inflated property prices but claims against professionals by disappointed beneficiaries are increasing.

A recent decision of the Guernsey Court of Appeal brings into focus the role of HM Revenue & Customs ("HMRC") in trust proceedings before the courts of offshore financial centres and the two century old rule that foreign revenue authorities cannot seek to enforce their revenue laws outside their own borders.

Five Recent Cases Reveal Continuing Uncertainties in the Treatment of Transfers of FLP and LLC Interests for Estate and Gift Tax Valuation Purposes.

After several attempts over the past five years, Canada is finally getting new legislation to govern federal non-profit corporations. Bill C-4, An Act respecting not-for-profit corporations and certain other corporations (Act) has been set up to close many of the legislative gaps which exist under the current Canada Corporations Act (CCA). It is important to note that these changes will only affect non-profit corporations that are incorporated under (and governed by) federal law.

As a consequence of the downturn in the economy, pension schemes have seen deficits increase. Trustees have become increasingly concerned at their potential exposure should the sponsoring employer fail, leaving them at the doors of the Pension Protection Fund with a substantial shortfall. This article gives a brief overview of the nature and scope of trustee liability, and the extent of the protections which might be available, particularly by setting up a trustee company.

A look at topical issues and try to answer members' frequently asked questions.

One of the more common reasons for litigation over an estate is when a new will is written or an existing will is changed late in life and the persons disadvantaged by the change allege that the testator (the person who made the will) was not mentally competent at the time of the change.

As a matter of English and Cayman law, does the court have jurisdiction to appoint a receiver, at the behest of a judgement creditor, by way of equitable execution over a settlor's power of revocation of a trust?

The Madoff scandal continues to provide very useful governance lessons for nonprofit groups.

Contents: Diversifying Cash / Charity Trustees Under Threat from the Credit Crunch / Reducing Overheads.

Earlier this year [2009] the Scottish Law Commission published its proposals to reform the Scots Law of Succession. Given that the current law is found largely in an Act from 1964, which in turn is partly based on a report from the 1950s, and considering the huge social changes that have occurred in the last 50 years, it could be said that reform is well overdue. The reforms recommended by the SLC are far reaching but three areas are worthy of particular comment: Rules of intestate succession (i.e. where someone dies without a Will); Cohabitation; and Legal Rights.

Contents: Strategy, Students and Governance / Finance, Technology and IP / Estates / Human Resources.

W  hile it is commonplace to see the recitation almost by rote of a settlor's understanding that their letter of wishes is no more than that and amounts only to guidance as to how they would prefer a trustee to exercise its discretionary powers, a settlor can, if they are so inclined, use a letter of wishes as the vehicle for the communication of useful, if highly sensitive and occasionally contentious, material about the beneficiary (and nonbeneficiary) members of his family, their history and needs.

Were Vince Cable's concerns that the NHS may be "going against" the push towards greater partnership with local government warranted? We take a look at the key legislation in the cooperation of the NHS and local authorities and what this means in respect of the services they provide.

Unlike some countries, the UK allows a will to be varied if the beneficiaries under it all agree. A variation of a will is often an effective way to save Inheritance Tax or to provide a fairer division of assets.

In this newsletter: Bermuda Abolishes Perpetuity Period for Trusts by Henry Moss / Bermuda Ascends to OECD White List by Karen Corless.

This issue has articles on: Bankruptcy and Trusts: What to do about bankrupt settlors and trustees / Transfer of Assets to a Trust: A limitation on protection from creditors, the Lightbody case appeal / How is a Trust's Income Taxed? Tax on trustee and beneficiary income.

You will no doubt have read coverage of the Charity Commission's public benefits reports, published in July 2009; you may also have seen our first thoughts, sent out at the same time. The purpose of this paper is to consider the charity law implications of those reports in greater depth and to help you get a feel for the way the Charity Commission is applying the principles set out in its public benefit guidance.

Contents: Public Benefit Assessments - Good news for religious charities / How were the charities selected for assessment? / How was the assessment conducted? / What do the reports include? / Emerging findings.

Tax issues for a charity on the disposal of its land can be complex. It must consider a range of fiscal issues, and careful planning is vital if it is to maximise its net gain. This article advises on the options and pitfalls.

A recent survey by Which? found that 56% of people don't have a will, suggesting that most of us either have plans for? Immortality or just haven't got around to it. So it's galling to find that when people finally do get round to writing a will, they risk getting scammed.

Trading stock could be livestock on a farm, goods on the shelves of a shop, or a share portfolio solely owned by the deceased person where it is deliberately maintained as trading stock (as opposed to capital assets). Unfortunately, the implications of a gift of trading stock are usually not fully explored in the succession planning process, which can lead to difficulties during the administration of a deceased estate.

(Order of the President No. 50) adopted at the 21st Meeting of the Standing Committee of the Ninth National People's Congress of the People's Republic of China on April 28, 2001

A monthly report for wealth management professionals.

The Charity Commission has recently published specific guidance for trustees of NHS charities on the management of their charitable funds, with a view to maintaining their independence. The guidance applies to all trustees of such funds, whether they are NHS Foundation Trusts and NHS Trusts acting as corporate trustees or individual bodies of trustees, but is of particular relevance to corporate trustees.

What is "foreseeable" when including trust assets in ancillary relief proceedings? This article looks at the recent judgment in C v C.

Family partnerships are a hot topic at the moment. This is not surprising considering that the funding of a trust will now (except in limited circumstances and, unless the value of the assets settled in trust is within the settlor's inheritance tax nil rate band) result in an upfront inheritance tax charge, with periodic inheritance tax charges becoming payable on every ten year anniversary of the trust and when capital is distributed from the trust.

Probate is the general term used for the legal process of administering the estate of somebody who has died. What does it mean in practice?

In this edition: TEAM NEWS: Conferences/Seminars; Community Mediation service launched / CASE ROUND UP: Security for costs - new ruling on security for costs - being sued by a foreign plaintiff is no longer enough ; Disclosure and cross examination of witnesses - can cross examination of a witness be delayed whilst full disclosure is given; Rectification of Wills - only a will signed by a testator can be admitted to probate; Retiring trustee duty v saise judicaire - 'impossible situation' tips the balance of favour of discharging saise judiciare / RECENT ARTICLES: Flexible Friends? recent cases in Jersey have highlighted the need for perspective and pragmatism; If you want something doing, better not do it yourself - the perils of DIY!

A charity registered with the Irish Revenue is generally entitled to exemption from various taxes (usually Income Tax / Corporation Tax, Capital Gains Tax, Stamp Duty, Gift / Inheritance Tax and Discretionary Trust Tax).

An up-to-date Will is the cornerstone of estate planning for most people. However, cases referred to in this newsletter show that things you do in your lifetime, with the very best of motives, could have unintended consequences after your death. It will often pay to take advice, particularly where significant sums are at stake. One case shows that putting a Halifax account into joint names created no end of problems for those involved in winding up the deceased's estate.

ASIC recently granted class order relief to superannuation fund trustees and their authorised representatives from the requirement to comply with section 945A of the Corporations Act when providing personal financial product advice to members about their interest in a superannuation fund. The aim of the relief is to improve member access to low-cost simple advice about their superannuation investment.

Creditors' trusts are becoming more common in their use as companies seek to quickly distance themselves from the voluntary administration process and continue on with their corporate lives. This is often for legitimate reasons, the most common being for publicly listed companies seeking to minimise the impact of voluntary administration on their listed status.

A trust comes into effect when a 'settlor' places money, land or other assets in the hands of trustees. The trustees are the legal owners of the property but are obliged to hold and manage the property for the benefit of a person or a group of people, who are called beneficiaries. There are several types of trust.

Income trusts have played a relatively unique role in Canadian capital markets over the last few years and, with the recent changes to their tax treatment and the newly proposed "conversion" rules, they promise to do so for at least another few years. This guide sets out a brief discussion of the issues for income trusts, including a review of the newly proposed conversion rules and a discussion of some of the important issues that will need to be considered by income trusts in determining whether, and if so when, to convert to corporate form.

With the publication of the consultation on CIL on 30 July, we had our first glimpse of how the Government plans CIL to work. The provisions for charity investment property have some issues and there are no express transitional provisions exempting permissions granted before the regulations take effect, which the Government intends to be on 6 April 2010. Government is strongly encouraging authorities to adopt CIL. Responses to the consultation must be submitted by 23 October.

The government has announced that as from September 2009 interest payable on overdue inheritance tax will rise to 3%. Since March the rate of interest has been 0% following the fall in interest rates.

Have you ever considered establishing your own family trust, but didn't know where to start, or if it was even necessary? The formation of family trusts is a practice that is becoming increasingly common for family units, individuals and entrepreneurs alike. Gone are the days when family trusts only existed in the upper classes. Today, trusts are seen as working tools which can help protect your personal property from third party claimants.

When a person dies, family members often believe that they are entitlted to inherit a share of the estate. However, in most cases there is nothing to stop people from leaving their assets to whomever they wish.

Following the sudden death of Michael Jackson and the concerns regarding his finances and who will care for his children, people may be questioning their own circumstances. Thinking ahead and planning for the financial security of your loved ones and deciding who should look after them and carry out your wishes should be a priority for any parent.

The staff at Walkers have made another contribution to an important local charity, with the National Council of Voluntary Organisations (NCVO), the latest to benefit from the firm's Dress Down Programme.

Since April 2006, trustees of occupational pension schemes have had a statutory duty to ensure that they have an adequate knowledge and understanding of the legal issues relevant to their scheme.

Does a beneficiary of a trust have a claim against an agent or delegate appointed by the trustee of a trust? In May 1996 Mr Chvetsov (the "Claimant") established a Jersey discretionary trust (the "Trust") of which he was also a named beneficiary. The Trust Fund included a property situated in North London (the "Property") which was occupied by the Claimant and his family.

The purpose behind this Update is to inform trustees about changes in the law to help them to comply with the legal requirement for each trustee (or trustee director) to have knowledge and understanding of the law relating to pensions and trusts. This Update focuses on the key legal developments over the last quarter that trustees may need to be aware of.