The Trust (Amendment No. 3) (Jersey) Law, 1996, which was adopted by the States of Jersey on November 21 1995 and sanctioned by Her Majesty in Council on April 24 1996, was registered in the Royal Court and came into force on May 24 1996.
This piece of legislation amends the Trusts (Jersey) Law, 1984, by making it possible to create a valid Jersey trust for non-charitable purposes in relation to which there is no beneficiary.
Such a trust must have an enforcer, who cannot be one of the trustees, whose duty it is to enforce the trust in relation to its non-charitable purposes.
The introduction of the non-charitable purpose trust allows for greater flexibility in the planning of transactions and, in particular, offers an alternative to the charitable trust in the establishment of offshore financial structures where the primary objective is not to benefit charity.
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