Extracts from the Trusts Act 2019
Clauses 51 to 53
51. Presumption that trustee must notify basic trust information
(1) There is a presumption that a trustee must make available to every beneficiary or representative of a beneficiary the basic trust information set out in subsection (3).
(a) before giving the information, the trustee must consider the factors set out in section 53; and
(b) if the trustee reasonably considers (after taking into account those factors) that the information should not be made available to every beneficiary,-
(i) the presumption does not apply; and
(ii) the trustee may decide to withhold some or all of the basic trust information from 1 or more particular beneficiaries or classes of beneficiaries.
(3) The basic trust information is-
(a)the fact that a person is a beneficiary of the trust; and
(b)the name and contact details of the trustee; and
(c)the occurrence of, and details of, each appointment, removal, and retirement of a trustee as it occurs; and
(d)the right of the beneficiary to request a copy of the terms of the trust or trust information.
(4) A trustee is required to consider at reasonable intervals whether the trustee should be making the basic trust information available under this section.
52. Presumption that trustee must give information on request
(1) There is a presumption that a trustee must within a reasonable period of time give a beneficiary or the representative of a beneficiary the trust information that person has requested.
(a)before giving the information, the trustee must consider the factors set out in section 53; and
(b)if the trustee reasonably considers (after taking into account those factors) that the information should not be given to the person,-
(i)the presumption does not apply; and
(ii)the trustee may decide to refuse the request for trust information.
53. Procedure for deciding whether presumption applies The factors that the trustee must consider (for the purposes of sections 51(2)(a) and 52(2)(a)) are the following:
(a) the nature of the interests in the trust held by the beneficiary and the other beneficiaries of the trust, including the degree and extent of the beneficiary's interest in the trust and the likelihood of the beneficiary receiving trust property in the future:
(b) whether the information is subject to personal or commercial confidentiality:
(c) the expectations and intentions of the settlor at the time of the creation of the trust (if known) as to whether the beneficiaries as a whole and the beneficiary in particular would be given information:
(d) the age and circumstances of the beneficiary:
(e) the age and circumstances of the other beneficiaries of the trust:
(f) the effect on the beneficiary of giving the information:
(g) the effect on the trustees, other beneficiaries of the trust, and third parties of giving the information:
(h) in the case of a family trust, the effect of giving the information on-
(i) relationships within the family:
(ii) the relationship between the trustees and some or all of the beneficiaries to the detriment of the beneficiaries as a whole:
in a trust that has a large number of beneficiaries or unascertainable beneficiaries, the practicality of giving information to all beneficiaries or all members of a class of beneficiaries:
(j) the practicality of imposing restrictions and other safeguards on the use of the information (for example, by way of an undertaking, or restricting who may inspect the documents):
(k) the practicality of giving some or all of the information to the beneficiary in redacted form:
(l) if a beneficiary has requested information, the nature and context of the request:
(m) any other factor that the trustee reasonably considers is relevant to determining whether the presumption applies.