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CPD Course:
The Rights of
Under a Trust
and the Variation of
Terms of a Trust

Presented by
Prof. Steven Gallagher,
Associate Professor of Practice in Law,
Associate Dean (Teaching & Learning),
The Faculty of Law,
The Chinese University of Hong Kong

The Rights of Beneficiaries Under a Trust and the Variation of Terms of a Trust
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Code: EVT000000239 Level: Intermediate
Date: 6 July 2018 (Friday) Language: English
Time: 09:30 - 12:45
(Reception starts at 09:00)
Accreditation(s): LSHK 3.0 CPD Points
Venue: Request for Rerun:
Please Contact Us for Details
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Presenter's Profile:
Prof. Steven Gallagher

Steven Gallagher was awarded a first class LL.B.  He was called to the Bar of England and Wales in 2006.  Steven teaches equity and trusts, property law, and a course on art, antiquities, cultural heritage and the law.  In September 2023, Steven began teaching a new course on digital technology and law.  Steven has presented over 200 continuing professional development courses for solicitors in Hong Kong on many topics associated with property.  Steven’s research interests include equity and the law of trusts, cultural heritage law, Chinese custom and law, and legal history.  In 2023, Steven published a textbook on Digital Technology and Law.  He is not a technologist.

Course Outline:

This 3-hour seminar will provide an introduction to the rules concerning variations of trust terms.  Unless the settlor has retained a power to vary the trust terms for himself or given such power to others, the general principle is that the terms of a trust must be followed and cannot be varied.  The courts have generally been reluctant to interfere with the terms of a trust as long as its purpose is not illegal or against public policy.  There have been doubts that the courts actually have power to interfere with the terms of a trust.  However, the development of special trusts in tax haven jurisdictions which expressly permit the settlor to retain powers of variation or give such powers to others has led to judicial consideration of the nature of variation and the limits of the powers of variation that may be retained or given to others.  The seminar will consider the traditional approach to variation of trusts and more recent developments and issues in Hong Kong and the United Kingdom.

Some of the topics considered in this seminar will be:

  • The obligation to follow the terms of the trust;
  • Beneficiaries’ interests in the trust;
  • The rule in Saunders v Vautier;
  • The Court’s inherent jurisdiction to vary the terms of a trust;
  • The statutory powers of variation;
  • The settlors retention of powers of variation and the donation of such powers to others;
  • What is a variation of the terms of a trust?

This course is provided by:  Kornerstone Limited
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