Regulatory AlertsVirgin Islands Special Trusts Act (Revised 2020)
Issued by the Government of The Virgin Islands, this revised legislation establishes a specialized legal framework for trusts holding shares in local companies. It mandates that designated trustees retain these shares indefinitely and shields them from liability for business risks or declines in share value, while restricting their power to intervene in company management. The Act further permits trust instruments to dictate director appointments and removals, allows interested persons to trigger trustee intervention for valid complaints, and grants the High Court authority to order share disposals or modify traditional trust rules.
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