| Commentary

22 Declaration of trust

| Commentary

22 Declaration of trust

A charity governed by a declaration of trust1 is typically designed for a long term (if not perpetual) existence, is endowed with land or investments, and is administered by a relatively small number of individual trustees or by a charitable trust corporation. There are certain exceptions for charities from the general rules applying to trusts:

  1. 22.1

        the possible number of trustees is not limited2;

  2. 22.2

        decisions of the trustees may be taken by simple majority3;

  3. 22.3

        there is no implicit power of variation, even with the approval of the founder, as there are no beneficiaries to

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