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Cayman Islands—STEP reports new Bill which grants right to petition for disapplication of perpetuities rule

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Published on: 31 May 2024

Published by LNB News

LNB News 31/05/2024

Document Information

Issue Date: 31 May 2024

Published Date: 31 May 2024

Jurisdiction(s): Cayman Islands

Article summary

The Society of Trust and Estate Practitioners (STEP) has reported that the Cayman Financial Services Ministry has introduced the Perpetuities (Amendment) Bill 2024. This allows a trustee, settlor, enforcer or beneficiary to ask the Grand Court of the Cayman Islands for an order disapplying the rule against perpetuities. It also contains a provision governing changes to the governing law of a trust of unlimited duration.

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