Articles

Summary of amendments to the Trustee Ordinance (October 2013)

With the joint effort of HKTA and STEP Hong Kong Branch over many years working with officials of the Financial Services & Treasury Bureau, the Amendment Bill to the Hong Kong Trustees’ Ordinance was finally passed by Legislative Council on 17 July 2013 with the amendments taking effect on 1 November 2013.

HKTO Amendment Bill

(a)      The long journey

Hong Kong is a major financial services and trust centre, but its primary trust law, the HKTO, has not been modified since 1934 while other comparable jurisdictions have embarked on modernizing their trust legislation over the past decade.  The HKTA and STEP saw the need to modernise our trust law and over the last 8-9 years, we have worked closely with, and provided substantive support to, the FSTB.  Today I am very happy to report that the Amendment Bill was passed by the Legislative Council, which will take effect on 1 December 2013.

Consultation paper on the Trustee Ordinance Amendment Bill

Memorandum of Advice to the Joint Committee on Trust Law Reform

Response to FSTB on Trustee Ordinance Review

Proposed Changes to Schedule 2: the Joint Committee on Trust Law Reform undertook to review and make recommendations to FSTB in regard to Schedule 2 of the Trustee Ordinance.

Response to the FSTB’s Consultation Conclusions in relation to the Trustee Ordinance Review

JCTLR Response to FSTB’s Consultation Paper dated 23 September 2009

FTSB final consultation conclusions on the trustee ordinance review

On 22 June 2009, the Financial Services and the Treasury Bureau (“FSTB”) launched a public consultation on the review of the Trustee Ordinance (“TO”) and related matters.

The Trust Law Reform Paper submitted to Government by HKTA and STEP

Proposal on Trust Law Reform