Trust Property Control Act definition

Trust Property Control Act means the Trust Property Control Act, 57 of 1988;

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Trust Property Control Act means the Trust Property Control Act, No. 57 of 1988; and

Trust Property Control Act means the Trust Property Control Act, 57 of 1988;1.3.97. "Trustees" means the First Trustee/s and, thereafter, the Sasol Appointed Trustees and Elected Trustees from time to time of the Trust, where appropriate being read as a reference to them acting in their capacities nomine officio;1.3.98. "Unallocated Entitlement Assets" means those SSA Khanyisa Shares and other Entitlement Assets in respect of which at the relevant time, no Vested Rights have vested in any Khanyisa Tier 2 Participants, including those in respect of which there had previously been Vested Rights, which had been forfeited, but subject to clause 19.4.5;1.3.99. "Vested Right/s" means vested rights in respect of any Beneficiary initially to a determined number of the Shares and to any associated Entitlement Asset and any Normal Distribution and/or Extraordinary Distribution in respect thereof from a trust law perspective, pursuant to this Trust Deed;1.3.100. "Vesting Notice" means a notice given by any Employer Company Board to the Trustees in terms of clauses 6.1 or 15.1.1, as the case may be; and1.3.101. "VWAP" means the volume weighted average traded price of a SOL Share or a SOLBE1 Share, as applicable, being the total value of the SOL Shares or

Examples of Trust Property Control Act in a sentence

• The Trustees shall be exempt from any obligation to furnish security in connection with their appointment or for the due administration of the Trust to the Master or any other person, body or authority, as provided for in the Trust Property Control Act or any other law relating to Trusts and the protection of trust moneys, and the Master and any such other person, body or authority are hereby directed to dispense with such security.

• Please note it is not possible for a property to be purchased by a trust which has not yet been registered, as any contract entered into by a trustee who has not been formally appointed by the Master of the High Court is void in terms of the Trust Property Control Act and cannot subsequently be ratified".

• Those contemplating the registration of a trust and purchasing immovable property or other assets into a trust need to have the appetite for the trust and for taking responsibility to conduct the trust properly and in accordance with the Trust Property Control Act, the trust deed and various decided case law etc.

• Insofar as it may be necessary, the said state or other official is hereby directed to dispense with the requirement that any Trustee or subsequent Trustees shall furnish security in terms of the Trust Property Control Act or any other law.

• The Trustees, including the Initial Trustees, shall not be required to furnish security for the due performance of any duty under the Trust Property Control Act or under any other statutory provision of South Africa or elsewhere or in respect of their administration of the Trust hereby created, either individually or collectively, to the Master or to any other government official, and the need for furnishing any such security under any law for the time being in force is hereby dispensed with.

• This agreement is not in contrast with any sections of the Companies Act, 40 of 2010, Close Corporation Act, 69 of 1984 or the Trust Property Control Act, 57 of 1988.

• Trusts are regulated by the common law and the Trust Property Control Act 57 of 1988*.

• The affairs of the Trust shall be managed in a way that complies with the requirements of the Trust Property Control Act No. 57 of 1988 and of the Commissioner for the granting of a tax exempt status as set out below: on ceasing of “THE CITY CELEBRATIONS CHARITABLE TRUST” the remaining capital and interest must be distributed to a Non profit organization ,of a similar nature acceptable to SARS as set out in Clause 19.

• None of the Trustees from time to time holding office shall be required to furnish either individually or collectively to the Master of the High Court or to any other Government official, security for the administration of the Trust hereby created, and the need for furnishing any such security is hereby dispensed with whether otherwise required under the Trust Property Control Act 1988 or any other law for the time being in force.

• The Trust Property Control Act (the Act) was promulgated on 31 March 1989.

More Definitions of Trust Property Control Act

Trust Property Control Act means the Trust Property ▇▇▇▇▇▇▇ ▇▇▇, ▇▇▇▇;

Trust Property Control Act means the Trust Property Control Act, No 57 of 1988, as amended;

Trust Property Control Act means the Trust Property Control Act 57 of 1998, as amended; “Verification Agency” means a BEE Verification Agency duly accredited in terms of this Statement;