Trustees Act (Chapter 337): Primary legislation governing trustee duties, powers, and responsibilities. Includes requirements for trust administration, management, and trustee meetings/decision-making procedures.
Trust Companies Act (Chapter 336): Regulates licensed trust companies, sets requirements for professional trustees, and establishes corporate governance requirements for trust entities.
Companies Act (Chapter 50): Relevant when trust involves corporate trustees or corporate structures, providing framework for corporate governance and compliance.
Income Tax Act (Chapter 134): Covers tax implications of trust decisions and relevant reporting requirements for trust entities.
MAS Guidelines: Regulatory guidelines from Monetary Authority of Singapore covering licensed trust companies, corporate governance, and documentation requirements.
Attendance and Quorum Requirements: Compliance requirement for proper recording of meeting attendance and ensuring quorum is met for valid decision-making.
Decision Documentation: Requirement to properly record all decisions made during trust meetings, including voting procedures and outcomes.
Conflict of Interest Declarations: Mandatory documentation of any declared conflicts of interest by trustees or relevant parties.
Document Execution Requirements: Requirements for proper signing, dating, and maintaining records of trust meeting minutes, including retention periods and distribution protocols.
Confidentiality Obligations: Requirements regarding the confidential handling and storage of trust meeting minutes and related documentation.
