n Professional Accountant - Trust as a juristic person : companies act

Volume 2011 Number 1
  • ISSN : 1680-7537


The new Companies Act (71 of 2008) introduced many new and revised provisions, such as financial reporting requirements. The new Companies Act, like all other legislation, relies on its definitions for interpretation and application of the Act's provisions. One of these definitions is "juristic person", which includes a trust (irrespective of whether or not it was established within or outside the Republic). The Consumer Protection Act and National Credit Act have similar definitions that recognise a trust as a juristic person. The tax laws have for many years recognised trusts as a 'person' and therefore a taxpayer. If not for these legislative recognitions, a trust would not be a juristic person as trusts are not registered and established in terms of legislative provisions similar to companies.

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