A species that is the sole extant member of its genus (e.g. (a) Basically, the inter vivos trust is an agreement and all the rules of the law of contract, therefore, find application (B9.2 infra). any of the circumstances contemplated in— pay compensation to any person adversely affected by the person’s conduct as a director, to the extent that such a victim does not otherwise have a legal basis to claim compensation; or (c) a trust, irrespective of whether or not it was established within or outside the Republic; . We use cookies to distinguish you from other users and to provide you with a better experience on our websites. (ii) subsists for seven years from the date of the order, or such longer period as determined by the court at the time of making the declaration, subject to subsections (11) and (12); Close this message to accept cookies or find out how to manage your cookie settings. The assets and liabilities of a trust vest in the trustee or trustees. . The technical and social knowledge necessary to administer this law in such roles as those of judge, legal advisor, legislator, and police officer were initially lacking in the … Check if you have access via personal or institutional login. Legal personality (See also Du Toit 2.3.3.2 and fn 82). The term ‘‘related’’, is defined as "when used in respect of two persons, means persons who are connected to one another in any manner contemplated in section 2(1)(a) to (c); Application to declare director delinquent or under probation (ii) the court is satisfied that the declaration of delinquency is justified, having regard to the nature of the contraventions, and the person’s conduct in relation to the management, business or property of any company, close corporation or juristic person at the time. The Sui Generis Hybrid Theory of Trusts 7 1. One, a ‘trust’ effect, and the other, an unusual ‘agency’ effect. If a use is sui generis (doesn’t fall within a particular use class) the use cannot be changed without planning permission. The trustee ex officio is regarded in civil procedure as different from the trustee in his private capacity (Erlich v Rand Cold Storage & Supply 1911 TPD 170, Zinn NO v Westminster Bank NO 1936 AD 89 98, and see B17 infra). national institution or one which has its headquarters abroad, shall be shared in a fair and equitable manner, between contracting parties in accordance with the relevant regulations and legislation.” Where there is concern that there might be disparity between contracting parties, which will be the situation in most cases, Brazil’s sui generis law correctly tries to provide … Ancillary uses of buildings. One, a ‘trust’ effect, and the other, an unusual ‘agency’ effect. a person directly or indirectly controls each of them, or the business of each of them, as determined in accordance with subsection (2). a foreign company; and E-mail * CAPTCHA . be limited to serving as a director of a private company, or of a company of which that person is the sole shareholder. Eastern Cape, BLOEMFONTEIN Jacques Delors, formerly France's Minister of Finance and President of the European Commission, is said to have once called the European Union “un objet politique non identifié” (Thibaud 1991:47; Marks, Scharpf, et al. Bill Bezuidenhout & (ii) regulating an industry or sector of an industry; or Where ownership and control vest with the trustees, the beneficiaries only have a right in persona against the trustees to claim the income or capital due to them under the trust. It is a sui-generis legal arrangement that finds no similarities in other EU Member States. in the case of an order of probation— within a period of five years, was a director of one or more companies or a managing member of one or more close corporations, or controlled or participated in the control of a juristic person, irrespective whether concurrently, sequentially or at unrelated times, that were convicted of an offence, or subjected to an administrative fine or similar penalty, in terms of any legislation, and— The court submitted that the mere fact that a trust happens to be of testamentary origin should not influence the evaluation of the validity of the amendment of the trust instrument. That which is the only one of its kind. in the case of a juristic person that is a trust, that first person has the ability to control the majority of the votes of the trustees or to appoint the majority of the trustees, or to appoint or change the majority of the beneficiaries of the trust; or. “In our law a trust is not a legal persona but a legal institution, sui generis. It was held in Vaal Reefs Exploration and Mining Co Ltd v Burger 1999 4 SA 1161 (SCA) and confirmed in Van der Merwe v Nedcor Bank Bpk 2003 1 SA 169 (SCA) that the proposition, that a contract that a person as a representative of another had concluded with himself was legally impermissible, was not a correct reflection of South African law. Proprietary Consequences in Equity – Retention, Vested New Interest or Power in Rem. Some of the relevant sections in the new Companies Act are as follows: “In our law a trust is not a legal persona but a legal institution, sui generis. A hostel is a form of house in multiple occupation (HMO). What … Cape Town, DURBAN its uniqueness at the time of classification merited the creation of a new genus, the sole member of which was initially the sui generis species). Although the Holy See, as distinct from the Vatican City State, does not fulfill the long-established criteria in international law of statehood; i.e. (a) Similarly can a bequest be made to an existing testamentary trust provided the trust stipulations allow the trustees of such a testamentary trust to be able to receive and accept such a bequest. a juristic person is related to another juristic person if— A sui generis entity possessing international personality. Subscribe to our newsletter. Residential institutions: C3: Residential dwellings : D1: Non-residential institutions: D2: Assembly and leisure: Sui Generis: The sui generis legal definition is buildings that do not fall within any particular use class: Please note the above list is not exhaustive and is intended as a guide. . Honoré is of the view that for the formation of a trust by means of a contract, the founder cannot set up a trust by transferring assets to himself as sole trustee, though he may do so by a transfer in trust to himself and another (Honoré 4). Hostel definition - Designing Buildings Wiki - Share your construction industry knowledge. 2 It is clear that a DMC does not take effect until death, yet it operates outside any will and indeed would be interpreted as removing property from the estate of the deceased during his or her lifetime. It is, however, possible to create a trading or business trust where the rights of beneficiaries are not vested but merely contingent, for example where the trustees have discretionary powers to decide not only how, but also whether to pay income or distribute capital to the beneficiaries (cf B4.2.2 supra and B24.5 infra). (bb) (See also Du Toit 2.3.3.2 and fn 82). (a) (i) Article 4 direction. The fact that the whole body of beneficiaries hold all the shares, and, therefore, the ownership, does not of necessity mean that the full control also vests in them. The non-vesting combined with certain suspensive conditions imposed by the court can render an even greater form of protection to beneficiaries (Honoré 96, 111, 166 and B7.1.3 infra). . Pretoria, CAPE TOWN For a trust to become a juristic person it must be so clothed by legislation. persona but a legal institution sui generis. Section 2(1):  For all purposes of this Act— [2] The term is widely used to refer to more esoteric entities in a number of disciplines, including. relating to the promotion, formation or management of a juristic person; Section 1:  In this Act, unless the context indicates otherwise— I either is a subsidiary of the other; or (a) Evans, Equity and Trusts, 3rd edition, Lexis Nexis, 2012, pp. This paper argues that human dignity is a sui generis status principle whose function lies in unifying our normative orders. First Floor (i) (b) (c) One characteristic of such schemes is the naming of the primary beneficiary as a trustee. Sui generis (/ ˌ s uː aɪ ˈ dʒ ɛ n ər ɪ s /; [1] Latin: [ˈsʊ.iː ˈɡɛnɛrɪs]) is a Latin phrase, meaning "of its (his, her, or their) own kind; in a class by itself; unique". The significance of this is that it does not impose upon the trust a general legal personality but that for purposes of the Companies Act and all corporate structures where trusts and companies are involved and where they are “related” as defined in section 1 of the Act, the implications are significant. 1996:1).1 Many scholars appear to agree, characterizing the European Union as “sui generis,”“unique,”“new,”“exceptional,”“hybrid,” and differing from (“more than,”“less than”) both federal states and international organizations––or even “a continuously c… This chapter also briefly explains Wesley Hohfeld'seight fundamental jural relations which will be applied in the analysis of the law in the following chapters. 22 Riebeek Street Institution sui generis (f ) . As was indicated supra at 5.2, the inter vivos trust is now also described as an institution sui generis in the Badenhorst case. Safmarine House (iii) . Du Toit at 2.3.3.2 draws an important distinction between the creation of an inter vivos trust and related matters such as the acceptance of benefits by the beneficiaries and the rules pertaining to the interpretation of trust deeds on the one hand and the trust itself, the office of trustee and the trustee’s fiduciary duty, on the other hand.

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