Chapter 2
Why a new Trusts Act?


2.1This chapter looks at why a new Trusts Act is necessary. It first argues that trust law is central to the legal infrastructure of this country. Then, by way of background, we present a summary of the different types of trust that are in use, which illustrates how widely and diversely they are used. We then present the principles behind the review and the case for a new Trusts Act, before considering the approaches taken in other jurisdictions.