Page 50 - Nexia SAB&T Trust Guide 2022

Case Court Decision Relevance
Simplex (Pty) Ltd v Trustees had acted before Trustees have no
van der Merwe and being authorised to do so by authority to act until
Others 1996 the Master and agreements Letters of Authority had
were null and void. been issued by the
Master.
Steyn and Others NNO Transactions are not valid All trustees must act
v Blockpave (Pty) Ltd if all the trustees have not together when making
2011 agreed to them. decisions affecting the
trust.
Rees v Harris case The creditor attempted to Separation of
of 2012 attach the trust’s assets ownership from control
(which was connected of assets. Where if it
to the trustee), the Court can be demonstrated
held that in appropriate that a trustee has
circumstances, the veneer of actual control over trust
a trust can be pierced in the assets, and acquired
same way as the corporate and owns such assets
veil of a company. purely for his/her
sole benefit, then the
trust form would be
disregarded and treated
as an “alter ego”
trust, and the assets
would be considered
as belonging to the
trustee, and not the
trust.
Land and Agricultural Contracts were void because A sub-minimum of
Bank of South Africa v they were not signed by trustees cannot bind
Parker 2005 the stipulated number of a trust.
trustees.

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