Page 20 - Nexia SAB&T Trust Guide 2024

identification of persons or entities against whom member states of
the United Nations must take the actions specified in the resolution;
or
(g) is an unemancipated minor or is under a similar legal disability.

The Regulations provide for the Master to establish and maintain a
public register of persons disqualified from serving as trustees.

■ Foreign trustees
■ the Amendment Act provides that when a foreign trustee is appointed
as a trustee (“trustees appointed outside of South Africa”) for a South
African trust and has to administer or dispose of trust property in South
Africa, that trustee may do so, but only if specifically authorised thereto
in writing by the Master.
■ Specifying certain offences and penalties
■ the Amendment Act provides that:
(1) If any trustee fails to comply with a request by the Master in terms
of section 16 [i.e. a request to account to the Master regarding
administration and disposal of property] or to perform any duty
imposed upon the trustee by this Act, the trust instrument or by any
other law, the Master or any person having an interest in the trust
property may apply to the court for an order directing the trustee to
comply with the Master’s request or to perform the duty.
(2) A trustee who fails to comply with an obligation referred to in section
10(2) [* above], 11(1)(e) [** above] or 11A(1) [*** above]
– commits an offence, and on conviction is liable to a fine not
exceeding R10 million, or imprisonment for a period not exceeding
five years, or to both such fine and imprisonment.

18