The Parliamentary Under-Secretary of State for Justice (Mr Jonathan Djanogly)
I am pleased to announce that having considered the response to the Ministry of Justice’s public consultation on the Trusts (Capital and Income) Bill, the Government have decided to take forward the proposed reforms, subject to minor modifications to meet concerns raised during the consultation, when parliamentary time permits.
These reforms are based on the three legislative recommendations made by the Law Commission in its 2009 report “Capital and Income in Trusts: Classification and Apportionment” (Law Com 315).
I have placed copies of the Ministry of Justice’s response document to the consultation, which is being published today, in the Libraries of both Houses.