Beneficiaries of trusts have limited rights when they are not shareholders of the trustee company. The law in Victoria grants such shareholders more rights and it may well be that the Victoria parliament will enact legislation extending those rights even further. In NSW, the rights of beneficiaries of trusts are more limited. However the NSW Law Reform Commission is examining this area of the law and is calling for submissions. A link to the section of the website of the NSW Law Reform Commission which deals with this area of potential reform is at:
http://www.lawreform.justice.nsw.gov.au/Pages/lrc/lrc_current_projects/Beneficiaries/Beneficiaries.aspx
By Steve McAuley, McAuley Hawach Lawyers
Principal Solicitor
Accredited Specialist – Family Law
Telephone: (02) 9633 1826
Email: reception@mcauleyhawach.com.au
Website: www.mcauleyhawach.com.au
Parramatta Office: Level 7 | 9 George Street | Parramatta NSW 2150 | Australia
PO Box 873 | Parramatta NSW 2124 | Australia
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