Trust Company Act
| Basic data | |
|---|---|
| Title: | Trust Company Act |
| Abbreviation: | TrUG ( PGR ) |
| Type: | law |
| Scope: | Liechtenstein |
| Legal matter: | Corporate law |
| Issued on: | April 10, 1928 |
| Entry into force on: | April 10, 1928 |
| Last change by: | LGBl. 2010 No. 352 |
| Please note the note on the applicable legal version. | |
The law on trust companies (Treuunternehmengesetz, TrUG) regulates the establishment, structure, rights and obligations of those involved, monitoring and control as well as the dissolution of a trust company (also known as business trust or trust foundation ) in mandatory and dispositive provisions.
The trust company can be established and operated for both commercial and non-commercial activities.
The conception of the Liechtenstein trust company according to the TrUG was functionally partially based on the business trust (Massachusetts Trust).
The TrUG is one of the few relatively genuine Liechtenstein laws.
history
The law on trust companies (TrUG) was enacted in 1928 and at the same time integrated into Book 3 of the Liechtenstein Civil Code, Liechtenstein Personnel and Company Law (PGR).
editorial staff
The TrUG was edited and completed by Emil Beck on behalf of the Liechtenstein government.
Motifs
With the TrUG and the creation of the Personal and Company Law (PGR), the Liechtenstein legislature endeavored to use liberal company law to attract foreign investors in particular , who were supposed to bring work and prosperity in Liechtenstein by setting up companies.
Structure of the TrUG in Art 932a PGR
Sections 1 to 6 in general (A.)
§§ 7 to 16 formation (B.)
§§ 17 to 21 termination (C.)
Sections 22 to 24 trust fund (D.)
Sections 25 to 34 trust assets (E.)
§§ 35 Avoidance and right of redemption (F.)
Sections 36 to 38 Liability for the obligations of the trust company (G.)
Sections 39 to 140 participants (H.)
§§ 141 to 153 responsibility (J.)
Sections 154 to 164 Official fiduciary surveillance and auditing (K.)
Sections 165 to 169 change of the fiduciary order, conversion and merger etc. (L.)
Section 170 International law and trust companies under foreign law, etc. (M.)
Web links
Sources and References
- ↑ Law on Trust Companies of April 10, 1928, LGBl. 1928 No. 6. Incorporated into Art 932a, Sections 1 to 170 PGR.
- ↑ The concept of the FL-ZGB from the 1920s should consist of five separate parts: property law (SR), law of obligations (OR), personal and company law (PGR), family law (FamR) and inheritance law (ErbR). "The project of a Liechtenstein civil code has not yet been completed after property law, personal and company law in the 20s and marriage law in the 90s of the last century were significantly changed and newly enacted in separate statutes." ( Antonius Opilio , Working Commentary on Liechtenstein Property Law. Volume I. Edition Europe, 2009, ISBN 978-3-901924-23-1 , p 39).
- ↑ Person and company law (PGR), law of January 20, 1926, LGBl No. 4 of February 19, 1926.
- ↑ 1888-1973, assistant to Eugen Huber , secretary of the Committee of Experts on the revision of the second part of the Swiss Code of Obligations, president of the Liechtenstein Supreme Court (1922-1930), Constitutional Court President (1925 to 1930).
- ↑ See the protocol of the Landtag of November 4, 1925, 4 ff and 15.Short report on personal and company law, 1928, 6 ff, 10.
- ↑ For the purpose, see also Art 3 Ordinance of 19 December 2000 on Personal and Company Law (PGR-V), LGBl. 281/2000.
- ↑ For information on the entry, see also Art 101 f Ordinance of February 11, 2003 on the Commercial Register (HRV), LGBl. 66/2003.
- ↑ To terminate see also Art 114 to 119 ÖRegV.
- ↑ For the auditor, see also Art 4 PGR-V.
