The Legal Nature of the Unit Trust
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By: Kam Fan Sin
This book is the first to provide a detailed and thorough doctrinal analysis of the unit trust. The author examines the history of the unit trust as the outcome of the conceptual marriage of the trust and the company. He then examines the contractual and the trust aspects of its constitution and assesses their implications on doctrines of perpetuities, Saunders v. Vautier and frustration, and also on remedies. The character of relationships, the obligations of the trustee and the manager, and the nature of units as personal properties are then analysed. Such analysis is not just of academic interest: it is of much practical relevance too. The book will be invaluable to all those requiring a better understanding of the unit trust.
AI Overview
"The Legal Nature of the Unit Trust" by Kam Fan Sin is a comprehensive legal treatise that explores the fundamental nature and legal framework of unit trusts. Here is a detailed overview of the book:
Key Themes
- Legal Framework: The book delves into the legal structure of unit trusts, examining their classification, formation, and operation within the context of financial law.
- Jurisdictional Analysis: It provides a comparative analysis of the legal nature of unit trusts across different jurisdictions, including the United Kingdom and other common law countries.
- Regulatory Aspects: The author discusses the regulatory environment surrounding unit trusts, including the role of regulatory bodies and the impact of legislation on their operation.
- Investment Vehicles: The book explores how unit trusts function as investment vehicles, including their role in portfolio diversification and risk management.
Plot Summary
The book is structured to provide a thorough understanding of the legal nature of unit trusts. It begins with an introduction to the concept of unit trusts and their historical development. The main body of the book is divided into several chapters that cover various aspects of unit trust law, such as:
- Formation and Classification: The initial chapters discuss how unit trusts are formed and classified under different legal systems.
- Trust Law Principles: The author applies trust law principles to unit trusts, examining issues related to fiduciary duties, trustee responsibilities, and beneficiary rights.
- Regulatory Framework: Chapters focus on the regulatory environment, including the role of financial services authorities and the impact of financial regulations on unit trusts.
- Investment and Risk Management: The book also explores how unit trusts are used as investment vehicles and the strategies employed to manage risks associated with these investments.
Critical Reception
While specific reviews are not provided in the search results, the book's reputation can be inferred from its academic publication and the author's expertise. Kam Fan Sin is a recognized authority in the field of financial law, and the book is likely to be well-regarded for its comprehensive and authoritative treatment of the subject matter.
Publication Details
- Title: The Legal Nature of the Unit Trust
- Author: Kam Fan Sin
- Publisher: Clarendon Press (Oxford) and Oxford University Press (New York)
- Publication Year: 1997
- ISBN: 0198764685
- Pages: lv, 343 pages
The book includes bibliographical references and an index, making it a valuable resource for scholars and practitioners in the field of financial law.