No shares held on trust
| Shares, like any other property, may be held in trust. This means that the legal owner (i.e. in the case of shares, the person whose name appears as the owner of the shares in the Register of Members) holds them in trust for the beneficial owner/s. This is often done in order to keep the beneficial owner's details off the Register of Members and therefore secret. (Under section 356(1) of the Companies Act 1985, every company has an obligation to keep its Register of Members open for inspection by the public, upon the payment of such fee as may be prescribed.) It is prudent for such trusts to be documented so as to protect the interests of the beneficiary.
For users of this site who have elected not to form one of the standard configuration companies, UKcorporator generates a simple form of trust deed (a sample of which you may view by clicking here) if required by the user. To save time, this option is not offered in the standard company configurations. |
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