Non-statutory Trust

Russian translation: траст, не регулируемый специальным законом

17:47 Mar 4, 2017
English to Russian translations [PRO]
Bus/Financial - Insurance / insurance and reinsurance
English term or phrase: Non-statutory Trust
All insurance and reinsurance monies handled by [the insurance/reinsurance broker] on behalf of its clients and the Reinsurance Company will be commingled in [the insurance/reinsurance broker]'s client bank accounts set up under a Non-statutory Trust in accordance with CASS 5.4.
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CASS 5.4 Non-statutory client money trust
(1) CASS 5.4 permits a firm, which has adequate resources, systems and controls, to declare a trust on terms which expressly authorise it, in its capacity as trustee, to make advances of credit to the firm's clients. The client money trust required by CASS 5.4 extends to such debt obligations which will arise if the firm, as trustee, makes credit advances, to enable a client's premium obligations to be met before the premium is remitted to the firm and similarly if it allows claims and premium refunds to be paid to the client before receiving remittance of those monies from the insurance undertaking.
(2) CASS 5.4 does not permit a firm to make advances of credit to itself out of the client money trust. Accordingly, CASS 5.4 does not permit a firm to withdraw commission from the client money trust before it has received the premium from the client in relation to the non-investment insurance contract which generated the commission.
tagarelo
Ukraine
Local time: 07:08
Russian translation:траст, не регулируемый специальным законом
Explanation:
Вот здесь хорошо разъясняется:
http://www.originalintent.org/edu/trusts.php
Selected response from:

Vanda Nissen
Australia
Local time: 15:08
Grading comment
4 KudoZ points were awarded for this answer



Summary of answers provided
3 +2траст, не регулируемый специальным законом
Vanda Nissen
3 +1траст общего права
Dr.-Ing. Igor Krasontovitch


Discussion entries: 1





  

Answers


2 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +2
non-statutory trust
траст, не регулируемый специальным законом


Explanation:
Вот здесь хорошо разъясняется:
http://www.originalintent.org/edu/trusts.php

Vanda Nissen
Australia
Local time: 15:08
Native speaker of: Native in RussianRussian
PRO pts in category: 24

Peer comments on this answer (and responses from the answerer)
agree  Dr.-Ing. Igor Krasontovitch: Коллега, интересно что мы приводим одинаковый линк. В Австралии сейчас наверное солнце и тепло, а в Германии дождь
14 mins
  -> Спасибо, Игорь! Да, тепло и солнечно - приезжайте к нам на конгресс, у нас всегда тепло!

agree  Oleg Nenashev: траст, не регулируемый нормативно-правовыми актами
1 day 4 hrs
  -> Спасибо, Олег! Да, согласна с Вашим дополнением.
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3 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +1
non-statutory trust
траст общего права


Explanation:
см. ссылки, ответ с оговоркой, что это не моя область специализации

The first and most fundamental issue that one needs to understand is the distinction between a statutory trust and a non-statutory trust. A non-statutory trust is generally referred to as a common law trust. [See The Law within this site for information on the common law.]

Траст общего права и конструкция расщепленной собственности (заголовок подробной статьи из второго линка) там все очень детально описано.


    Reference: http://www.originalintent.org/edu/trusts.php
    Reference: http://rosbuh.ru/?page=article&item=1742
Dr.-Ing. Igor Krasontovitch
Local time: 06:08
Native speaker of: Native in RussianRussian, Native in UkrainianUkrainian

Peer comments on this answer (and responses from the answerer)
agree  Vanda Nissen
23 mins
  -> Спасибо, Ванда! Любопытно, а какой еонгресс?
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