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Statements of Principles & Code of Practice

In accordance with sections 6 and 7 of the Act, the Authority has published a Statement of Principles and Code of Practice.

The Statement of Principles are relevant to the Authority’s decisions on whether to licence an undertaking (company, partnership or individual).

  • The Statement of Principles provides guidance on the Authority’s approach:
  • in interpreting the minimum licensing criteria as defined in the First Schedule of the Act, and the grounds for revocation;​  
  • in exercising its power to grant, revoke or restrict a licence, to intervene in emergency situations; and
  •   in exercising its powers to obtain information, reports and to require production of documents.

The Code of Practice provides guidance as to the duties, requirements, procedures, standards and sound principles to be observed by persons carrying on trust business.  The Code of Practice should be read in conjunction with the Statement of Principles issued under section 6 of the Act.

Copies of the Statement of Principles and Code of Practice, as well as additional forms relating to the Trust framework can be found in Document Centre under Policy & Guidance/Trust.