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5 - Contractual Regulation

Published online by Cambridge University Press:  24 August 2023

Hui Jing
Affiliation:
The University of Hong Kong
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Summary

This chapter explores the use of contractual tools by trust parties. Trust parties have perceived three types of risk in the creation and ongoing management of charitable trusts: the vagueness of the law, public scrutiny, and regulatory scrutiny. These risks motivate trust parties to use contract clauses to re-adjust the legislative framework of charitable trusts, and two levels of relationship are accordingly regulated in this practice. The chapter first analyses the horizontal relationship between settlors and trustees. Based on a review of the charitable trust contracts collected, insights are offered into the common contractual arrangements and how trust parties use these arrangements to reallocate their powers and duties. The chapter then examines the hierarchical relationship between regulators and trust parties. It is found that regulators are disposed to guide the use of contract tools between trust parties. This approach entitles regulators to tightly control the use of charitable trusts so as to advance the state’s public welfare goals to the largest extent.

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Publisher: Cambridge University Press
Print publication year: 2023

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  • Contractual Regulation
  • Hui Jing, The University of Hong Kong
  • Book: The Governance of Chinese Charitable Trusts
  • Online publication: 24 August 2023
  • Chapter DOI: https://doi.org/10.1017/9781009327954.005
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  • Contractual Regulation
  • Hui Jing, The University of Hong Kong
  • Book: The Governance of Chinese Charitable Trusts
  • Online publication: 24 August 2023
  • Chapter DOI: https://doi.org/10.1017/9781009327954.005
Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

  • Contractual Regulation
  • Hui Jing, The University of Hong Kong
  • Book: The Governance of Chinese Charitable Trusts
  • Online publication: 24 August 2023
  • Chapter DOI: https://doi.org/10.1017/9781009327954.005
Available formats
×