FISA is pleased to publish a series of articles by PH Fiduciary on the proposed Regulation of Trust Bill 2026, focusing on sections 10, 15, 16, 20, and 25. This first articles focuses on section 10 and is written by Elani Volschenk, Head of Trust Office at PH Fiduciary and FPSA®, and Johnny Davis, Director in the Commercial Practice Group and Head of PH Fiduciary.
The proposed Regulation of Trusts Bill 2026 would expand the Master of the High Court’s role in trust governance. Clause 10 introduces consultation requirements when appointing trustees, provides mechanisms to fill vacancies and allows co-trustees to be appointed despite contrary trust deed provisions.
Significantly, the Master could appoint independent trustees in prescribed circumstances. These changes aim to strengthen transparency, accountability and fiduciary independence, particularly in family business trusts where trustees and beneficiaries may be the same individuals.