The Trust (Amendment) Bill was passed in Parliament yesterday.
Under the amendments, registration with the Registrar General will become mandatory for all trusts and foundations, whether registered or unregistered. The new laws also empower the Attorney General and the Auditor General to monitor the relevant trusts at any time.
More than 500 trusts and foundations were established by Acts of Parliament during the 7th, 8th and 9th parliamentary terms. However, no formal investigation has been carried out to date into whether the objectives for which they were set up have been met.
