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Canadian Coalition for Good Governance issues draft model declaration of trust provisions

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December 12, 2007


The Canadian Coalition for Good Governance (CCGG) recently issued draft model declaration of trust provisions which include, in the view of the CCGG, the most important unit holder rights. The CCGG is seeking input from interested parties by February 15, 2008. 

The CCGG has identified that Canadian public entities structured as trusts (including income trusts and REITs) do not have uniform provisions in their constating documents (called declarations of trust or "DOTs") relating to investor rights and, in some cases, have inappropriate provisions. As a result, there is widespread inconsistency in the governance provisions of Canadian public trusts, as well as, in some cases, significant gaps in investor protection.

Fasken Martineau partner Stephen Erlichman assisted in preparing the draft model declaration of trust provisions, which can be viewed on the CCGG website.