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It is not unusual for a settlor to impose confidentiality conditions upon trustees by the terms of the trust. However, there are limits to the extent to which information may be withheld from beneficiaries. Ultimately all such conditions are subject to review by the Court under its supervisory jurisdiction to ensure the proper administration of trusts. In the matter of an Application for Information about a Trust  CA (Bda) 8 Civ, the Bermuda Court of Appeal held that a restrictive veto power to withhold information could only be supported if it was consistent with the proper administration of the trust. Disclosure of financial information to a beneficiary was ordered as it was considered necessary to ensure that the trustees were held accountable to their beneficiaries.
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Bermuda Court of Appeal Upholds Decision of Supreme Court to Order Disclosure