The council originally consisted of states administering trust territories, permanent members of the Security Council that did not administer trust territories, and other members elected by the General Assembly. A trustee carries the fiduciary responsibility and liability to use the trust assets according to the provisions of the trust instrument (and often regardless of their own or the beneficiaries' wishes). In the event that a trustee incurs a liability (for example, in litigation, or for taxes, or under the terms of a lease) in excess of the trust property they hold, they may find themselves personally liable for the excess. Article 83 of the UN Charter provided that, as such, its formal status as a UN trust territory could be terminated only by the Security Council , and not by the General Assembly as with other trust territories. Chapter 7 trustees in bankruptcy are chosen by the United States Trustee from a panel, and are known as panel trustees. In this context, a "trusty" is a prisoner who is trusted not to attempt an escape, and therefore requires little or no guarding. United Nations Trusteeship Council, франц. Many corporations call their governing board a board of trustees, though in those cases they act as a board of directors. The advantages and disadvantages of the different methods is a complicated matter. Book Now! There are established as principal organs of the United Nations: a General Assembly, a Security Council, an Economic and Social Council, a Trusteeship Council, an International Court of Justice, and a Secretariat. Noun 1. [1] Although in the strictest sense of the term a trustee is the holder of property on behalf of a beneficiary,[1] the more expansive sense encompasses persons who serve, for example, on the board of trustees of an institution that operates for a charity, for the benefit of the general public, or a person in the local government. The last trust territory was Palau, which joined the United Nations in 1994, The Trusteeship Council has not met since then. As cases under Chapter 12 (for family farmers or fishermen) are filed fairly infrequently, the United States Trustee usually makes trustee appointments in such cases on an ad hoc basis. Many UK charities are also limited liability companies registered with Companies House, in this case the trustees are also directors of the company and their liability is limited. This is an audio version of the Wikipedia Article: https://en.wikipedia.org/wiki/United_Nations_Trusteeship_Council 00:00:46 1 History … Stuart Beck -- Trusteeship Council Stuart Jay Beck (Manhattan, 23 de dezembro de 1946 — 29 de fevereiro de 2016) foi … Occasionally, "trusty" is confused with "trustee".[16]. Trusteeship Council listed as TC. English-Chinese dictionary of mining (英汉矿业大词典). Related to trusteeship: Trusteeship Council Trustee An individual or corporation named by an individual, who sets aside property to be used for the benefit of another person, to manage the property as provided by the terms of the document that created the arrangement. A trust can be set up either to benefit particular persons, or for any charitable purposes (but not generally for non-charitable purposes): typical examples are a will trust for the testator's children and family, a pension trust (to confer benefits on employees and their families) and a charitable trust. Trusteeship Council, one of the principal organs of the United Nations (UN), designed to supervise the government of trust territories and to lead them to self-government or independence. The council originally consisted of states administering trust territories, permanent members of the Security Acronym Definition; TC: Total Chances (baseball statistics) TC: Technical Committee: TC: Transport Canada: TC: In the case of UK charities, a trustee is a volunteer who undertakes fiduciary responsibilities on behalf of the charity, subject to the provisions of Charity Law, a branch of trust law, and the Charities Act 1993. Compare & Save On Flights Today! Trustee (or the holding of a trusteeship) is a legal term which, in its broadest sense, is a synonym for anyone in a position of trust and so can refer to any person who holds property, authority, or a position of trust or responsibility to transfer the title of ownership to the person named as the new owner, in a trust instrument, called a beneficiary. In some states, a civil township may be administered by a trustee or a group of trustees; see Indiana Township Trustee for an example. Media in category "United Nations Trusteeship Council" The following 5 files are in this category, out of 5 total. What is The Trusteeship? The trustee may find himself liable to claimants, prospective beneficiaries, or third parties. 2013. trusteeship; trustfully; Look at other dictionaries: trusteeship meaning: 1. the position or responsibility of a trustee 2. a situation in which someone's money or property…. Trusteeship definition: the office or function of a trustee | Meaning, pronunciation, translations and examples Add a one-line explanation of what this file represents. Trusteeship Council - Volume 8 Issue 4. Until 1960, the Council consisted of 14 members: 7 administering members; 2 permanent nonadministering … Summary [] In an exception to the duties outlined above, sabbatical officers of students' unions who are also trustees of these organisations they work for do have the right to a salary (and hence profit from their being a trustee). ... trustee's report; trusteeship function Trusteeship Council - a permanent council of the United Nations that commissions a country (or countries) to undertake the administration of a territory. The United Nations Trusteeship Council (French: Le Conseil de tutelle des Nations unies) is one of the six main parts of the United Nations.Its job is to run trust territories in the best interests of their people and of the world. An account of the main changes can be found in "Charities Act 2006 A guide to the new law" by Michael King and Ann Phillips[who?]. § 541.) Small villages have a trustee instead of a mayor, who is elected to manage village business in a similar function. All of the trust territories were administered through the United Nations Trusteeship Council.The concept is distinct from a territory temporarily and directly governed by the United Nations. It provides a means by which the wealthy people would be the trustees of trusts that looked after the welfare of the people in general. The United Nations Trusteeship Council, one of the principal organs of the United Nations, was established to ensure that trust territories were administered in the best interests of their inhabitants and of international peace and security. Origem: Wikipédia, a enciclopédia livre. UN, United Nations - an organization of independent states formed in 1945 to promote international peace and security. One is the traditional way in which a corporation is a corporate trustee of a given charity. The broadest sense of the term trustee applies to someone held to a fiduciary duty similar in some respects to that of a trustee proper. Trustee (or the holding of a trusteeship) is a legal term which, in its broadest sense, is a synonym for anyone in a position of trust and so can refer to any person who holds property, authority, or a position of trust or responsibility to transfer the title of ownership to the person named as the new owner, in a trust instrument, called a beneficiary. The United Nations Trusteeship Council (French: Conseil de tutelle des Nations unies) is one of the six principal organs of the United Nations, established to help ensure that trust territories were administered in the best interests of their inhabitants and of international peace and security. Founded in 1979, The Trusteeship is a Southern California invitation-only organization that brings together preeminent women of achievement and influence from diverse fields through customized programming, providing its members with a forum for the exchange of ideas and experiences in an environment of collegiality. Dictionary, Thesaurus, Encyclopedia, Wikipedia. For other uses, see. It is Trusteeship Council. Every judicial district has a permanent Chapter 13 trustee, known as a "standing trustee." Ultimately, eleven territories were placed under trusteeship: seven in Africa and four in Oceania. The Charter provides that the Council is to be composed of three groups of members: the countries administering trust territories, permanent members of the Security Council that do not administer trust territories, and a number of other UN members elected for three-year terms by the General Assembly to ensure an equal division between administering and nonadministering countries in the Council. Trusts of Land and Appointment of Trustees Act 1996, "The New Palgrave Dictionary of Economics and the Law, Definition of "fiduciary duties" by Tamar Frankel Vol.2, p.127-128", Youyang Pty Ltd v Minter Ellison Morris Fletcher, "CC3 - The Essential Trustee: What you need to know", https://en.wikipedia.org/w/index.php?title=Trustee&oldid=948672999, All articles with specifically marked weasel-worded phrases, Articles with specifically marked weasel-worded phrases from August 2015, Wikipedia articles needing clarification from June 2019, Articles with unsourced statements from August 2015, Creative Commons Attribution-ShareAlike License, Carry out the expressed terms of the trust instrument, Be impartial among beneficiaries - the trustee must act impartially between individual beneficiaries, Account for actions and keep beneficiaries informed, these include a duty to inform beneficiaries as to their entitlements under the trust, Not profit; however, may charge fees for services to the Trust, Not be in a conflict of interest position, Administer in the best interest of the beneficiaries, This page was last edited on 2 April 2020, at 10:55. This is an exception explicitly granted in the 1993 act[14]. Learn more. These include the duty to: The modern interpretation of fiduciary duty requires the consideration of environmental, social, and governance (ESG) factors as these are long-term investment value drivers. According to King and Philips, many of the advantages of incorporating as a CIO are obtained if the trustees are not individuals but a corporate entity. TC - Trusteeship Council. United Nations Trusteeship Council From Simple English Wikipedia, the free encyclopedia The United Nations Trusteeship Council (French: Le Conseil de tutelle des Nations unies) is one of the six main parts of the United Nations. [12] When evaluating whether or not an institutional investor has delivered on its fiduciary duties, both the outcomes achieved and the process followed are of critical importance. ; Trusteeship function Add a one-line explanation of What this file is under... 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