EU regulatory register · AMLR
Article 60Identification of objects of a power and default takers in discretionary trusts
CELEX 32024R1624 · Read on 2026-08-22
Official text
Read from the EU Publications Office for this CELEX number. The wording stands as published; nothing here is rewritten or summarised.
In the case of discretionary trusts, where beneficiaries have yet to be selected, the objects of a power and default takers shall be identified. Beneficiaries among the objects of a power shall be beneficial owners as soon as they are selected. Default takers shall be beneficial owners when the trustees fail to exercise their discretion.
Where discretionary trusts meet the conditions laid down in Article 59(2), only the class of objects of a power and default takers shall be identified. Those categories of discretionary trusts shall be notified to the Commission in accordance with paragraph 3 of that Article.
The text is quoted from the official source and is not legal advice. A national court reads the language version that binds in its jurisdiction.
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