nondiscretionary trust

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Noun1.nondiscretionary trust - an investment trust that can buy only those securities listed when the trust was organized
investment company, investment firm, investment trust, fund - a financial institution that sells shares to individuals and invests in securities issued by other companies
References in periodicals archive ?
Under existing paragraph 94(1)(d) of the Act, a Canadian taxpayer's beneficial interest in a foreign non-discretionary trust can also be deemed to represent shares of a CFA if the taxpayer owns 10 percent or more of the total beneficial interests in the trust.
IHT is not charged on lifetime gifts to either an individual or non-discretionary trusts if they are made at least seven years before the date of death.