English to Romanian Bus/Financial Law: Contract(s) Act constitutiv/statut trust/societate administrare fiduciară

Exemplu context:
Protectors fundamentally derive their powers from the terms of the trust instrument. There is considerable case law and academic authority on the classification of powers1 and indeed as to their application in relation to protectors.2 Without wishing to oversimplify the position, in so far as the issues have been before the Courts concerning the powers vested in protectors, the question has largely turned on whether the powers in question are beneficial powers or fiduciary powers.3 In the case where the powers are beneficial powers, then the donee of the power is entitled to exercise the power selfishly and in his own interests if he so wishes. On the other hand, a fiduciary power carries with it an obligation to act in good faith in the interests of the beneficiaries as a whole and a duty to consider, from time to time, whether or not to exercise the power. That said, even where a power is clearly a fiduciary power, there is some debate as to what the extent of those duties are. It can certainly be argued that the duties that might be placed on an unpaid friend or relative of the settlor occupying the role of protector are not the same as would be applied to a company or an individual offering professional services as a protector.4
(Sursă: https://www.step.org/tqr/tqr-february-2010/protectors-and-en...