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This is a report on the House of Commons Committee Stage of the Trusts (Capital and Income) Bill [HL] (the Bill). It complements Research Paper 12/65 prepared for the Commons Second Reading.

The Bill is based substantially on a draft bill prepared by the Law Commission and is following the special procedure which applies to Law Commission bills. The Bill deals with technical and complex matters relating to trust law where trustees have to distinguish between capital and income in their management of the trust property. It is supported by the Opposition and by professional groups.

The Bill was considered by a Second Reading Committee on 5 November 2012 and by a Public Bill Committee in a single sitting on 13 November 2012. The Bill was reported without amendment.

The Bill would extend to England and Wales.

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