The Asbestos Relief Trust is a legal entity and is strictly governed by the Trust Deed.
The Asbestos Relief Trust was registered in March 2003 under Letters of Authority No. IT1734/2003. The primary objective of the Trust is to provide compensation to Qualifying Claimants in respect of asbestos-related diseases. The Trust works to accomplish this as fully, fairly and effectively as its means allow. This is as set out in Clause 4 of the Deed of Trust.
The Trust will endure for a period of 25 years from the date of registration by the Master of the High Court. However, the Trustees having regard to the Primary Object, the interests of the initial Beneficiaries and the residual Beneficiaries may reduce or extend the life of the Trust by 5 years. This is as per Clause 10 of the Deed of Trust.
Five trustees were appointed in terms of Clause 6 of the Deed of Trust. A further two trustees were appointed to the Board in August 2013, currently bringing the total number of Trustees to seven.