《中华人民共和国信托法》中英对照版
文/高凌云
1.
虽然近年来经常会受邀向国外学者和律师介绍中国的信托法，但是一直没有翻译过信托法的法条。一方面觉得没必要，因为在国外演讲，一般只要能提供用英文发表或撰写的文章提前发给听众即可，并不需要法条英译；另一方面，翻译信托法有难度，不像外商投资法，因为涉及国际法的内容，因此有相对通用的“国际语言”，翻译相对容易。
从杜克回来以后，翻看信托法法条，觉得还是翻译一下吧，因为和国外学者讨论的时候，能把英文本先给他们看一下可能更好。虽然很多英语国家有完善的Trust Law（至少是Model Law），但是由于我国信托法与英美信托法从理念到法律规定都有很大不同，因此翻译就不仅仅是个语言问题，里面必定夹杂着对法律的不同理解，甚至对法条的不同观点。
信托法作为一部老法，其英译应该各大法律英译网都有，至今我没有读过任何一篇。我翻译的时候从来不看其他人的翻译，因为一看别人的翻译，特容易被人带走，不知不觉就用了别人的词句。比如我之前翻译的那篇Vc案的判决，几天后坊间出现了另外一篇全文翻译，我从中看到了好几处我翻译的earmark，估计作者读过我的翻译，不由自主跟着我走了。
其实每个人的翻译风格都不一样，只要准确就好。我的翻译里有些词句是固定的，有些地方是只有我自己才知道的earmark，也算一种习惯。有些翻译涉及对国外法律背景的理解，有些翻译，则需要解决中文表达的模棱两可。
比如，《信托法》的第4条和第43条的翻译就有些意思。
另外，人称代词特别烦。还是采取民法总则的翻译方法，统一用阳性指代，个别地方特殊处理。
2.
关于我国2001年颁布、十八年来一直被边缘化的这部法律，有人认为这是一部创新的法律，有人认为这是一部有缺陷的法律。
对于这部法律是否应当修订，我的一位研究信托法的朋友认为这部法律很好了，不需要修订。而我认为需要修订——今天一早读到几篇微信文章，谈到包括江平先生在内的学者与监管人员都认为全国人大应当尽快启动《信托法》的启动工作。
在主张修法的人当中，有些朋友认为应当全面借鉴英美信托法来修订；有人认为应当参照日韩及我国台湾地区的信托法来修订；还有人认为就按照我国的情况来修订。
对此，我的意见是两个alternatives：一个是综合所有采纳英美信托法（因为日韩及台湾省的信托法也是源自于英美法）的国家和地区的信托法然后根据我国的实际情况来考量；第二个选择是摈弃所有的域外条条框框的制约，完全走自己的道路。然而第二个选择需要考虑英美信托法在我国是否可以由其他制度替代，如果能够替代，无需借鉴。如果不能替代，则需要在不能替代的范围内，吸收国外的制度。比如，在商事领域，信托制度只是一种应对政策限制的权宜之计，完全可以“只要做成业务”即可，无需考虑其信托理念。然而在民事领域，如欲发展普惠信托（不仅仅是目前的高净值人群的家族信托），是否有可以完全替代信托的制度？或者目前我国的信托制度是否能在这个领域起到保护和推动作用？信托法怎么修订，其实就取决于这个问题。如已有可以替代的制度，就大大方方用自己的。
3. 中英对照
中华人民共和国信托法
Trust Law of the People’s Republic of China
（2001年4月28日第九届全国人民代表大会常务委员会第二十一次会议通过）
(Adopted at the Twenty-first Session of the Ninth National People’s Congress on April 28, 2001)
Translated by: Lingyun Gao (Professor of Law, Fudan University)
第一章 总则
Chapter I In General
第一条
为了调整信托关系，规范信托行为，保护信托当事人的合法权益，促进信托事业的健康发展，制定本法。
Article 1
This Law is formulated for the purpose of adjusting trust relations, regulating trust activities, protecting the lawful rights and interests of the interested parties to a trust, and promoting the health development of the trust industry.
第二条
本法所称信托，是指委托人基于对受托人的信任，将其财产权委托给受托人，由受托人按委托人的意愿以自己的名义，为受益人的利益或者特定目的，进行管理或者处分的行为。
Article 2
The Trust in this Law refers to an activity involved in a situation in which a settlor, based on his trust in another person, entrusts his proprietary rights to the latter as a trustee, so that the trustee, in accordance with the settlor’s intent but in his own name, administers or disposes of such proprietary rights for the benefit of one or more beneficiaries or for a specific purpose.
第三条
委托人、受托人、受益人（以下统称信托当事人）在中华人民共和国境内进行民事、营业、公益信托活动，适用本法。
Article 3
This Law applies to the activities involving civil trusts, trusts with for-profit institutions as trustees, or public interest trusts conducted by settlors, trustees, and beneficiaries (hereinafter referred to as “interested parties to a trust”) within the territory of the People’s Republic of China.
第四条
受托人采取信托机构形式从事信托活动，其组织和管理由国务院制定具体办法。
Article 4
Where a trust institution engages in trust activities as a trustee, its organization and administration are regulated by the specific rules made by the State Council.
第五条
信托当事人进行信托活动，必须遵守法律、行政法规，遵循自愿、公平和诚实信用原则，不得损害国家利益和社会公共利益。
Article 5
The interested parties to a trust, while conducting trust activities, must abide by law and administrative regulations, comply with the principles of voluntariness, fairness, and honesty and good faith, and shall not harm State or social public interests.
第二章 信托的设立
Chapter II Creation of Trust
第六条
设立信托，必须有合法的信托目的。
Article 6
To create a trust, there must be a lawful trust purpose.
第七条
设立信托，必须有确定的信托财产，并且该信托财产必须是委托人合法所有的财产。
本法所称财产包括合法的财产权利。
Article 7
To create a trust, there must be ascertained trust property, and such property must be lawfully owned by the settlor.
The Property in this Law includes lawful proprietary rights.
第八条
设立信托，应当采取书面形式。
书面形式包括信托合同、遗嘱或者法律、行政法规规定的其他书面文件等。
采取信托合同形式设立信托的，信托合同签订时，信托成立。采取其他书面形式设立信托的，受托人承诺信托时，信托成立。
Article 8
To create a trust, a written form shall be adopted.
A written form includes a trust contract, a will, or a written form otherwise provided by law and administrative regulations.
Where a trust contract is adopted to create a trust, the trust is created upon execution of the trust contract. Where a written form other than a trust contract is adopted to create a trust, the trust is created upon the time the trustee accepts the trust.
第九条
设立信托，其书面文件应当载明下列事项：
（一）信托目的；
（二）委托人、受托人的姓名或者名称、住所；
（三）受益人或者受益人范围；
（四）信托财产的范围、种类及状况；
（五）受益人取得信托利益的形式、方法。
除前款所列事项外，可以载明信托期限、信托财产的管理方法、受托人的报酬、新受托人的选任方式、信托终止事由等事项。
Article 9
To create a trust, the written document [adopted to create the trust] must state the following matters:
(1) the trust purpose;
(2) the name or trade name and domicile of the settlor and trustee;
(3) the beneficiaries or the scope of beneficiaries;
(4) the coverage, categories, and conditions of the trust property; and
(5) the form and method that beneficiaries receive trust benefits.
In addition to the matters listed above, it may also state the duration of the trust, the measures of administering the trust property, the remuneration of the trustee, the method of selecting and nominating a successor trustee, and the causes for termination of the trust.
第十条
设立信托，对于信托财产，有关法律、行政法规规定应当办理登记手续的，应当依法办理信托登记。
未依照前款规定办理信托登记的，应当补办登记手续；不补办的，该信托不产生效力。
Article 10
To create a trust, where the trust property is required by relevant laws or administrative regulations to be registered, the trust shall be so registered in accordance with law.
Where a trust has not been registered in accordance with the preceding paragraph, an ex post registration shall be filed; otherwise the trust does not have effect.
第十一条
有下列情形之一的，信托无效：
（一）信托目的违反法律、行政法规或者损害社会公共利益；
（二）信托财产不能确定；
（三）委托人以非法财产或者本法规定不得设立信托的财产设立信托；
（四）专以诉讼或者讨债为目的设立信托；
（五）受益人或者受益人范围不能确定；
（六）法律、行政法规规定的其他情形。
Article 11
A trust is invalid in any of the following situations:
(1) the trust purpose violates law or administrative regulations, or harms social public interests;
(2) the trust property is not ascertainable;
(3) the settlor creates the trust on a property that is illegally owned by the settlor, or that is prohibited by this Law from being used as trust property;
(4) the trust is created for the sole purpose of pursuing litigation or debt collection;
(5) the beneficiaries or the scope of beneficiaries are not ascertainable; or
(6) the other situations as provided by law and administrative regulations.
第十二条
委托人设立信托损害其债权人利益的，债权人有权申请人民法院撤销该信托。
人民法院依照前款规定撤销信托的，不影响善意受益人已经取得的信托利益。
本条第一款规定的申请权，自债权人知道或者应当知道撤销原因之日起一年内不行使的，归于消灭。
Article 12
Where a settlor, by creating a trust, harms the interests of his creditor, the affected creditor has a right to request the people’s court to revoke such trust.
Where a people’s court revokes such a trust in accordance with the preceding paragraph, the trust benefits already received by a bona fide beneficiary is not affected.
The right to request for revocation provided in the first paragraph of this Article is extinguished if the creditor has not executed such right within one year since the creditor knows or should have known about the cause for revocation.
第十三条
设立遗嘱信托，应当遵守继承法关于遗嘱的规定。
遗嘱指定的人拒绝或者无能力担任受托人的，由受益人另行选任受托人；受益人为无民事行为能力人或者限制民事行为能力人的，依法由其监护人代行选任。遗嘱对选任受托人另有规定的，从其规定。
Article 13
To create a testamentary trust, the provisions of the Succession Law concerning wills shall be observed.
Where a person designated in the will to be trustee refuses to be or is incapable of being the trustee, a trustee is selected and nominated by the beneficiary or beneficiaries; if any beneficiary is a person with no or limited civil capacity, the trustee is selected and nominated by his guardian. If the method of selecting and nominating trustee is otherwise provided in the will, it should be followed.
第三章 信托财产
Chapter III Trust Property
第十四条
受托人因承诺信托而取得的财产是信托财产。
受托人因信托财产的管理运用、处分或者其他情形而取得的财产，也归入信托财产。
法律、行政法规禁止流通的财产，不得作为信托财产。
法律、行政法规限制流通的财产，依法经有关主管部门批准后，可以作为信托财产。
Article 14
The property received by a trustee through accepting a trust is trust property.
The property received by the trustee through administering and applying, disposing of, or otherwise utilizing the trust property, also becomes part of the trust property.
A property that is inalienable by operation of law or administrative regulations shall not be used as trust property.
A property, the alienability of which is restricted by law or administrative regulations, may be used as trust property if approval is obtained from the relevant department in charge in accordance with law.
第十五条
信托财产与委托人未设立信托的其他财产相区别。设立信托后，委托人死亡或者依法解散、被依法撤销、被宣告破产时，委托人是唯一受益人的，信托终止，信托财产作为其遗产或者清算财产；委托人不是唯一受益人的，信托存续，信托财产不作为其遗产或者清算财产；但作为共同受益人的委托人死亡或者依法解散、被依法撤销、被宣告破产时，其信托受益权作为其遗产或者清算财产。
Article 15
Trust property is separate from the other properties owned by the settlor which has not been used as trust property. After a trust is created, where the settlor dies or is dissolved or revoked in accordance with law, or is declared to be bankrupt, and if the settlor is the sole beneficiary, the trust is terminated and the trust property becomes part of the personal or liquidation estate of the settlor; if the settlor is not the sole beneficiary, the trust continues on and the trust property is not part of the personal or liquidation estate of the settlor; except that where the settlor, concurrently being one of the beneficiaries, dies, or is dissolved or revoked in accordance with law, or is declared to be bankrupt, its beneficial interests in the trust are part of its personal or liquidation estate.
第十六条
信托财产与属于受托人所有的财产（以下简称固有财产）相区别，不得归入受托人的固有财产或者成为固有财产的一部分。
受托人死亡或者依法解散、被依法撤销、被宣告破产而终止，信托财产不属于其遗产或者清算财产。
Article 16
Trust property is separate from the properties owned by the trustee (hereinafter referred to as “self-owned property”) and shall not belong to or become part of the trustee’s self-owned property.
Where a trustee dies or is terminated owing to its dissolution or being revoked in accordance with law, or by a declaration of bankruptcy, the trust property is not part of the personal or liquidation estate of the trustee.
第十七条
除因下列情形之一外，对信托财产不得强制执行：
（一）设立信托前债权人已对该信托财产享有优先受偿的权利，并依法行使该权利的；
（二）受托人处理信托事务所产生债务，债权人要求清偿该债务的；
（三）信托财产本身应担负的税款；
（四）法律规定的其他情形。
对于违反前款规定而强制执行信托财产，委托人、受托人或者受益人有权向人民法院提出异议。
Article 17
Trust property shall not be forcibly executed unless under one of the following circumstances:
(1) a creditor who had a priority right against the trust property before the trust was created exercises this right in accordance with law;
(2) a creditor requests for repayment of a debt incurred while the trustee handled the trust-related matters;
(3) there is a tax obligation upon the trust property; or
(4) the other circumstances as provided by law.
Where trust property has been forcibly executed in violation of the preceding paragraph, the settlor, trustee, or beneficiary [of the trust] may challenge it in the people’s court.
第十八条
受托人管理运用、处分信托财产所产生的债权，不得与其固有财产产生的债务相抵销。
受托人管理运用、处分不同委托人的信托财产所产生的债权债务，不得相互抵销。
Article 18
Where a trustee administers, applies, and disposes of trust property and obtains a creditor’s right, such right shall not set off a debt incurred out of its self-owned property.
Where a trustee obtains creditor’s rights and incurs debts through administering, applying, and disposing of trust properties from different settlors, such rights and debts shall not set off against each other.
第四章 信托当事人
Chapter IV Interested Parties to A Trust
第一节委托人
Section I Settlor
第十九条
委托人应当是具有完全民事行为能力的自然人、法人或者依法成立的其他组织。
Article 19
A settlor shall be a natural person or a legal person[2]with full civil capacity, or otherwise an organization duly established according to law.
第二十条
委托人有权了解其信托财产的管理运用、处分及收支情况，并有权要求受托人作出说明。
委托人有权查阅、抄录或者复制与其信托财产有关的信托帐目以及处理信托事务的其他文件。
Article 20
A settlor has a right to know about the administration, application, disposal of, and income and expenses of his trust property, and has a right to request the trustee to make clarifications.
A settlor has a right to read, transcribe, or duplicate the trust account relating to his trust property, and the other documents relating to the handling of the trust-related matters.
第二十一条
因设立信托时未能预见的特别事由，致使信托财产的管理方法不利于实现信托目的或者不符合受益人的利益时，委托人有权要求受托人调整该信托财产的管理方法。
Article 21
Where, owing to some special causes unforeseeable upon creation of a trust, the measures for administering the trust property cannot facilitate the accomplishment of the trust purpose or is not in line with the beneficiaries’ interests, the settlor may request the trustee to modify the administrative measures.
第二十二条
受托人违反信托目的处分信托财产或者因违背管理职责、处理信托事务不当致使信托财产受到损失的，委托人有权申请人民法院撤销该处分行为，并有权要求受托人恢复信托财产的原状或者予以赔偿；该信托财产的受让人明知是违反信托目的而接受该财产的，应当予以返还或者予以赔偿。
前款规定的申请权，自委托人知道或者应当知道撤销原因之日起一年内不行使的，归于消灭。
Article 22
Where a trustee disposes of trust property against the trust purpose or unduly handles trust-related matters in breach of its duty of administration, so that the trust property suffers loss, the settlor may request the people’s court to revoke such activity, and to request the settlor to restore the trust property to its original status or make compensation; the transferee of such trust property, who accepts the property while knowing that the trust purpose is violated, shall return the property or make compensation.
The right to request for revocation provided in the preceding paragraph is extinguished within one year since the settlor knows or should have known about the cause for revocation.
第二十三条
受托人违反信托目的处分信托财产或者管理运用、处分信托财产有重大过失的，委托人有权依照信托文件的规定解任受托人，或者申请人民法院解任受托人。
Article 23
Where a trustee disposes of trust property against the trust purpose or has gross negligence in administering, applying, or disposing of the trust property, the settlor has a right to remove the trustee in accordance with the trust instrument, or to request the people’s court to remove the trustee.
第二节受托人
Section II Trustee
第二十四条
受托人应当是具有完全民事行为能力的自然人、法人。
法律、行政法规对受托人的条件另有规定的，从其规定。
Article 24
A trustee shall be a natural person or legal person with full civil capacity.
The rules otherwise provided by law or administrative regulations concerning the eligibility of trustees, if any, should be followed.
第二十五条
受托人应当遵守信托文件的规定，为受益人的最大利益处理信托事务。
受托人管理信托财产，必须恪尽职守，履行诚实、信用、谨慎、有效管理的义务。
Article 25
A trustee shall observe the provisions of the trust instrument and handle the trust-related matters to the best interest of the beneficiaries.
Where administering the trust property, a trustee must be dedicated and perform the duties of honesty, good faith, prudence, and efficiency.
第二十六条
受托人除依照本法规定取得报酬外，不得利用信托财产为自己谋取利益。
受托人违反前款规定，利用信托财产为自己谋取利益的，所得利益归入信托财产。
Article 26
A trustee shall not obtain personal benefits from the trust property except that the trustee may receive remuneration according to the provisions of this Law.
Where a trustee obtains personal benefits from the trust property in violation of the preceding paragraph, the benefits thus obtained shall be divested and become part of the trust property.
第二十七条
受托人不得将信托财产转为其固有财产。受托人将信托财产转为其固有财产的，必须恢复该信托财产的原状；造成信托财产损失的，应当承担赔偿责任。
Article 27
A trustee shall not turn trust property into self-owned property. Where a trustee turns trust property into self-owned property, the trustee must restore the trust property to its original status; if the trust property thus suffers any loss, the trustee shall assume compensatory liability.
第二十八条
受托人不得将其固有财产与信托财产进行交易或者将不同委托人的信托财产进行相互交易，但信托文件另有规定或者经委托人或者受益人同意，并以公平的市场价格进行交易的除外。
受托人违反前款规定，造成信托财产损失的，应当承担赔偿责任。
Article 28
A trustee shall not deal self-owned property with the trust property, or deal trust properties of different settlors with each other, unless otherwise provided by the trust instrument, or upon consent by the settlor or beneficiaries and at a fair market value.
A trustee who violates the preceding paragraph and thus causes loss to the trust property shall assume compensatory liability.
第二十九条
受托人必须将信托财产与其固有财产分别管理、分别记帐，并将不同委托人的信托财产分别管理、分别记帐。
Article 29
A trustee must administer and keep accounts for the trust property and the self-owned property separately, and administer and keep accounts for the trust properties of different settlors separately.
第三十条
受托人应当自己处理信托事务，但信托文件另有规定或者有不得已事由的，可以委托他人代为处理。
受托人依法将信托事务委托他人代理的，应当对他人处理信托事务的行为承担责任。
Article 30
A trustee shall personally handle the trust-related matters by himself, unless otherwise provided by the trust instrument or with an absolute necessity, then the trustee may entrust another person to handle it.
Where a trustee entrusts the trust-related matters to someone else in accordance with law, the trustee shall assume liability for the activities conducted by the latter in handling the trust-related matters.
第三十一条
同一信托的受托人有两个以上的，为共同受托人。
共同受托人应当共同处理信托事务，但信托文件规定对某些具体事务由受托人分别处理的，从其规定。
共同受托人共同处理信托事务，意见不一致时，按信托文件规定处理；信托文件未规定的，由委托人、受益人或者其利害关系人决定。
Article 31
Where a trust has two or more trustees, the trustees are co-trustees.
The co-trustees shall handle the trust-related matters collectively, except that where the trust instrument provides that some specific matters are to be handled by a specific trustee, such provision shall be followed.
Where co-trustees cannot reach an agreement while collectively handling a trust-related matter, it shall be resolved according to the trust instrument; where there is no relevant provision in the trust instrument, it shall be determined by the settlor, beneficiaries, or other interested persons.
第三十二条
共同受托人处理信托事务对第三人所负债务，应当承担连带清偿责任。第三人对共同受托人之一所作的意思表示，对其他受托人同样有效。
共同受托人之一违反信托目的处分信托财产或者因违背管理职责、处理信托事务不当致使信托财产受到损失的，其他受托人应当承担连带赔偿责任。
Article 32
The co-trustees shall assume joint and several liability of repaying the debts incurred to a third person by the co-trustees when handling trust-related matters. The expression of intent manifested by a third person to one of the co-trustees is as well effective against the other co-trustees.
Where the trust property suffers loss which is caused by one of the co-trustees who disposes of the trust property against the trust purpose, or who unduly handles the trust-related matters in breach of its duty of administration, the other co-trustees shall assume joint and several liability for compensation.
第三十三条
受托人必须保存处理信托事务的完整记录。
受托人应当每年定期将信托财产的管理运用、处分及收支情况，报告委托人和受益人。
受托人对委托人、受益人以及处理信托事务的情况和资料负有依法保密的义务。
Article 33
A trustee must keep a complete record for the trust-related matters it has handled.
A trustee shall regularly report to the settlor and beneficiaries the administration and application, disposal of, and income and expenses of the trust property on an annual basis.
A trustee has a duty to keep confidential in accordance with law the information and materials concerning the settlor, beneficiaries, and the handling of the trust-related matters.
第三十四条
受托人以信托财产为限向受益人承担支付信托利益的义务。
Article 34
A trustee has a duty to distribute trust benefits to beneficiaries to the extent of the trust property.
第三十五条
受托人有权依照信托文件的约定取得报酬。信托文件未作事先约定的，经信托当事人协商同意，可以作出补充约定；未作事先约定和补充约定的，不得收取报酬。
约定的报酬经信托当事人协商同意，可以增减其数额。
Artic le 35
A trustee has a right to receive remuneration in accordance with the agreement stated in the trust instrument. Where the trust instrument does not state any such agreement, upon negotiation and consent by the interested parties to the trust, supplementary agreement may be reached; no remuneration shall be received if there is no prior or supplementary agreement.
The amount of remuneration negotiated by and agreed upon by the interested parties to the trust shall be increased or decreased.
第三十六条
受托人违反信托目的处分信托财产或者因违背管理职责、处理信托事务不当致使信托财产受到损失的，在未恢复信托财产的原状或者未予赔偿前，不得请求给付报酬。
Article 36
A trustee, who disposes of the trust property against the trust purpose or unduly handles the trust-related matters so as to cause loss to the trust property, shall not request for remuneration before the trust property is restored to its original status or compensation is made.
第三十七条
受托人因处理信托事务所支出的费用、对第三人所负债务，以信托财产承担。受托人以其固有财产先行支付的，对信托财产享有优先受偿的权利。
受托人违背管理职责或者处理信托事务不当对第三人所负债务或者自己所受到的损失，以其固有财产承担。
Article 37
The expenses incurred by a trustee for handling trust-related matters and the debts thus owed to a third person shall be paid out of the trust property. The trustee who has made advance payment from his self-owned property has a priority right to be paid from the trust property.
The debts owed to a third person incurred by the trustee in breach of his administrative duty or unduly handling of the trust-related matters, or the loss thus suffered on the trustee himself, shall be paid from the trustee’s self-owned property.
第三十八条
设立信托后，经委托人和受益人同意，受托人可以辞任。本法对公益信托的受托人辞任另有规定的，从其规定。
受托人辞任的，在新受托人选出前仍应履行管理信托事务的职责。
Article 38
After a trust is created, the trustee may resign from office upon agreement by the settlor and the beneficiaries. The provisions otherwise applicable to resignation of the trustee of a public interest trust provided in this Law should be followed.
Where a trustee resigns, he shall continue to perform his duties and responsibilities of administering the trust-related matters before a successor trustee is selected.
第三十九条
受托人有下列情形之一的，其职责终止：
（一）死亡或者被依法宣告死亡；
（二）被依法宣告为无民事行为能力人或者限制民事行为能力人；
（三）被依法撤销或者被宣告破产；
（四）依法解散或者法定资格丧失；
（五）辞任或者被解任；
（六）法律、行政法规规定的其他情形。
受托人职责终止时，其继承人或者遗产管理人、监护人、清算人应当妥善保管信托财产，协助新受托人接管信托事务。
Article 39
A trustee’s duties and responsibilities are terminated under one of the following circumstances:
(1) the trustee dies or is declared to be dead in accordance with law;
(2) the trustee is declared to be a person with no or limited civil capacity in accordance with law;
(3) the trustee is revoked in accordance with law or declared to be bankrupt;
(4) the trustee is dissolved in accordance with law or loses its legal status;
(5) the trustee resigns or is removed from office; or
(6) the other circumstances as provided by law or administrative regulations.
Upon termination of the trustee’s duties and responsibilities, the heirs, estate administrator, guardian, or liquidator of the trustee shall well keep the trust property and assist in the successor trustee to accept the trust-related matters.
第四十条
受托人职责终止的，依照信托文件规定选任新受托人；信托文件未规定的，由委托人选任；委托人不指定或者无能力指定的，由受益人选任；受益人为无民事行为能力人或者限制民事行为能力人的，依法由其监护人代行选任。
原受托人处理信托事务的权利和义务，由新受托人承继。
Article 40
Upon termination of a trustee’s duties and responsibilities, a successor trustee is selected and appointed in accordance with the trust instrument; where the trust instrument does not provide thereof, a successor trustee is selected and appointed by the settlor; where the settlor does not or is incapable of making the selection and appointment, a successor trustee is selected and appointed by the beneficiaries; if any beneficiary has no or limited civil capacity, a successor trustee is selected and appointed by his guardian.
The rights and obligations of the original trustee to handle the trust-related matters are succeeded by the successor trustee.
第四十一条
受托人有本法第三十九条第一款第（三）项至第（六）项所列情形之一，职责终止的，应当作出处理信托事务的报告，并向新受托人办理信托财产和信托事务的移交手续。
前款报告经委托人或者受益人认可，原受托人就报告中所列事项解除责任。但原受托人有不正当行为的除外。
Article 41
Where a trustee’s duties and responsibilities are terminated owing to the fact that one of the items (3) to (6) as listed in the first paragraph of Article 39 of this Law is satisfied, the trustee shall make a report on his handling of the trust-related matters, and transfer the trust property and the trust-related matters to the successor trustee.
Once the aforementioned report is approved by the settlor or beneficiaries, the trustee’s responsibility is discharged on the matters listed in the report, unless the trustee had committed any misconduct therein.
第四十二条
共同受托人之一职责终止的，信托财产由其他受托人管理和处分。
Article 42
Where one of the co-trustees’ duties and responsibilities are terminated, the trust property shall be administered and disposed of by the other co-trustees.
第三节受益人
Section III Beneficiary
第四十三条
受益人是在信托中享有信托受益权的人。受益人可以是自然人、法人或者依法成立的其他组织。
委托人可以是受益人，也可以是同一信托的唯一受益人。
受托人可以是受益人，但不得是同一信托的唯一受益人。
Article 43
A beneficiary is a person who has a beneficial interest in a trust. A beneficiary may be a natural person, a legal person, or otherwise an organization duly established in accordance with law.
A settlor may be a beneficiary, or the sole beneficiary of the trust he creates.
A trustee may be a beneficiary, but may not be the sole beneficiary of the trust it administers.
第四十四条
受益人自信托生效之日起享有信托受益权。信托文件另有规定的，从其规定。
Article 44
A beneficiary may enjoy his beneficial interest in the trust since the date the trust becomes effective, unless otherwise provided by the trust instrument.
第四十五条
共同受益人按照信托文件的规定享受信托利益。信托文件对信托利益的分配比例或者分配方法未作规定的，各受益人按照均等的比例享受信托利益。
Article 45
Co-beneficiaries enjoy trust benefits in accordance with the trust instrument. Where the trust instrument does not provide the proportion or measure of distribution of the trust benefits, the beneficiaries enjoy the trust benefits in equal share.
第四十六条
受益人可以放弃信托受益权。
全体受益人放弃信托受益权的，信托终止。
部分受益人放弃信托受益权的，被放弃的信托受益权按下列顺序确定归属：
（一）信托文件规定的人；
（二）其他受益人；
（三）委托人或者其继承人。
Article 46
A beneficiary may waive his beneficial interest in the trust.
Where all beneficiaries waive their beneficial interests in a trust, the trust is terminated.
Where some of the beneficiaries waive their beneficial interests in a trust, such waived interests shall, in the following order, be vested with:
(1) the person(s) as provided in the trust instrument;
(2) the other beneficiaries; or
(3) the settlor or his heirs.
第四十七条
受益人不能清偿到期债务的，其信托受益权可以用于清偿债务，但法律、行政法规以及信托文件有限制性规定的除外。
Article 47
Where a beneficiary is unable to pay off his debts at maturity, his beneficial interest in the trust may be applied to repay the debts, unless otherwise provided by law or administrative regulations, or restricted by the trust instrument.
第四十八条
受益人的信托受益权可以依法转让和继承，但信托文件有限制性规定的除外。
Article 48
A beneficiary’s beneficial interest in a trust may be alienated and inherited in accordance with law, unless otherwise restricted by the trust instrument.
第四十九条
受益人可以行使本法第二十条至第二十三条规定的委托人享有的权利。受益人行使上述权利，与委托人意见不一致时，可以申请人民法院作出裁定。
受托人有本法第二十二条第一款所列行为，共同受益人之一申请人民法院撤销该处分行为的，人民法院所作出的撤销裁定，对全体共同受益人有效。
Article 49
A beneficiary may exercise the rights granted to a settlor as provided in Articles 20-23 of this Law. Where a beneficiary has a disagreement with the settlor upon exercising such rights, the beneficiary may request the people’s court to make decision.
Where a trustee has conducted any activities listed in the first paragraph of Article 22 of this Law, and one of the beneficiaries requests a people’s court to revoke such act, the decision of revoking such act made by the people’s court is effective against all beneficiaries.
第五章 信托的变更与终止
Chapter V Modification and Termination of Trust
第五十条
委托人是唯一受益人的，委托人或者其继承人可以解除信托。信托文件另有规定的，从其规定。
Article 50
Where a settlor is the sole beneficiary of a trust he creates, the settlor or his heirs may revoke the trust, unless otherwise provided by the trust instrument.
第五十一条
设立信托后，有下列情形之一的，委托人可以变更受益人或者处分受益人的信托受益权：
（一）受益人对委托人有重大侵权行为；
（二）受益人对其他共同受益人有重大侵权行为；
（三）经受益人同意；
（四）信托文件规定的其他情形。
有前款第（一）项、第（三）项、第（四）项所列情形之一的，委托人可以解除信托。
Article 51
After a trust is created, the settlor may change a beneficiary, or dispose of the beneficiary’s beneficial interest in the trust if any of the following occurs:
(1) the beneficiary has committed a gross tortious act against the settlor;
(2) the beneficiary has committed a gross tortious act against the other beneficiaries;
(3) it is consented to by the beneficiary; or
(4) there is a situation otherwise provided by the trust instrument.
A settlor may revoke the trust if the situation listed in items (1), (3), or (4) of the preceding paragraph occurs.
第五十二条
信托不因委托人或者受托人的死亡、丧失民事行为能力、依法解散、被依法撤销或者被宣告破产而终止，也不因受托人的辞任而终止。但本法或者信托文件另有规定的除外。
Article 52
A trust is not terminated upon death, loss of civil capacity, being dissolved or revoked in accordance with law, or being declared to be bankrupt of the settlor or trustee, nor is it terminated upon resignation of the trustee, unless otherwise provided by this Law or the trust instrument.
第五十三条
有下列情形之一的，信托终止：
（一）信托文件规定的终止事由发生；
（二）信托的存续违反信托目的；
（三）信托目的已经实现或者不能实现；
（四）信托当事人协商同意；
（五）信托被撤销；
（六）信托被解除。
Article 53
A trust is terminated under one of the following circumstances:
(1) a cause for termination as provided in the trust instrument occurs;
(2) the continuance of the trust is against the trust purpose;
(3) the trust purpose has been accomplished or will never be accomplished;
(4) the interested parties to the trust have negotiated and consented to [the termination];
(5) the trust is revoked; or
(6) the trust is dissolved.
第五十四条
信托终止的，信托财产归属于信托文件规定的人；信托文件未规定的，按下列顺序确定归属：
（一）受益人或者其继承人；
（二）委托人或者其继承人。
Article 54
Upon termination of a trust, the person(s) as provided in the trust instrument have vested interests in the [residual] trust property; where the trust instrument does not provide it therein, the persons below, in the following order, have vested interests in the [residual] trust property:
(1) the beneficiary or his heirs; or
(2) the settlor or his heirs.
第五十五条
依照前条规定，信托财产的归属确定后，在该信托财产转移给权利归属人的过程中，信托视为存续，权利归属人视为受益人。
Article 55
After the persons with vested interests in the [residual] trust property have been determined in accordance with the preceding Article, the trust is deemed to be existent during the process of distributing the trust property to the persons with vested interests and such persons are deemed to be beneficiaries.
第五十六条
信托终止后，人民法院依据本法第十七条的规定对原信托财产进行强制执行的，以权利归属人为被执行人。
Article 56
Where a people’s court forcibly executes the trust property of a trust according to Article 17 of this Law after such trust is terminated, the persons with vested interests in the [residual] trust property shall be subject to the execution.
第五十七条
信托终止后，受托人依照本法规定行使请求给付报酬、从信托财产中获得补偿的权利时，可以留置信托财产或者对信托财产的权利归属人提出请求。
Article 57
Where a trustee, after the trust is terminated, requests for remuneration or compensation out of the trust property in accordance with this Law, the trustee may impose a lien on the trust property or make such request to the persons with vested interests in the trust property.
第五十八条
信托终止的，受托人应当作出处理信托事务的清算报告。受益人或者信托财产的权利归属人对清算报告无异议的，受托人就清算报告所列事项解除责任。但受托人有不正当行为的除外。
Article 58
Upon termination of a trust, the trustee shall make a liquidation report concerning his handling of the trust-related matters. The trustee’s responsibility is discharged to the extent of the matters listed in the liquidation report if the beneficiaries or the persons with vested interests in the [residual] trust property have no disagreement thereon, unless the trustee has committed misconducts.
第六章 公益信托
Chapter VI Public Interest Trust
第五十九条
公益信托适用本章规定。本章未规定的，适用本法及其他相关法律的规定。
Article 59
This Chapter applies to public interest trusts. For the matters this Chapter does not provide for, this Law and other relevant laws shall be applied.
第六十条
为了下列公共利益目的之一而设立的信托，属于公益信托：
（一）救济贫困；
（二）救助灾民；
（三）扶助残疾人；
（四）发展教育、科技、文化、艺术、体育事业；
（五）发展医疗卫生事业；
（六）发展环境保护事业，维护生态环境；
（七）发展其他社会公益事业。
Article 60
A trust created for any of the following public interest purposes is a public interest trust:
(1) for poverty relief;
(2) for rescuing victims of natural calamities;
(3) for assisting in the disabled;
(4) for developing education, science and technology, culture, arts, and physical education;
(5) for developing medical and health services;
(6) for developing environmental protection and maintaining ecological environment; or
(7) for developing other social public welfare undertakings.
第六十一条
国家鼓励发展公益信托。
Article 61
The State encourages the development of public interest trusts.
第六十二条
公益信托的设立和确定其受托人，应当经有关公益事业的管理机构（以下简称公益事业管理机构）批准。
未经公益事业管理机构的批准，不得以公益信托的名义进行活动。
公益事业管理机构对于公益信托活动应当给予支持。
Article 62
The creation of a public interest trust and the determination of its trustee shall be approved by the administrative agency for public welfare undertakings (hereinafter referred to as “public welfare administrative agency”).
Without being approved by the public welfare administrative agency, no one shall engage in activities in the name of a public interest trust.
The public welfare administrative agency shall support the activities of public interest trusts.
第六十三条
公益信托的信托财产及其收益，不得用于非公益目的。
Article 63
The trust property and its proceeds of a public interest trust shall not be used for non-public interest purposes.
第六十四条
公益信托应当设置信托监察人。
信托监察人由信托文件规定。信托文件未规定的，由公益事业管理机构指定。
Article 64
A public interest trust shall have a trust supervisor.
The trust supervisor shall be designated in the trust instrument. Where a trust supervisor is not designated in the trust instrument, it shall be appointed by the public welfare administrative agency.
第六十五条
信托监察人有权以自己的名义，为维护受益人的利益，提起诉讼或者实施其他法律行为。
Article 65
A trust supervisor has a right to sue or implement other legal activities in its own name to protect the beneficiaries’ interests.
第六十六条
公益信托的受托人未经公益事业管理机构批准，不得辞任。
Article 66
The trustee of a public interest trust shall not resign from office without being approved by the public welfare administrative agency.
第六十七条
公益事业管理机构应当检查受托人处理公益信托事务的情况及财产状况。
受托人应当至少每年一次作出信托事务处理情况及财产状况报告，经信托监察人认可后，报公益事业管理机构核准，并由受托人予以公告。
Article 67
The public welfare administrative agency shall inspect the trustee’s handling of the public interest trust and its property situation.
A trustee shall, at least once a year, make a report on its handling of the trust-related matters and the trust property, and such report shall be publicized by the trustee after it has been accepted by the trust supervisor and submitted and approved by the public welfare administrative agency.
第六十八条
公益信托的受托人违反信托义务或者无能力履行其职责的，由公益事业管理机构变更受托人。
Article 68
Where a trustee of a public interest trust breaches its fiduciary duty or is incapable of performing its duties and responsibilities, the public welfare administrative agency may change the trustee.
第六十九条
公益信托成立后，发生设立信托时不能预见的情形，公益事业管理机构可以根据信托目的，变更信托文件中的有关条款。
Article 69
Where an event, which was unforeseeable upon the time the trust was created, occurs after a public interest trust is created, the public welfare administrative agency may modify the relevant provisions of the trust instrument in accordance with the trust purpose.
第七十条
公益信托终止的，受托人应当于终止事由发生之日起十五日内，将终止事由和终止日期报告公益事业管理机构。
Article 70
Upon termination of a public interest trust, the trustee shall, within 15 days since the cause for termination occurs, report to the public welfare administrative agency about the cause for and the date of the termination.
第七十一条
公益信托终止的，受托人作出的处理信托事务的清算报告，应当经信托监察人认可后，报公益事业管理机构核准，并由受托人予以公告。
Article 71
Upon termination of a public interest trust, the liquidation report made by the trustee concerning its handling of the trust-related matters shall be publicized after it is accepted by the trust supervisor and submitted to and approved by the public welfare administrative agency.
第七十二条
公益信托终止，没有信托财产权利归属人或者信托财产权利归属人是不特定的社会公众的，经公益事业管理机构批准，受托人应当将信托财产用于与原公益目的相近似的目的，或者将信托财产转移给具有近似目的的公益组织或者其他公益信托。
Article 72
Upon termination of a public interest trust, where no person has a vested interest in the trust property, or the persons with a vested interest in the trust property are indefinite social public, the trustee shall, upon approval by the public welfare administrative agency, apply the trust property to a purpose similar to the public interest purpose of the trust, or transfer the trust property to a public interest organization or another public interest trust with a similar purpose.
第七十三条
公益事业管理机构违反本法规定的，委托人、受托人或者受益人有权向人民法院起诉。
Article 73
Where the public welfare administrative agency violates the provisions of this Law, a settlor, trustee, or beneficiary has a right to sue in a people’s court.
第七章附则
Chapter VII Supplementary Provisions
第七十四条
本法自2001年10月1日起施行。
Article 74
This Law shall take effect since October 1, 2001.
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云翻译工作室 出品
主编： 高凌云
副主编： 郑家豪 赵予慈 齐冠云 崔伟 丁伯韬 朱文
撰稿人： 赖雪金 蒋佳颖 蒋彧 管洁泉 商可航 倪国伟 董正清
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更多翻译请见：
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2018/19美国最高法院判例译述(9)——当仲裁法邂逅劳动法
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2018/19美国最高法院判例译述(16)——IFC只享有有限豁免权