Gaois

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  1. FINANCE|financial institutions and credit

    #669618

    IATE #3643745
    default taker | taker in default
    en
    Definition natural or legal persons or class of natural or legal persons who are the beneficiaries of a discretionary trust should the trustees fail to exercise their discretion
    Comment In the context of a power of appointment, the takers in default are the individuals who take if the power is not properly exercised.