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It is settled law that the trustee of any trust is unequivocally charged with the duty to invest the assets of the trust. However, in south Africa in the past, this duty has been qualified, with avoidance of risk seen as the trustee's number one priority when investing. The legislature and the judiciary focused on providing safeguards for beneficiaries and trustees were to avoid all risk to the capital of the trust. This reflected the attitude of the 19th and first half of the 20th century when the value of money had remained steady over long periods and inflation was non-existent. However, changes began to occur in world economics, such as the devaluing of currencies and progressive inflation. Despite these harsh economic realities, the courts continued for some considerable time to favour investment in interest-bearing securities. Most of the time trustees erred on the side of caution, following the judiciary's lead. Unfortunately, as it will be pointed out, this meant that the trustees were blind to their primary task, which is and always has been, to do the best for the beneficiaries. Trustees will have to expose the assets to at least some risk in order to outperform inflation, as the traditional investments are no longer suitable. This change in investment thinking was confirmed in South Africa in Administrators, Estate Richards v Nicol and Another 1999 1 SA 551 (SCA). Every trustee is, therefore, faced with a dilemma when engaging in investment decision making. He or she is under a duty to invest with the minimum of risk and also to balance the interests of competing beneficiaries. The trustee is under a duty to balance the risk against the rewards, always bearing in mind that he or she must "preserve the trust fund rather than overtly seek its advancement". Any exercise of the duty to invest will be limited by the provisions contained in the trust instrument as well as those provided for by statute, particularly the duty of care. Change occurred in English Trust Law with the introduction of the Trustee Act, 2000. The Trustee Act removes the constraints of the previous legislation and imposes positive obligations on trustees in their place, which reflect the reality of modern investment practices. Under section 1 of the Trustee Act a new uniform duty of care is created to guide trustees when performing their functions under the Act or a trust instrument. This uniformity is aimed at providing certainty and consistency in respect of the standard of competence and behaviour expected of trustees in all situations. The statutory duty of care is founded on the premise that there is a baseline standard of care expected of all trustees when investing trust assets. This standard is that of the "reasonable trustee", as referred to in section 1 (1 ) of the Trustee Act. The law in South Africa does not provide sufficient guidance for trustees, particularly in the area of trustee investment. It could certainly benefit from the sort of review that led to the changes in the English law. / Thesis (LL.M. (Estate Law))--North-West University, Potchefstroom Campus, 2006.

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This thesis analyzes the People's Republic of China's modernization strategy in order to test the hypothesis according to which the "open-door" policy might represent a shift from Marxism to a Neoclassical economy model. To do so, the author compares the performance realized by the Special Economic Zones (SEZs) and by the newly established Shanghai-Pudong New Area (1990). Although it benefits from the fourteen year old SEZs experience, it is argued, Pudong duplicates the flaws inherent to the SEZs and fails to offer advancement over their development. The author then suggests that China's initial objective to build a strong modern socialist country has apparently been gradually displaced by an evolutionary process of change similar to that in the Asian New Industrialized Countries (NICs), namely South Korea, Taiwan, Hong Kong and Singapore.

It is settled law that the trustee of any trust is unequivocally charged with the duty to invest the assets of the trust. However, in south Africa in the past, this duty has been qualified, with avoidance of risk seen as the trustee's number one priority when investing. The legislature and the judiciary focused on providing safeguards for beneficiaries and trustees were to avoid all risk to the capital of the trust. This reflected the attitude of the 19th and first half of the 20th century when the value of money had remained steady over long periods and inflation was non-existent. However, changes began to occur in world economics, such as the devaluing of currencies and progressive inflation. Despite these harsh economic realities, the courts continued for some considerable time to favour investment in interest-bearing securities. Most of the time trustees erred on the side of caution, following the judiciary's lead. Unfortunately, as it will be pointed out, this meant that the trustees were blind to their primary task, which is and always has been, to do the best for the beneficiaries. Trustees will have to expose the assets to at least some risk in order to outperform inflation, as the traditional investments are no longer suitable. This change in investment thinking was confirmed in South Africa in Administrators, Estate Richards v Nicol and Another 1999 1 SA 551 (SCA). Every trustee is, therefore, faced with a dilemma when engaging in investment decision making. He or she is under a duty to invest with the minimum of risk and also to balance the interests of competing beneficiaries. The trustee is under a duty to balance the risk against the rewards, always bearing in mind that he or she must "preserve the trust fund rather than overtly seek its advancement". Any exercise of the duty to invest will be limited by the provisions contained in the trust instrument as well as those provided for by statute, particularly the duty of care. Change occurred in English Trust Law with the introduction of the Trustee Act, 2000. The Trustee Act removes the constraints of the previous legislation and imposes positive obligations on trustees in their place, which reflect the reality of modern investment practices. Under section 1 of the Trustee Act a new uniform duty of care is created to guide trustees when performing their functions under the Act or a trust instrument. This uniformity is aimed at providing certainty and consistency in respect of the standard of competence and behaviour expected of trustees in all situations. The statutory duty of care is founded on the premise that there is a baseline standard of care expected of all trustees when investing trust assets. This standard is that of the "reasonable trustee", as referred to in section 1 (1 ) of the Trustee Act. The law in South Africa does not provide sufficient guidance for trustees, particularly in the area of trustee investment. It could certainly benefit from the sort of review that led to the changes in the English law. / Thesis (LL.M. (Estate Law))--North-West University, Potchefstroom Campus, 2006.

by Dimitri P. Bertsekas. / Caption title. / Includes bibliographical references (p. 27-29). / Research supported by the ARO. DAAL03-86-K-0171 Research supported by the NSF. DDM-8903385

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Pierre Elliott Trudeau was an active participant in the decade of social reform and political awakening that preceded the Quiet Revolution in Quebec, and continued to act as a non-partisan social and political critic until his entry into the federal liberal party in 1966. He based his contribution as pamphleteer for various movements of reform on certain basic philosophical principles. These principles can be described as a belief in the absolute value of humanity, the efficacy of reason in human action, and the necessity of moral participation by the individual in the determination of all phases of his existence. Though these principles are not systematically presented, they are discernible and their understanding is essential as a first step in any appreciation of Trudeau. / Arts, Faculty of / Political Science, Department of / Graduate

The purpose of this thesis is to study the protagonists in the theatre of Antonio Buero Vallejo and the themes that are demonstrated by means of them. In the first chapters the plays are grouped essentially chronologically and the protagonists of each are discussed. The concluding chapter attempts to consolidate the findings of the preceding chapters and examines the general characteristics and the chronological evolution of Buero's protagonists. / Arts, Faculty of / French, Hispanic, and Italian Studies, Department of / Graduate