| 单词 | discretionary order |
| 释义 | discretionary order discretionary order1. An order given to a stockbroker, commodity broker, etc., to buy or sell a stated quantity of specified securities or commodities, leaving the broker discretion to deal at the best price. discretionary trust1. A trust in which the shares of each beneficiary are not fixed by the settlor in the trust deed but may be varied at the discretion of some person or persons (often the trustees). Such trusts may be particularly useful when the needs of the beneficiaries are likely to change, as in the case of children. Formerly, many discretionary trusts took the form of accumulation and maintenance (A & M) trusts, in which income could be carried forward from one year to the next with no distributions to the beneficiaries being required. Apart from their other advantages, such trusts were widely used to avoid liability to inheritance tax, leading to a series of changes to the law. Most discretionary trusts are now relevant property trusts for tax purposes; from April 2008 all existing A & M trusts were reclassified as either 18–25 trusts or relevant property trusts, thereby losing their remaining tax advantages. discriminating monopoly A monopoly in which the supplier’s products or services are sold to consumers at different prices; by dividing the market into segments and charging each market segment the price it will bear, the monopolist increases profits. An example is the different domestic and industrial tariffs operated by suppliers of electricity in many countries. |
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