Bermuda has enacted The Trusts (Special Provisions) Act 1989 which became effective January 31, 1990. Section 11 of this Act provides in part that where "a trust is validly created under the law of Bermuda the Court shall not vary it or set it aside pursuant to the law of another jurisdiction in respect of...the protection of creditors in matters of insolvency...unless the law of Bermuda has corresponding laws or public policy rules." This Act also permits a schedule of statutory boilerplate to be easily incorporated into a trust by a simple reference. Bermuda like a number of its neighbors has a substantial history of professionally dealing with offshore trusts. Normally, a Bermuda court will not assume jurisdiction to enforce a judgment against the United States settlor of an asset protection trust unless the settlor is resident in Bermuda. Bermuda permits the formation of private trust companies to serve as trustee of an asset protection trust. The stock of this company may be owned by the settlor's family members or a trust set up for this purpose. It is thought that by using private trust companies the settlor has firmer control without actually holding the power to remove and appoint trustees. As a condition to forming a private trust company the names and addresses of its beneficial owners must be disclosed to the Bermuda Monetary Authority which treats such information as confidential.