摘要：This article examines the current trend towards income trust conversion in the oil and gas industry and the various business and legal implications which arise as a result. Documented is the history ofthe development of the income trust, various methods in which income trusts are managed structures in which they exist, methods ofconversion, and lax treatment. The various implications of income trusts to the oil and gas lawyer are then discussed, with a focus on asset transactions and multi-party deals, as well as the concerns arising for counter parties to a transaction with a trust entity. Finally, evolving issues affecting income trusts are addressed.
