Labuan Offshores Trusts Act 1996 · s 3

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s 3Existence of a trust

A trust exists where a person holds or has vested in him or is deemed to hold or have vested in him property of which he is not the owner in his own right and is under an obligation as a trustee to deal with that property—

(a)

for the benefit of any beneficiary, whether or not ascertained or in existence;

(b)

for any purpose which is not for the benefit of the trustee; or

(c)

for both such benefit and purpose mentioned in paragraphs (a) and (b).