Labuan Offshores Trusts Act 1996 · s 8

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s 8Creation of Labuan trust

(1)

A Labuan trust shall not be valid unless it is created by a will or other instrument in writing, including a unilateral declaration of trust, but a unit trust shall be created only by a will or other instrument in writing.

(2)

A unilateral declaration of trust is a declaration in writing by a trust company stating—

(a)

that it is the trustee of a Labuan trust;

(b)

the name of the trust;

(c)

the terms of the trust; and

(d)

the names or information enabling the identification of all the beneficiaries.

(3)

A unilateral declaration of trust need not contain the name of the settlor, but in such case the declaration shall contain a statement by the trust company that the settlor is a qualified person on the date of the making of the declaration.