Labuan Offshores Trusts Act 1996 · s 11A

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11A.
Purpose trusts
(1) Notwithstanding any law to the contrary, a trust may be created or established under this Act for a particular purpose or purposes, whether charitable or not.
(2) Without prejudice to subsection (1), the objects of a trust may be—
(a) persons of any number;
(b)  purposes of any number or kind; or
(c)  both the person or persons and purpose or purposes, provided that the purposes are lawful and not contrary to public policy.
(3) A purpose trust shall be enforceable by the enforcer appointed in accordance with section 11C.
(4) Notwithstanding subsection (3), where the objects of a purpose trust include a person, such person shall be entitled to enforce the purpose trust as regard the person and not a purpose.

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(5) Any instrument creating or evidencing a purpose trust may—
(a)  specify an event or date upon the occurrence of which the trust ceases to be a purpose trust;
(b)  provide for the disposition of the property of the trust when the trust ceases to be a purpose trust; and
(c)  provide that, for so long as the trust is a purpose trust, the trustees owe no duty—
(i)  to any person entitled to such property when the trust ceases to be a purpose trust; or
(ii)  in relation to any purposes for which such property are then to be applied.

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s 11APurpose trusts

(1)

Notwithstanding any law to the contrary, a trust may be created or established under this Act for a particular purpose or purposes, whether charitable or not.

(2)

Without prejudice to subsection (1), the objects of a trust may be—

(a)

persons of any number;

(b)

purposes of any number or kind; or

(c)

both the person or persons and purpose or purposes, provided that the purposes are lawful and not contrary to public policy.

(3)

A purpose trust shall be enforceable by the enforcer appointed in accordance with section 11C.

(4)

Notwithstanding subsection (3), where the objects of a purpose trust include a person, such person shall be entitled to enforce the purpose trust as regard the person and not a purpose.

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(5)

Any instrument creating or evidencing a purpose trust may—

(a)

specify an event or date upon the occurrence of which the trust ceases to be a purpose trust;

(b)

provide for the disposition of the property of the trust when the trust ceases to be a purpose trust; and

(c)

provide that, for so long as the trust is a purpose trust, the trustees owe no duty—

(i)

to any person entitled to such property when the trust ceases to be a purpose trust; or

(ii)

in relation to any purposes for which such property are then to be applied.