Labuan Offshores Trusts Act 1996 · s 48

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s 48Approval of particular transactions

Where in the management or administration of a trust, a transaction is in the opinion of the Court expedient, but cannot be effected because the necessary power is not vested in the trustee by the terms of the trust or by law, the Court may, on the application of the trustee or beneficiary—

(a)

confer on the trustee, either generally or in any particular circumstance, the necessary power, on such terms and subject to such conditions, if any, as it deems fit; and

(b)

direct in what manner and from what property any money authorized to be expended, and the costs of any transaction, are to be paid or borne.