Labuan Offshores Trusts Act 1996 · s 23

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s 23Disclaimer

(1)

Notwithstanding the terms of the trust, a beneficiary may disclaim, either permanently or for such period as he may specify, the whole or any part of his interest under a Labuan trust whether or not the beneficiary has received any benefit from the interest.

(2)

A disclaimer made under subsection (1) shall be in writing.

(3)

A disclaimer made under subsection (1) may, subject to the terms of the trust, be revocable and it shall be exercisable in the manner and under the circumstances so expressed.

(4)

A disclaimer made under subsection (1) shall not prejudice the rights and interests of the beneficiary prior to the disclaimer.