Labuan Offshores Trusts Act 1996 · s 27

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27.
Acceptance of appointment as trustee
(1)  No person shall be obliged to accept an appointment as trustee but if a trust company that is appointed as trustee does any act or thing in relation to the trust property consistent with the status of a trustee of that property, the trust company shall be deemed to have accepted the appointment as trustee.
(2) A trust company which has not accepted or which is not deemed to have accepted the appointment as trustee may disclaim such appointment within a reasonable period of time after becoming aware of it by giving a notice in writing to the settlor or to the other trustees.
(3) If the settlor is dead or cannot be found or is no longer in existence and there are no other trustees, the trust company disclaiming the appointment as trustee under subsection (2) may apply to the Court for relief from the appointment and the Court may make such order as it thinks fit.

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s 27Acceptance of appointment as trustee

(1)

No person shall be obliged to accept an appointment as trustee but if a trust company that is appointed as trustee does any act or thing in relation to the trust property consistent with the status of a trustee of that property, the trust company shall be deemed to have accepted the appointment as trustee.

(2)

A trust company which has not accepted or which is not deemed to have accepted the appointment as trustee may disclaim such appointment within a reasonable period of time after becoming aware of it by giving a notice in writing to the settlor or to the other trustees.

(3)

If the settlor is dead or cannot be found or is no longer in existence and there are no other trustees, the trust company disclaiming the appointment as trustee under subsection (2) may apply to the Court for relief from the appointment and the Court may make such order as it thinks fit.

Labuan Trusts 37