Labuan Offshores Trusts Act 1996 · s 31

Suggest a correction

Tell us what is wrong in this text. We check every suggestion against the official version before we change anything.

What is wrong?Wrong or mistyped wordsWrong structure or numberingWrong title or detailsText that appears twice

What should change, and whyUp to 2,000 characters.The text as it should read (optional)Edit the text above. Up to 20,000 characters.Where you checked it (optional)A link to the official version, if you have one.

The text as we hold it

Open the official text

s 31Duty of co-trustees

(1)

Subject to subsection (2) and the terms of the trust, where there is more than one trustee, all the trustees shall—

(a)

act jointly in the performance of their duties and the exercise of their powers; and

(b)

not exercise any power or discretion unless they are all in agreement.

(2)

Where the terms of the trust empower the trustees to act by a majority, a trustee who dissents from a decision of the majority of the trustees shall cause his dissent to be recorded in writing.

40 Laws of Malaysia ACT 554