Labuan Offshores Trusts Act 1996 · s 16

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s 16Duration of Labuan trust

(1)

The terms of a Labuan trust may expressly provide that the

Labuan trust shall exist for a fixed duration.

(2)

A Labuan trust shall, unless otherwise stated in the terms of a trust, continue to exist for an unlimited period or be terminated in accordance with the provisions of this Act.

(3)

Notwithstanding subsections (1) and (2), the terms of a Labuan trust may authorize the trustee to—

(a)

appoint a fixed duration to a Labuan trust;

(b)

convert a Labuan trust with fixed duration to a Labuan trust for unlimited period; or

(c)

alter, by limiting or extending, the duration of a Labuan trust.