Labuan Offshores Trusts Act 1996 · s 45

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s 45Constructive trustee

(1)

Subject to subsection (2), where a person makes or receives any profit, gain or advantage from a breach of trust he shall be deemed to be a constructive trustee of that profit, gain or advantage.

(2)

Subsection (1) shall not apply to a bona fide purchaser of property for value and without notice of a breach of trust.

Labuan Trusts 57

(3)

A person who is or becomes a constructive trustee shall deliver up the property of which he is a constructive trustee to the person properly entitled to it.

(4)

This section shall not exclude any other circumstances under which a person may be or become a constructive trustee.