Labuan Offshores Trusts Act 1996 · s 33A

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s 33ATrustee’s power of investment

(1)

In exercising any power of investment, a trustee shall observe the standard investment criteria under subsection (3).

(2)

A trustee shall, from time to time, review the investments of the trust and consider whether, having regard to the standard investment criteria, the investments should be varied.

Labuan Trusts 41

(3)

The standard investment criteria, in relation to a trust are as follows:

(a)

the suitability to the trust of investments of the same kind as any particular investment proposed to be made or retained and of that particular investment as an investment of that kind; and

(b)

the need for diversification of investments of the trust, in so far as is appropriate to the circumstances of the trust.

(4)

The application of this section shall apply in so far as it is consistent with the terms of the Labuan trust.