Section 29
Vacancy in a trust
of Labuan Offshores Trusts Act 1996
ActIn forceProvision 38 of 94
Section 29
(a)
his removal as trustee by the Court;
(b)
his resignation taking effect;
(c)
the coming into effect of a provision in the terms of the trust under which the trustee is removed from office or otherwise ceases to hold office; or
(d)
steps being taken for the winding up of the trust company acting as trustee.
(2)
A person who ceases to be a trustee under this section shall do everything necessary to vest the trust property in the new or surviving or continuing trustees.
38 Laws of Malaysia ACT 554