Malaysia legislation

Section 29

of *LABUAN OFFSHORES TRUSTS ACT 1996

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

Duties of trustees

Section 29 — AKTA AMANAH PESISIR LABUAN 1996 | mylaw.my