Section 31
Duty of co-trustees
of Labuan Offshores Trusts Act 1996
ActIn forceProvision 40 of 94
Section 31
(a)
act jointly in the performance of their duties and the exercise of their powers; and
(b)
not exercise any power or discretion unless they are all in agreement.
(2)
Where the terms of the trust empower the trustees to act by a majority, a trustee who dissents from a decision of the majority of the trustees shall cause his dissent to be recorded in writing.
40 Laws of Malaysia ACT 554