Section 33
Powers of trustees
of Labuan Offshores Trusts Act 1996
ActIn forceProvision 42 of 94
Section 33
(2)
A trustee shall exercise his powers in the interest of the beneficiaries and in accordance with the terms of the trust and the provisions of this Act.
(3)
A trustee may, unless otherwise provided in the terms of the trust—
(a)
insure any property which is subject to the trust against risks of loss or damage due to any event; and
(b)
pay the premiums out of any income or capital funds of the trust.