Labuan Offshores Trusts Act 1996 · Updated to 1 Dec 2011 · Part IV · Trustees of Labuan Trusts
33A. Trustee’s power of investment
Official textFrom Laws of Malaysia Online, unchanged
In exercising any power of investment, a trustee shall observe the standard investment criteria under subsection (3).
trustee
―trustee‖ means a person appointed to act as a trustee of a trust in accordance with the provisions of this Act;
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.
trust
―trust‖ includes the trust property and the rights, powers, duties, interests, relationships and obligations under a trust;
Labuan Trusts 41
The standard investment criteria, in relation to a trust are as follows:
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
the need for diversification of investments of the trust, in so far as is appropriate to the circumstances of the trust.
The application of this section shall apply in so far as it is consistent with the terms of the Labuan trust.
Labuan trust
―Labuan trust‖ has the meaning assigned to it under subsection 8(1);
Terms defined in s 2
Labuan trust
Defined · s 2―Labuan trust‖ has the meaning assigned to it under subsection 8(1);
trust
Defined · s 2―trust‖ includes the trust property and the rights, powers, duties, interests, relationships and obligations under a trust;
trustee
Defined · s 2―trustee‖ means a person appointed to act as a trustee of a trust in accordance with the provisions of this Act;
Part V