Section 51
Protection of persons dealing with trustees
of Labuan Offshores Trusts Act 1996
ActIn forceProvision 82 of 94
Section 51
(a)
may deal with a trustee in relation to trust property as if the trustee was the beneficial owner of the trust property;
and
(b)
shall not be affected by the trusts on which such property is held.
(2)
No person paying or advancing money to a trustee shall be concerned to see that such money is required for the purposes of the trust, or that no more than is required is raised, or otherwise as to the propriety of the transaction or the application of the money.