International Trusts Order, 2000 · s 107

Suggest a correction

Tell us what is wrong in this text. We check every suggestion against the official version before we change anything.

What is wrong?Wrong or mistyped wordsWrong structure or numberingWrong title or detailsText that appears twice

What should change, and whyUp to 2,000 characters.The text as it should read (optional)

107.
Recognition of foreign laws
(1)
Sections 105 and 106
{a)
shall not validate -
(i)
any disposition of property which is neither owned by the settlor nor the subject of a power in that behalf vested in the settlor; or
(ii)
any trust or disposition of immovable property in a jurisdiction other than Brunei Darussalam in which such trust or disposition is invalid according to the law of such jurisdiction; or
(iii)
any testamentary trust or disposition of movables which is invalid according to the laws of the testator's last domicile;
{b)
shall not affect the recognition of foreign laws in determining whether the settlor was the owner of the settled property or was the holder of a power to dispose of such property generally;
{c)
shall take effect subject to any express term of a trust or disposition to the contrary;
{d}
as regards the capacity of a corporation shall not affect the recognition of the laws of its place of incorporation; and
{e}
shall not affect the recognition of foreign laws prescribing generally, without reference to the existence or terms of the trust, the formalities for the disposition of property.
(2)
In subsection (l){e}, "formalities" means any documentary or other actions required generally by the laws of a relevant jurisdiction for all dispositions of like form concerning property of like nature, without regard to -
{a)
the fact that the particular disposition is made in trust; or 1196

{b}
the terms of the trust; or
(c)
the circumstances of the parties to the disposition; or
(d)
any other particular circumstances, but includes any special formalities required by reason that the party effecting the disposition is not full age, is subject to a mental or bodily infirmity, or is a corporation.

Edit the text above. Up to 20,000 characters.Where you checked it (optional)A link to the official version, if you have one.

The text as we hold it

Open the official text

s 107Recognition of foreign laws

(1)

Sections 105 and 106

{a)

shall not validate -

(i)

any disposition of property which is neither owned by the settlor nor the subject of a power in that behalf vested in the settlor; or

(ii)

any trust or disposition of immovable property in a jurisdiction other than Brunei Darussalam in which such trust or disposition is invalid according to the law of such jurisdiction; or

(iii)

any testamentary trust or disposition of movables which is invalid according to the laws of the testator's last domicile;

{b)

shall not affect the recognition of foreign laws in determining whether the settlor was the owner of the settled property or was the holder of a power to dispose of such property generally;

{c)

shall take effect subject to any express term of a trust or disposition to the contrary;

{d}

as regards the capacity of a corporation shall not affect the recognition of the laws of its place of incorporation; and

{e}

shall not affect the recognition of foreign laws prescribing generally, without reference to the existence or terms of the trust, the formalities for the disposition of property.

(2)

In subsection (l){e}, "formalities" means any documentary or other actions required generally by the laws of a relevant jurisdiction for all dispositions of like form concerning property of like nature, without regard to -

{a)

the fact that the particular disposition is made in trust; or 1196

{b}

the terms of the trust; or

(c)

the circumstances of the parties to the disposition; or

(d)

any other particular circumstances, but includes any special formalities required by reason that the party effecting the disposition is not full age, is subject to a mental or bodily infirmity, or is a corporation.