International Trusts Order, 2000 · s 3

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3.
Application and restrictions
( 1)
This Order applies to a trust only if it is an international trust and all the provisions of this Order shall be read and understood and take effect accordingly.
(2)
For the purposes of this Order, a trust is an international trust except where the context otherwise requires if it is created in writing whether by deed, unilateral declaration will or other testamentary document or otherwise and at least one of the trustees is a trust corporation or a wholly-owned subsidiary of a trust corporation authorised under section 3(3) of the Registered Agents and
Trustees Licensing Order, 2000; and
{a)
if it is an authorised purpose trust or a special trust; or
{b)
if it is an ordinary trust, and
(i)
at the creation of the trust or (if later) when it &rst becomes subject to the law of Brunei Darussalam the settlor does not reside in Brunei Darussalam; and
(ii)
the trust instrument (or an instrument under which the trust becomes subject to the law of Brunei Darussalam) provides or implies that the trust is to be an international trust for the purposes of this Order.
(3)
For the purposes of subsection (2)fb)(ii) -
{a)
if a trust is created by will or codicil then the testator is its settlor and the time of the testator's death shall be considered to be the time when the trust was created;
{b) each person who donates or contributes property to a trust shall be considered a settlor;
{c)
if a settlor makes such a donation or contribution after the original creation of the trust then as regards that settlor and the property so donated the time of the donation or contribution shall be considered to be the time when the trustee became entitled to hold the donation or contribution on the trusts created and if the donation is made by will or codicil then the time of the testator's death shall be considered to be the time of the donation.
(4)
No capital or income subject to an international trust shall be paid or applied (otherwise than in the execution of a charitable purpose) in any way which might confer any direct or indirect benefit on any person who is residing in Brunei
Darussalam at the time of the payment or application.
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s 3Application and restrictions

( 1)

This Order applies to a trust only if it is an international trust and all the provisions of this Order shall be read and understood and take effect accordingly.

(2)

For the purposes of this Order, a trust is an international trust except where the context otherwise requires if it is created in writing whether by deed, unilateral declaration will or other testamentary document or otherwise and at least one of the trustees is a trust corporation or a wholly-owned subsidiary of a trust corporation authorised under section 3(3) of the Registered Agents and

Trustees Licensing Order, 2000; and

{a)

if it is an authorised purpose trust or a special trust; or

{b)

if it is an ordinary trust, and

(i)

at the creation of the trust or (if later) when it &rst becomes subject to the law of Brunei Darussalam the settlor does not reside in Brunei Darussalam; and

(ii)

the trust instrument (or an instrument under which the trust becomes subject to the law of Brunei Darussalam) provides or implies that the trust is to be an international trust for the purposes of this Order.

(3)

For the purposes of subsection (2)fb)(ii) -

{a)

if a trust is created by will or codicil then the testator is its settlor and the time of the testator's death shall be considered to be the time when the trust was created;

{b) each person who donates or contributes property to a trust shall be considered a settlor;

{c)

if a settlor makes such a donation or contribution after the original creation of the trust then as regards that settlor and the property so donated the time of the donation or contribution shall be considered to be the time when the trustee became entitled to hold the donation or contribution on the trusts created and if the donation is made by will or codicil then the time of the testator's death shall be considered to be the time of the donation.

(4)

No capital or income subject to an international trust shall be paid or applied (otherwise than in the execution of a charitable purpose) in any way which might confer any direct or indirect benefit on any person who is residing in Brunei

Darussalam at the time of the payment or application.

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