International Trusts Order, 2000 · s 40

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40.
11)
Notwithstanding any rule of law or equity to the contrary/ it shall be lawful for a trust instrument to provide that any estate or interest in any property given or to be given to any individual as a beneficiary shall not during the life of that beneficiary, or such lesser period as may be specifted in the trust instrument, be alienated or pass by bankruptcy, insolvency or liquidation or be liable to be 1158
seized, sold, attached, or taken in execution by process of law and where so provided such provisions shall take effect accordingly.
(2)
Where property is given subject to any of the restrictions contained in subsection (1}, the right to derive income from such property by a beneficiary and any income derived therefrom shall not pass by bankruptcy, insolvency or liquidation or be liable to be seized, attached or taken in execution by process of law.
(3)
Where property is given subject to a restriction against alienation then the right to derive income from that property shall not be alienable for as long as that restriction remains in force.
(4)
A restriction imposed pursuant to this section may at any time be removed in accordance with any provisions for such removal in the trust instrument and in the manner specified therein.
(5)
No settlor may benefit from the provisions of this section.

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s 4011)

Notwithstanding any rule of law or equity to the contrary/ it shall be lawful for a trust instrument to provide that any estate or interest in any property given or to be given to any individual as a beneficiary shall not during the life of that beneficiary, or such lesser period as may be specifted in the trust instrument, be alienated or pass by bankruptcy, insolvency or liquidation or be liable to be 1158

seized, sold, attached, or taken in execution by process of law and where so provided such provisions shall take effect accordingly.

(2)

Where property is given subject to any of the restrictions contained in subsection (1}, the right to derive income from such property by a beneficiary and any income derived therefrom shall not pass by bankruptcy, insolvency or liquidation or be liable to be seized, attached or taken in execution by process of law.

(3)

Where property is given subject to a restriction against alienation then the right to derive income from that property shall not be alienable for as long as that restriction remains in force.

(4)

A restriction imposed pursuant to this section may at any time be removed in accordance with any provisions for such removal in the trust instrument and in the manner specified therein.

(5)

No settlor may benefit from the provisions of this section.