International Trusts Order, 2000 · As enacted · Part III
22. Power to insure
Official textFrom Attorney General's Chambers, unchanged
( 1)
Trustees may insure against any risk in respect of any trust property as and for any interest if they were the absolute beneficial owners thereof and may pay the premium for such insurance at the discretion of the trustees out of income or out of capital.
trust
"trust" means an international trust except where the context otherwise requires;
Without prejudice to the requirements relating to insurance applicable in respect of trust corporations to person licensed under the Registered Agents and
person
"person" includes a natural person, any company or.association or body of persons, corporate or incorporated, including a partnership whether limited, unlimited or an international limited partnership created under the International Partnerships Order, 2000;
Trustees Licensing Order, 2000, trustees may insure against personal liabilities
(otherwise than for breach of trust) which they may incur in the execution of their trusts and may effect fidelity insurance for employees whom they employ in their capacity as trustees. The premiums for any such insurances may be paid out of the capital or income of the trust property at the discretion of the trustees.
Terms defined in s 2
person
Defined · s 2"person" includes a natural person, any company or.association or body of persons, corporate or incorporated, including a partnership whether limited, unlimited or an international limited partnership created under the International Partnerships Order, 2000;
property
Defined · s 2"property" includes - {a} money, goods, chases in action, land and every descriptions of property1 whether movable or immovable; and (b} obligations, easements and every description of estate, interest and profit, present or future, vested or contingent, arising out of, or incident to, any property as defined in paragraph {a}; 1141 17th. JULY, 2000
trust
Defined · s 2"trust" means an international trust except where the context otherwise requires;
Part IV
Protections and Indemnities of Trustees
Part VI
Part VII
Powers of the Court
Part VIII
Authorised Purpose Trusts
Part IX
Part X
Additional Provisions
Part XI