International Trusts Order, 2000 · As enacted · Part I
4. (1)
Official textFrom Attorney General's Chambers, unchanged
The express or implied retention, possession acquisition or exercise by a settlor of any one or more of the powers, functions or interests referred to in subsection (2) shall not invalidate a trust or the trust instrument or cause a trust created inter vivos to be a testamentary trust or disposition or the trust instrument creating it to be a testamentary document, provided that in the absence of express provision in that behalf nothing in this section shall operate to imply any such powers, functions and interests to be included in the terms of the trust or the trust instrument.
possession
"possession" includes receipt of rents and profits or the right to receive the same, if any;
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The powers, functions and interests referred to in subsection (1) are -
{a}
any powers to revoke the trust or the trust instrument or any trusts or powers granted thereby, or to withdraw property from the trust;
trust
"trust" means an international trust except where the context otherwise requires;
{b)
any powers of appointment or disposition over any of the trust property;
property
"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
{c)
any powers to amend the trust or the trust instrument;
trust instrument
"trust instrument" means the written testamentary or other instrument if any by which, or on the terms of which, the trust is created (including any subsequent instruments affecting the terms or administration of the trust) or where the trust was not created by, or on the terms of, any written instrument refers to any trust instrument evidencing an oral declaration creating the trust. Application and restrictions.
{d)
any powers to appoint, add or remove any trustees, protectors or beneficiaries;
{e)
any powers to give directions to trustees in connection with the exercise of any of their powers or discretions;
{f)
any provisions requiring the consent of the settlor to any act or abstention of trustees;
settlor
"settlor" includes the testator where trusts are declared by will or codicil;
{g)
any such other powers as are referred to in section 88;
{h)
the appointment of the settlor as a protector of the trust;
protector
"protector" means any person appointed as such pursuant to the terms of the trust instrument and includes any duly appointed successor to an initial protector; 11rights" include estates and interests;
(i}
any beneficial interests of the settlor !including absolute beneficial interests) in the capital or income of the trust property or in both such capital and income; and
(}}
any interests of the settlor in any companies or assets underlying the trust property and any control of the settlor over such companies or assets.
Subsections (1) and (2) do not prejudice any question as to the effect of a settlor retaining, possessing or acquiring any other powers, functions or interests.
Subject to its other terms, a trust instrument may contain a power for the settlor to amend, alter or vary a trust, but such powers shall not, in the absence of express provision to the contrary include a power to add as beneficiaries any persons whatever (including the settlor and any private or charitable trusts or foundations) or to remove any beneficiaries.
Terms defined in s 2
possession
Defined · s 2"possession" includes receipt of rents and profits or the right to receive the same, if any;
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
protector
Defined · s 2"protector" means any person appointed as such pursuant to the terms of the trust instrument and includes any duly appointed successor to an initial protector; 11rights" include estates and interests;
settlor
Defined · s 2"settlor" includes the testator where trusts are declared by will or codicil;
trust
Defined · s 2"trust" means an international trust except where the context otherwise requires;
trust instrument
Defined · s 2"trust instrument" means the written testamentary or other instrument if any by which, or on the terms of which, the trust is created (including any subsequent instruments affecting the terms or administration of the trust) or where the trust was not created by, or on the terms of, any written instrument refers to any trust instrument evidencing an oral declaration creating the trust. Application and restrictions.
Part II
Investments
Part III
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