International Trusts Order, 2000 · As enacted · Part IV · Protections and Indemnities of Trustees
40. 11)
Official textFrom Attorney General's Chambers, unchanged
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
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.
seized, sold, attached, or taken in execution by process of law and where so provided such provisions shall take effect accordingly.
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.
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
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.
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.
No settlor may benefit from the provisions of this section.
settlor
"settlor" includes the testator where trusts are declared by will or codicil;
Terms defined in s 2
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
settlor
Defined · s 2"settlor" includes the testator where trusts are declared by will or codicil;
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 VI
Part VII
Powers of the Court
Part VIII
Authorised Purpose Trusts
Part IX
Part X
Additional Provisions
Part XI