Labuan Offshores Trusts Act 1996 s 28

s 28 Resignation of trustees

(1) Subject to subsection (2) and the terms of the trust, a trustee may resign his office by delivering to— (a) the settlor or, in the absence of the settlor, at least one beneficiary; and (b) in the case of a registered offshore trust, the Authority, a notice in writing of his intention and the resignation shall take effect on the delivery of the notice. (2) A resignation shall not have effect if— (a) it is given in order to facilitate a breach of trust; or (b) it would result in there being no trustee, unless, before the resignation takes effect, an application has been made to the Court for the appointment of a new trustee and a new trustee has been appointed.

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Find Act 554 on lom.agc.gov.my ↗

Text as at 1 January 2006 (LOM reprint); amendments made after that date may not be incorporated.

Source: Laws of Malaysia, Attorney General's Chambers of Malaysia (lom.agc.gov.my). Not a copy of the Gazette printed by the Government Printer (Interpretation Acts 1948 and 1967, s 61).

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