Labuan Offshores Trusts Act 1996 s 29

s 29 Vacancy in a trust

(1) A trustee shall cease to be a trustee and his position as trustee shall be considered vacant upon— (a) his removal as trustee by the Court; (b) his resignation taking effect; (c) the coming into effect of a provision in the terms of the trust under which the trustee is removed from office or otherwise ceases to hold office; or (d) steps being taken for the winding up of the trust company acting as trustee. (2) A person who ceases to be a trustee under this section shall do everything necessary to vest the trust property in the new or surviving or continuing trustees.

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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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