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← Labuan Offshores Trusts Act 1996

Labuan Offshores Trusts Act 1996 s 48

Labuan Offshores Trusts Act 1996 s 48

s 48 Approval of particular transactions

Where in the management or administration of a trust, a transaction is in the opinion of the Court expedient, but cannot be effected because the necessary power is not vested in the trustee by the terms of the trust or by law, the Court may, on the application of the trustee or beneficiary— (a) confer on the trustee, either generally or in any particular circumstance, the necessary power, on such terms and subject to such conditions, if any, as it deems fit; and (b) direct in what manner and from what property any money authorized to be expended, and the costs of any transaction, are to be paid or borne.

Read this section in the full act → · Open Part V →

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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