Section 4
of International Trusts Order, 2000
Section 4
(1)
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.
(2)
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;
(b)
any powers of appointment or disposition over any of the trust property;
(c)
any powers to amend the trust or the trust instrument;
(d)
any powers to appoint, add or remove any trustees, protectors or beneficiaries;
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BLUV as at 16th December 2010
(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;
(g)
any such other powers as are referred to in section 88;
(h)
the appointment of the settlor as a protector of the trust;
(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
(j)
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.
(3)
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.
(4)
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.