Section 74
of International Trusts Order, 2000
ORDERIn forceProvision 74 of 109
Section 74
If the purposes of an authorised purpose trust become satisfied or become impossible or impracticable to carry out or unlawful or contrary to public policy, then the trustees may determine or the Court may declare that the trust has terminated and upon such declaration –
(a)
if the trust instrument provides for further trusts to take effect subject to, or on the termination of, the authorised purpose trust then such further trusts shall take effect accordingly; or
(b)
otherwise the trust property and its income shall be dealt with in accordance with the provisions of the trust instrument regarding surplus assets.
44
BLUV as at 16th December 2010