Section 97
of International Trusts Order, 2000
Section 97
(1)
A trust instrument may incorporate or exclude by reference any of the provisions set out in the Second Schedule, with or without any modifications.
(2)
In any such provisions so incorporated, unless a contrary intention appears –
(a)
“Beneficiaries” means persons who are entitled to benefit under the
Trust or in whose favour a discretion to distribute capital or income of the Trust Fund may be exercised and “Beneficiary” has a corresponding meaning;
(b)
“the Order” means this Order or any modification or re-enactment of it;
(c)
“the Trust” means the trust governed by the trust instrument;
(d)
“the Trust Fund’ means the property of all kinds subject to the trusts of the trust instrument for the time being;
(e)
“the Trustees” means the trustees or trustee of the Trust for the time being and “Trustee” has a corresponding meaning; and
(f)
expressions defined in section 2 have the meanings given to them by that section.
(3)
Powers conferred on the trustees by any provisions incorporated as above shall be in addition and without prejudice to other powers conferred on the trustees by law or by the trust instrument.
Memorandum of trust property.