Civil Code (Cap. 16), article 380

380. (1) The duration of a usufruc t constituted in favour of a body-corporate, canno t exceed thirty years; and if the usufruct is granted without any limitation of time, or for a time exceeding thirty years, its duration shall be limited to thirty years. (2) When a right of usufruct is s ettled under trusts in favour o f 130 [CAP. 16. CIVIL CODE a trustee, including a corporate trustee, or is endowed to a pr ivate foundation for the benefit of ben eficiaries who are natural per sons, for the purposes of this article, the usufruct shall be conside red as being constituted in favour of the beneficiaries who are named and who have a right to enjoy the property and, unless expressly st ated otherwise, shall operate for the lifetime of such beneficiaries . or until a third party reaches a given age,