Legislation
Trusts and Trustees Act (Cap. 331)
- Art. 1(1) The short title of this Act is the Trusts and Trustees Act. (2) The provisions of this Act, ex cept as oth
- Art. 2(1) In this Act, unless the c ontext otherwise requires - "approved jurisdiction" means a jurisdiction which h
- Art. 3(1) A trust exists where a person (called a trustee) holds, as owner or has vested in him property under an ob
- Art. 5(1) Subject to the provisions of this Act, a trust shall be gov erned by its proper law and shall be interpret
- Art. 5A(1) The provisions of articles 1 to 12, 14, 15, 16 (the first paragraph only), 17, 18 and 22 (the first paragr
- Art. 6(1) When the proper law of a trust is the law of Malta as the chosen applicable law of th e trust or as determ
- Art. 6A(1) Subject to the provisions of subarticle (2), in the case of a trust governed by Maltese law, where the law
- Art. 6BIn order to ensure that the provisions of applicable law which cannot be derogated from by voluntary act are a
- Art. 7(1) Within the meaning of article 3, a trust may come into existence in any manner. (2) Without prejudice to t
- Art. 8(1) The Courts of Malta shall have jurisdiction where - (a) the trust is a Maltese trust; or (b) t h e t r u s
- Art. 9(1) A beneficiary has an entitlement, called a beneficial interest, in or to the trust property, as the case m
- Art. 10(1) Subject to the terms of the trust, a trustee may accept the settlement of any additional property under th
- Art. 11(1) A trust shall fail - (a) if it requires, purports or encourages the doing of any act which is a criminal o
- Art. 12(1) A trust may continue until the one hundred and twenty- fifth anniversary of the date on which it came into
- Art. 13(1) The terms of a trust may make the interest of a beneficiary - (a) liable to termination; or (b) subject to
- Art. 14Where the terms of a trust provide for the variation of its terms such power to vary shall be without prejudic
- Art. 14A(1) The reservation or grant by the settlor of any beneficial interest in the trust property or of any of the
- Art. 15(1) Where a trust or a power exercisable under a trust is by the terms thereof , expressed to be - (a) revocab
- Art. 16(1) Subject to the terms of a trust and to any order of the court, where a trust terminates due to - (a) a lap
- Art. 17(1) On the termination of a trust, the trust property shall be distributed by the trustee within a reas onable
- Art. 18(1) Trustees are appointed by, or as provided in, the trust instrument, and in such number as may be so provid
- Art. 19(1) No one is obliged to accept an appointment as trustee, but if any person who is so appointed does any act
- Art. 20(1) Subject to the provisions of subarticle (2), a trustee may resign as trustee by notice in writing to his c
- Art. 21(1) Trustees shall in the execution of their duties and the exercise of their powers and di scretions act with
- Art. 22(1) Where the trustees are more than one they shall, subject to the terms of the trust and except as otherwise
- Art. 23Where the trust provides for more than one beneficiary, or more than one charitable purpose or for at least on
- Art. 24(1) Subject to the terms of the trust and to the provision of this Act, a trustee shall, in relation to the tr
- Art. 24A(1) The terms of a trust may provide for the office of protector of the trust. (2) Subject to the terms of the
- Art. 24B(1) The terms of a trust set up for a charitable purpose may provide: (a) for the appointment of an enforcer i
- Art. 24C(1) Subject to sub-article (2 ), an enforcer may resign from his office by notice in writing delivered to the
- Art. 25(1) A trustee may not delegat e his powers unless permitted to do so by this Act, or by the terms of the trust
- Art. 26(1) Where the terms of the trust direct or authorise the accumulation for a period of all o r part of the inco
- Art. 27Where the terms of the trust c onfer on the trustee or on any other person power to appoint or assign all or a
- Art. 28(1) Unless authorised by the terms of the trust, or by the consent in writing of all the beneficiaries or by a
- Art. 29(1) A trustee shall, so far as is reasonable and within a reasonable time of receiving a request in writing to
- Art. 30(1) A trustee commit ting or concur ring in a br each of trust shall without prejudice to any other liability
- Art. 31(1) A trustee acting for the purposes of more than one trust shall not, in the absence of fraud, be affected b
- Art. 32(1) Where in any transaction or matter affecting a trust a trustee informs a third party th at he is acting as
- Art. 33(1) Subject to the provisions of subarticle (2), where a person (in this article referred to as a "constructiv
- Art. 34(1) A trustee who resigns or is removed or otherwise ceases to be a trustee shall duly surrender trust propert
- Art. 35(1) Subject to the terms of the trust, the following rules shall apply where a trust, or an interest under a t
- Art. 36(1) Subject to the provisions of subarticle (2), the court may, if it thinks fit, by order approve on behalf o
- Art. 37(1) A trustee may apply to the court for directives concerning the manner in which he may or should act in con
- Art. 37A(1) Where any court makes an order on the demand of a beneficiary who has been prejudiced as a result of bad f
- Art. 38(1) There shall be no appeal from any decree, order, declaration or direction of the Civil Court in its volunt
- Art. 38A(1) All proceedings under the se articles shall be held in camera and only the parties to the proceedings, the
- Art. 38BThe Board established under article 29 of the Code of Organization and Civil Procedure may make Rules of Court
- Art. 38CWithout prejudice to any other obligations arising under any other law, a trustee may apply to the Authority f
- Art. 40(1) A person acquiring trust property from a trustee in good faith and under an onerous title acquires a good
- Art. 40A(1) Without prejudice to the personal liability of a trustee, trust property which has been a lienated or deal
- Art. 41(1) An action brought against a trustee - (a) in respect of any fraud to w hich the trustee was a party or to
- Art. 42Persons may carry on the activities as trustees either in a professional or in a private capacity and, as the
- Art. 43(1) Except as provided in terms of subarticles (6) and (7), any person operating in or from Malta, who receive
- Art. 43A(1) In this article the term "Notarial Law" means the Notarial Profession and Notarial Archives Act . (2) An i
- Art. 43BNotwithstanding the provisions of article 43A, a trustee set up as a company - (a) whose object and activities
- Art. 43C(1) An auditor of a trustee authorised in terms of the Act, shall have the duty to report immediately to the A
- Art. 44(1) An application for authorisation in terms of article 43 shall be made in the form and manner required by t
- Art. 45( 1 ) T h e A u t h o r i t y m a y g r a n t o r r e f u s e t o g r a n t authorisation applied for under th
- Art. 46The Authority may at any time cancel or suspend an authorisation in acco rdance with the provi sions of this A
- Art. 46A(1) Where the Authority proposes - (a) to vary any condition to which the authorisation is subject or to impos
- Art. 46B(1) Without prejudice to the powers conferred to the competent authority under article 46, the competent autho
- Art. 47(1) Notwithstanding any other provision of this Act, the Authority may, by notice in writin g, require any per
- Art. 48(1) Without prejudice to any of the powers conferred on it by this Act, the Authority may, whenever it deems i
- Art. 49(1) In relation to trustees, the provisions of article 17 of the Malta Financial Services Authority Act shall
- Art. 50(1) Any officer, employee or agent of the Authority, on producing, if required, evidence of his authority, may
- Art. 51(1) Any person who contravenes or fails to comply with any of the provisions of this Act, or contravenes or fa
- Art. 52(1) The Authority may issue rules governing trustees, whether authorised or not required to obtain authorisati
- Art. 53(1) The court, upon the application of the Authority, may make a disqualification order ag ainst any person wh
- Art. 54A person shall not be qualified for appointment or to hold office as trustee if - (a) he is interdicted or inc
- Art. 55(1) In this article, the "Financ ial Services Tribunal" means the Tribunal established in terms of article 21
- Art. 56For the purpose of articles 44 till 55 the term "trustee" shall be construed as including those persons referr
- Art. 57(1) The Minister may, on the advice of the Authority make regulations or rules for the better carrying out of
- Art. 58(1) Subject to the provisions of the T r u s t s a n d T r u s t e e s (Amendment) Act, 2014 , trustees and pr
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