Trusts and Trustees Act (Cap. 331)

Trusts and Trustees Act (Cap. 331), article 22

Official PDF on legislation.mt

22. (1) Where the trustees are more than one they shall, subject to the terms of the trust and except as otherwise provi ded therein - (a) act jointly in the performance of their duties and the exercise of their powers, unless in urgent cases it is not possible for any one or more of them so to act; (b) not exercise any power or discretion unless all the trustees are in agreement; and where the terms of the trust empower the trustees to act by a majority, a trustee who dissents from a decision of the majorit y, shall cause his dissent t o be recorded in writing. ( 2 ) T r u s t p r o p e r t y s h a l l a t a l l t i m e s v e s t i n t h e c o - t r u s t e e s i n possession between them pro indiviso . Impartiality of trustees.

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Text read from the consolidated PDF published by Legislation Malta. Tables, figures and marginal notes may be incomplete or out of place: the official PDF is authoritative. General information, not legal, tax or accounting advice.