Trusts and Trustees Act (Cap. 331), article 40

40. (1) A person acquiring trust property from a trustee in good faith and under an onerous title acquires a good title the reto as if he had acquired it from the person having the absolute title thereto and shall not be affected by the trusts on which the sa id property is held. (2) No person paying or advancing money to a trustee shall be concerned to see that such mone y is required for the purposes o f the trust, or that no more than is required is raised, or otherwise as to the propriety of the transacti on or the application of the mone y. (3) A person dealing with a trust ee in relation to trust propert y need not - (a) enquire into the terms of the trust; or (b) obtain the consent of the beneficiaries or any other person, and shall, subject to being in good faith, be entitled to rely on declarations made by the trustee with regard to any matters the rein stated. (4) The trustee may furnish to any person a certificate containing the followi ng information witho ut being in breach of any confidentiality obligations: (a) that the trust exists and the date the trust instrument was executed; (b) the identity and address of the current trustee; (c) that the trustee is duly authorised and empowered to carry out the relevant trans action and has obtained all necessary consents, if any; (d) the revocability or irrevocability of the trust and, if revocable, that the tru st has not been revoked. (5) When there is more than one trustee, a certificate may be signed and authenticat ed by any trustee. (6) Any trustee who issues a ny certificate containing any statement which he knows or ought to know is false shall be gui lty TRUSTS AND TRUSTEES [CAP. 331. 33 of an offence and shall on conviction be liable to the punishme nt of imprisonment for a term not ex ceeding two years or to a fine (multa ). Following trust property and bankruptcy of trustee. Added by: XX. 1994.4. Amended by: XIII. 2004.28; XI. 2014.7. Cap. 16.