Trusts and Trustees Act (Cap. 331), article 48

48. (1) Without prejudice to any of the powers conferred on it by this Act, the Authority may, whenever it deems it necessary, give, by notice in writing, such directives as it may deem appropriate in the circumstances; and any person to whom or to which the notice is given shall obey, comply with and otherwise give effect to any such directive within the time and in the ma nner stated in the directive. (2) Without prejudice to the generality of the foregoing provisions of this article, a directive under this article may - (a) require anything to be done or be omitted to be done, or impose any prohibition, restriction or limitation, or any other requirement, and confer powers, with respect to any transaction or other act, or to any assets, or to any other thing whatsoever; (b) require that any person having functions of a trustee be removed or replaced by another person acceptable to the Authority; (c) require a trustee to cease operations and to wind up its affairs, in accordance with such procedures and directions as may be specified in the directive, which may provide for the appointment of a person to take possession and control of all documents, records, assets and property belonging to or in the possession or control of the trustee. (3) The power to give directives under this article shall includ e the power to vary, alter, add to or withdraw any directive, as well as the power to issue new or further d irectives. (4) Where the Authority is satisfied that the circumstances so warrant, it may at any time make public any directive it has gi ven under any of the provisions of this article. Exchange of information and collaboration. Added by: XIII. 2004.31. Cap. 330.